19 May 3 Reasons People Sell their Homes to Cash Buyers
More and more people are bypassing the traditional way of listing homes on the market and are instead selling directly to a cash buyer. The reasons are many, but most are motivated by a desire to sell quickly and eliminate the hassle of home showings and paperwork. Here are just a few common reasons people sell their homes for cash.
It’s not unusual for people to get behind on their mortgage payments. Thirty days after a missed mortgage payment, the loan is considered to be in default, and the lender will send out a letter of notification. Foreclosure proceedings can begin within 120 days.
To avoid having the lender take their property in a foreclosure, many homeowners will try to sell their home. With the tight time frame, it makes sense to sell to a cash buyer. The cash buyer will make an offer within 24 hours, and it’s possible to close on the house within a week.
When a divorcing couple owns a property jointly, it’s often sold and the proceeds divided between the two parties. Due to the circumstances, many couples don’t have cash on hand to make extensive repairs that are often needed when listing a home on the market.
They may also want to avoid paying commission, closing costs, and other fees. Instead, they opt to sell outright to a cash buyer. Within just a week or two, they can have cash for their home and make substantial progress toward settling the divorce.
Empty nesters and retirees often wish to sell their home in order to move into a smaller place that’s easier to take care of. They may not want the work or expense of fixing up their homes for home showings.
A cash buyer will purchase their home “as is,” and the deal can often close within a couple o f weeks. Downsizers can move on quickly to the next chapter in their lives by selling to a cash buyer.
Selling your home for cash can be a good option for many reasons. Cash buyers will take the time to discuss your motivations and explain how a cash sale might benefit you. The offer is no-obligation, so it’s worth checking out.
Whatever your reason to sell your Phoenix home, Cash Max Offers can help. Learn more by clicking this link now.