Advantages and Disadvantages of Selling Your Home to a Cash Buyer

Selling a home can be a troublesome and time consuming process. However, things are even more complicated when you are constricted by time. There are many things to consider when selling a house and most people are afraid of cash buyers because they feel like they may be taken advantage of. Whether you are going through a divorce, you’re struggling bankruptcy or you have other types of financial problems, a fast buyer can be a solution for your problem. However there are a couple of things that you need to consider before taking a deal from a cash buyer.


Advantages
When you choose to sell your house in order to buy a new one there are a lot of legal and financial aspects that you need to take care of. Given the current financial crisis, lenders require a deposit of at least 10%. This sum is added to other costs such as mortgage arrangement fees, valuations, legal fees, stamp duty, surveys, removal, maintenance and so on. Some of these aspects such as maintenance and surveys can help you determine or improve the value of your current home but they are quite time consuming and in the long run you may not even break even. However if you sell your home to a cash buyer you will not only avoid these additional expenses but you will also manage to seal the deal in a timely manner. This is an easy way to sell your house fast and with minimum effort. You won’t be charged any fees for the house sale, you will deal with property experts and you will receive the money in a matter of days. Furthermore certain cash buyers allow you plenty of time to stay in the house in order to get your affairs in order.
Disadvantages
The problem with selling your home to a cash buyer is finding a reliable one. Despite the fact that this is a safe and easy way of selling a house, there are certain companies that will try to take advantage of desperate people. In most cases, a cash buyer will offer you about 90% of a house’s value but certain companies will go as low as 80%. Generally when the property experts are in a rush to seal the deal, they are probably giving you too little money. Haggling is a part of any sale therefore stay away from buyers who are trying to rush your decision. Keep in mind that there are a lot of people who pretend to be cash buyers but in fact are trying to commit fraud. If you sell your home to a person who later changes his mind, don’t give any refunds before making sure that the check clears. As long as you find a reliable fast buyer, there are little to no advantages.

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