When to Sell Your House to Indianapolis Cash Buyers?
When wanting to sell a house, most people would go through the traditional route of finding a realtor to put the house on the market. While this classic way of selling house may work, there is certainly a growing need for cash buyers. So who are Indianapolis cash buyers and why should you sell to them instead of listing your house with a real estate agent?
Who are cash buyers?
The name is self-explanatory – cash buyers are the ones who offer you cash for your house. A cash buyer is more likely to be an investor, who is looking to make profit from the transaction. A cash buyer may use his own cash, pool together funds from a group of investors, or take out a loan for the purchase. Some investors also use the funds from their retirement accounts, such as a self directed IRA or a Solo 401k plan.
To learn more about investing with a Solo 401k plan watch the video below:
After purchasing the house from you, a cash buyer can fix up the house and resell for profit. He or she can also turn the house into a rental property. Some cash buyers can also reassign the buying contract for a fee to another investor who will then do the rehab work.
Why would you want to sell your house to cash buyers if they don’t offer the best price? Most sellers have their reasons. Here are some situations when it would make sense to call a cash buyer:
When your house requires major rehab
Most real estate agents will tell you to get your house in tip-top shape before selling. This is helpful to attract more offers at a better price. But what if the house needs more than a new coat of paint? What if a total rehab is in order? When it’s time to sell, many homeowners realize in a hard way that their houses are just not in a good enough condition to attract regular buyers.
What if you just don’t have the time or money to fix up the house? This is when a cash buyer comes in. Often, cash buyers are willing to buy distressed property to fix up, so you can sell your house as-is without putting in any work.
You have to remember, that if your house is not in tip-top shape, then sometimes banks may not be able to give loans to homebuyers for these houses. This happens a lot of time when home buyers are looking to get an FHA loan on the home.
When time is of the essence
When you list a property with a real estate agent, it can take weeks or even months before you receive the first offer. In most situations, home owners are prepared to wait, but in some cases, they cannot.
Perhaps you are falling behind on mortgage payments. Or if you inherited the house from a family member, but the expenses such as insurance and taxes are piling up. Or perhaps you just need the money quickly to cover other bills and expenses. There are many reasons why a home owner may want to sell their house faster.
In such cases, a cash buyer would be the better choice. Often, the cash buyer can make the offer within a day or two, so you don’t have to wait around not knowing when an offer may come in.
Even with an offer after listing with a realtor, the traditional process often takes longer because the buyer needs to get approved for financing, such as a bank mortgage. Cash buyers often invest their own money or have their finances sorted out. Many invest with funds from their Solo 401k or self directed IRA, which allows real estate investments. Others may already have a line of credit or work with private lenders. Because of that, the deal can be closed faster with cash, without any complication.
If you’re interested in selling to a professional Indianapolis Cash Buyers please call 317-455-6768
