Cash Buyers for Homes

People still have to get clued up over adverts that say cash buyers for homes, or when they type into Google, sell my house fast for cash; the results aren’t generally what they’re expecting for the simple reason that there are in reality, very few people who would buy a house for cash.

It’s certainly not a good use of resources even if you can afford it as using finance creates leverage so that buyers can buy more property.

The fact of the matter is that someone will probably turn up and offer far less than it’s worth and then tie you into a deal whereby they take over your mortgage so they get a cheap secure finance package. This is commonly called an option deal and might be anything but the best option for the seller. By making the contract assignable it could be sold on without the need for any legal framework other than a simple agreement.

Whenever someone requests sell my house fast for cash or looks for cash buyers for homes they are saying to the world I want to get rid of this money draining responsibility, buyers understand this and look to make as much money from a deal as possible, often without finding the best solution to the problem that got the person into that situation in the first place.

 

Nobody can refinance a property within six months anymore so why would anyone leave their most liquid asset in a deal if they didn’t have to? Wealthy people often understand tax and finance laws to the detriment of those people in financial trouble. As the average salary is now over ten per cent less than it was seven years ago, it obvious that a lot of people will be struggling to keep up payments on their home.

When you want to buy a cheap property and make money on it with the least responsibility simply follow five golden rules. Firstly find motivated sellers and then make them a discounted offer. Next include an assignment clause in your contract. Market the property to find someone who will take over the option for a finder’s fee and assign it over. Many people who do just this often have a second phone as they do not want to be contactable when they don’t have a deal on the table. Whichever side of the fence you sit on we suggest a deal should be fair all round and if you can think ethical you probably will be. As an investor there are generally three questions to ask of anyone presenting a property opportunity. Where’s the money in the deal? When will it flow to me? And, how much is it? As a seller there again are three essential questions. Do you actually have the money to buy this house without finance? Are you going to pay me a fair price where we both can gain and feel satisfied with the outcome? And are you expecting to take over my mortgage? Being clued up on these points can help all concerned.

Always be dubious of cash buyers for homes.

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