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Should You Accept A Cash Offer?

THINKING OF SELLING YOUR HOUSE?

I’m sure you’ve seen your fair share of We Buy Houses Cash signs posted on the side of the roads. You may have even gotten a few postcards or letters saying the same thing, so you know the pitch.

Cash offers can be a great option for homeowners who are facing tough times or uncertain financial situations. Unlike traditional offers that involve a mortgage loan contingency, cash offers are more attractive because there is no need to worry about any financing contingencies or whether the buyer has the funds to close the deal.

There are times when selling your home to a cash buyer does make sense. However, make sure the company you are dealing with is legitimate and reputable before you do.

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What is a Cash Offer on a house?

Receiving a cash offer doesn’t necessarily mean you will receive a big duffle bag full of cash neatly bundled together at the closing. Although this may sound interesting, this typically isn’t the case.

A cash offer on a house simply means that there is no mortgage or other financing contingencies when purchasing the house. Cash offers are usually more attractive to sellers because there shouldn’t be any risk of the deal falling through due to financing. Cash offers tend to close faster as well.

If you are interested in a cash offer on your home, Yes I Pay Cash can help. We are local cash buyers with an A+ Better Business Bureau rating. Contact us today for a fair cash offer.

Why sell my house to a Cash Buyer?

There are several reasons you may want to consider an all cash offer for your home. If your home is in need of repairs or any other form of distress, it may be a good idea to sell it as-is to a cash buyer. Cash offers tend to provide speedy transactions with very few contingencies.

Cash offers are not contingent on mortgage approval so you shouldn’t have to worry about financing falling through or appraisals which makes the closing process a lot faster and smoother.

Are those We Buy Houses companies legit?

There are a lot of legitimate house buying companies out there. Reputable companies often help home sellers who may be in a difficult situation.

Make sure you are dealing with a reputable company with verifiable references and always do your due diligence before entering into an agreement to sell your home.

If you are interested in a cash offer on your home, Yes I Pay Cash can help. We are local cash buyers with an A+ Better Business Bureau rating. Contact us today for a fair cash offer.

How to recognize a serious Cash Buyer for my house?

A serious cash buyer is someone who can really close the deal and deliver on their word. A true cash buyer should be able to provide you with a proof of funds within 24 hours. They will also answer your calls and any questions or concerns you may have.

Making an offer does not necessarily mean that a buyer is serious. A serious buyer understands that they need to make a reasonable offer so that you will consider it. If the bid is too low, you might be dealing with someone who is not quite a serious buyer.

How to spot a FAKE Cash Buyer for my house?

There are a few warning signs you should be aware of when dealing with potential cash buyers:

They can’t provide proof of funds to purchase your house. A serious cash buyer should be able to present you with a verifiable proof of funds within 24 hours or less.

They need more than 30 days to close. Most serious cash buyers can close as soon as title work clears which can be done in a week or two. If a buyer needs more than 30 days to close they are most likely trying to find someone else to assign/sell your contract to.

Trying to renegotiate the price after signing the contract. When they can’t find someone else to sell the contract to, they come back asking for a price reduction or extend the closing date.

In closing

Cash offers can provide serious benefit for both sellers and buyers. Be sure to consider the benefits and drawbacks as well as who the offer is coming from. You want to make sure that you are dealing with a reputable buyer that has the wherewithal to follow through and close the deal.

Get A Fair Cash Offer