A Basic Explanation of How Real Estate Cash House Transactions Take Place
It is important that you take the time to work with a dependable, reliable and professional real estate cash home investor if you are looking into having a successful transaction. Sadly, in as much as there are very many genuine cash house buyers in the market, there is also this category of investors whose main agenda is to spoil the good name of the genuine buyers. It is no wonder you are advised to do your due diligence and ensure you are dealing with a registered and reliable cash home buyer that will ensure a successful transaction.
But how do you get a real estate investor if you don’t know how this cash house buying business works in the first place. See, once you express interest in selling your home, a real estate investor will give you a no obligation cash offer. Many at times the cash offer will be at 80% less the existing market value of comparable property in the market. Well, well, well, why not get the full 100% of the total cost of the house, you might be wondering?
See, the investor is taking your property “as is” meaning you will not be expected to fix any broken pipes or do any renovations on the house. Another reason why the investor has to cushion themselves with the 20% off the market price is because of the imminent risk that comes with having a short processing period. See, the investor is also taking a huge risk and should they fail to do enough due diligence on the seller; they risk losing their hard-earned cash as well.
Then there is the high cost of refurbishment, renovation, and of course the time it will take to upgrade that house and put it back in the market in the hope of finding a new buyer. As a matter of fact, this is how the buyer makes a profit, upgrading it and putting it up for sale in the hope of finding a potential buyer soon and making their money.
Having said that, the next important thing is to understand who stands to benefit from dealing with cash house buyers. Most people have been misled to believe cash house real estate investors are for people in distress, e.g., people facing divorce or foreclosure. Truth of the matter is, anyone who is looking to sell their property today, whether in distress or not, should work with genuine property cash investors. If not for anything else, the process is highly expedited, and there is less paperwork involved, thus attracting thousands of homeowners who may have otherwise had a bad experience with the real estate agents. But then again, you can only enjoy all these benefits and more when you do your due diligence as well and find a genuine and dependable cash real estate investor.