Buying or selling a house is never a small thing and it is never an easy or simple process. A large portion of people go through a real estate agent in order to buy or sell a house. This is the classic way that people choose to go through this process, but it is not the only way to do it. There is also the option to sell the home quick for cash in a sale by owner transaction. There are a lot of reasons people choose to go this direction and there are some great benefits to doing it this way.
There are numerous of reasons people choose to go this route in the sale of their home.
- Some people find themselves in serious financial troubles. There is the possibility that they have lost their job and they are not able to afford their home anymore. They may also be in a situation where they are being threatened with repossession or foreclosure. This is a way for them to avoid much larger issues than they are already having to handle. This is a way for them to salvage whatever they can of their finances and move on.
- There is also the possibility that they house has a lot of problems. There may be issues with the home that need to be addressed that the current owner is just not in a situation to handle. It also may be violating a lot of city codes that have to be dealt with in a time frame that is just not feasible for the owner to comply with. It can be more feasible for a professional house flipper to buy the home and get it fixed and where it needs to be.
There are also some major perks with the option to sell your home quick for cash.
- These sales can be handled super quickly. They can be started and finished anywhere from 1 to 3 weeks instead of 4 to 7 weeks as with traditional sale. Depending on the person’s situation, this may be one of the best perks of this option.
- Most of the time, these sales do not fall through. First of all, when a potential buyer makes an offer, they are not going to make the offer if they don’t have the money to back it up. It also cuts out the banks. You don’t have to wait for people to get approved for the loan and there is no threat of them being denied either.
Before you go into this, you want to make sure to be your own agent. You should have your home appraised so that you know what type of offers you should take and what ones you should laugh at. Also make sure to take a look at what comparable properties are going for.