Need to sell your home quickly but not sure about signing a deal with that shady guy in the beat up 1980 pickup truck with the magnetic ‘We buy houses cash’ sign on the back?
He might be loaded and just be on the way back from remodeling another home or he may really not have a penny to his name and just be hoping to lock you into a contract which he can sell for a profit to someone else like Timeless Estates who really does have the cash. Nothing wrong with this but you should never sign over a deed to your home until you see the green. You shouldn’t even enter a contract with someone these days for selling a home for cash unless you know who you are dealing with and that they are qualified to buy your home.
If you are in a hurry the last thing you can afford is wasting months with a buyer who is scrambling to find financing and doesn’t have more in their pocket than a dollar menu burger.
If you are in foreclosure or at least falling behind on mortgage payments or it is going to cost you more money to fix up your home or travel back to try and sell one you have already vacated then selling a home for quick cash may certainly be the smartest option if not your only one.
Of course, if you only have days to close, your home needs some fixing up and you aren’t inundated with other qualified offers selling a home for cash can mean needing to accept a discount. It is risky for buyers and investors to take on homes without the proper time for due diligence and they are going to have to put more money into it to upgrade it and market it for rent. You probably aren’t going to get what your neighbor down the street is ‘asking’ nor the brand new development a few blocks away but they probably aren’t going to get that figure either. There is a big difference between ‘asking price’ and ‘selling price’.
However, you may be quite pleasantly surprised at what you do get offered and you’ll never know unless you ask…