Sell Your House For Cash To A Private Investor
Nowadays, most homeowners are preferring to sell their homes for cash as it is the best alternative to quickly sell the property. Qualified buyers in the real estate market are hard to locate for many homeowners, as the market also is becoming sluggish. Their best solution is to sell it straight up to an investor who is able to pay them full cash.
Selling your house for cash to an investor is the same as selling your house to a buyer with the usual financing. There are advantages though if you receive the cash instantly than when you receive it through bank funding by the buyer.
A prime advantage of selling your house for cash is getting the deal closed in just a few days, rather than weeks. Filling in long forms with the lender is no longer necessary, as well as the waiting game for the approval of it. There are now tight restrictions implemented for borrowers who need money down mortgages. Most banks today only approve the cash down mortgage if the borrower’s FICO score is decent and when the borrower is able to obtain a down payment of 20 percent.
Figuring Out Options
The economy has recently been going down with many people not being able to find jobs and would not take the risk to invest in the real estate as they fear of losing their jobs and eventually, their homes. A lot of them would not take that risk. It is difficult for many homeowners to find buyers these days.
Sales – Getting Started & Next Steps
On a good note, there are now real estate investors who buy homes anywhere in the country. There are not much sources for lending money the usual way and most private investors are abundant enough to pay houses for cash. It is one way for these investors to add clients and expand their real estate portfolios.
Another benefit that homeowners can get with private investors is that these investors are experts on short sale and foreclosure transactions. Knowledge is also required when dealing with these type of transactions, as well as being able to affiliate to various lenders in the market. Documentation and other requirements are needed for short sales and to be able to get through all of it successfully is with a certified real estate investor.
Realtors’ fees can be very high but if you sell your house for cash to an investor, you will not have to deal with any realtor in the process. Legal documents are important when transferring to real estate, therefore, it is essential on your part to understand what is written in those contracts before placing your signature.
Alamo City Assets LLC is a local investor from San Antonio who buys houses with cash.