FREE Guide: Learn The Pros and Cons Of Accepting A Cash Offer On Your House

Benefits Of Accepting A Cash Offer On HouseAnd What 4 Hidden Costs Creep Up When Listing With An Agent Or Selling It Yourself

PLUS: What big pitfalls to watch out for when you’re selling your house with a real estate agent, by yourself, and even to professional home buyer like Native Realty

Missing one of these critical “pitfalls” could mean more stress and expense for you when your house finally sells.

There are 3 main ways to sell your Oklahoma house.  All with their own pros and cons.

  1. List it with an agent
  2. Sell it yourself (FSBO)
  3. Sell it to a professional Oklahoma cash home buyer in Oklahoma

All three options are great in certain situations… and terrible in others.

Learn when to list with an agent, when to sell yourself, and when selling to a Oklahoma house buyer or real estate investor, makes the most sense.

And, learn the costs associated with each option… because you’ll be surprised at what “hidden costs” there are in listing with an agent or selling it yourself that most people never even think about until it’s too late.

Enter in your name and email in the form to the right to download this free guide.

If you need to sell your house quickly… this guide walks you through why real estate agents may end up costing you tens of thousands and still end up not getting your house sold.

Download the guide today >>>>>>>>>

– Native Realty


Do you need to sell your home fast? Selling to a cash home buyer is always an option whatever your circumstances, although it is more suited to people who need to sell their homes, rather than just want to sell.

Benefits Of Accepting A Cash Offer On House:

Typical reasons why people accept a cash offer on their house:

  • Need to sell quickly to avoid repossession or foreclosure
  • Need to get money quickly for reasons such as debt repayment
  • Need to complete a house purchase quickly
  • Relocation
  • Probate, Inheritance
  • House needs repairs
  • Code violations, Permit issues
  • Financial trouble
  • Bad tenants
  • Save on realtor fees

The Pros

  • Speed – a Oklahoma Cash Home Buyer can guarantee a quick sale, within a few days if urgent
  • Certainty – Oklahoma Cash Home Buyers are not subject to the issues that can affect a sale to a residential buyer who is getting a loan
  • As-Is Sale – Oklahoma Cash Home Buyers buy properties in their current condition. You don’t need to worry about repairs

The Cons

  • You will not get full market value for your property with a Oklahoma cash house buyer
  • There are some people involved in this industry that you should be weary of

 

How It Works

Oklahoma cash home buyers offer to buy your house quickly. You can often sell your house within 7 days.

Typically for a straightforward quick sale, Cash  home Buyers offer around 65-85% of the open market value (open market value is the price that the property could be expected to sell for within 6 months at the current market if it is in updated and in excellent condition).

The valuation is undertaken by them or their nominated Appraiser, and is usually less than the asking price a Real Estate Agent would have advertised the property at.

 

Here is a typical scenario:

Real Estate Agent advertised price: $150,000

Open Market Value: $140,000

Quick House Buyer cash offer: $105,000

 

The offer made by such a Cash Buyer might seem unreasonably low. However, in most cases the properties will be sold on by them, either via the open market or at Auction, and still at a discount to the market value, to achieve a quick sale.

In addition the buying, selling and financing costs can be considerable. In an uncertain property market, Cash Buyers are also going to build in safety room for them for prices falling between when they buy and sell.

A quick sale to a Cash Home Buyer should be considered where the benefits of a quick sale outweigh the drawback of selling below the market value.

If you need or want to sell your house fast, contact us today at: (405) 543-2323 or use our easy and fast online form.

Thank you for reading.


What Are the Benefits Of Accepting A Cash Offer On Your House?

Depending on the temperature of a marketplace, paying cash for a home has benefits from a seller’s point of view, and this strengthens the negotiating position of buyers who can afford to pay with cash. While it’s true that all transactions lead to cash in the end, the realities of financing place obstacles between buyers and that the end. Sellers naturally want to deal with buyers who face the fewest obstacles.

Why Sellers Like All-Cash Offers And The Benefits Of Accepting A Cash Offer On House

Some sellers choose all-cash purchase offers over higher-priced offers with conventional or FHA loan financing because they know a cash offer faces fewer stumbling blocks and is more likely to close.

Lenders require homes to be appraised before closing, and an appraised value less than the amount of a mortgage can spell contract cancellation if a seller doesn’t come down on price or a buyer doesn’t increase the down payment. The most common method for appraisals involves looking at comparable sales. This involves choosing three to six properties and comparing those values to the property in question and adjusting upward or downward for updates or missing features. Cash takes the lender—and the need for an appraisal out of the equation.

Even buyers fully qualified for a home loan can be tripped up by any of multiple contingencies. Buyers’ qualifications can change upon further scrutiny. Perhaps a buyer wasn’t fully employed in the same occupation for the past two year, or financial situations changed prior to closing because the buyer bought a new car or was a victim of identity theft. If buyers have cash, no such potential problems can derail a sale.

Cash sales also take less time. Buyers do not need 30 or 45 days to close if they are not obtaining a loan. Once a home inspection and other contingencies have been satisfied or released, closing can take place in as little as seven days, provided that the buyer is willing to sign a lead paint waiver. A faster closing puts money into a seller’s pocket sooner. There are also fewer things that can go wrong in a short escrow period.

Incentives for Buyers to Pay Cash

Because of the reasons for sellers to prefer cash deals, it makes sense for buyers to want to pay with cash—especially in sellers’ markets. Buyers willing to pay with cash have an inherent advantage over those who need to borrow.

Lenders with multiple foreclosures in their portfolios sometimes discount the list prices in the hopes that properties will attract multiple offers. Again, buyers who pay cash for these real-estate-owned (REO) homes tend to win multiple offer situations.

There are benefits for buyers other than just negotiating strength. Paying for a home with cash means they have no mortgage payment to make each month, and the equity in the home provides a sense of security if financial emergencies arise. While market fluctuations can change the value of a home, owners without a mortgage still have 100% equity in whatever that market value is. As well, there are no restrictions on title transfer due to an underlying loan since there is not one.

If you need or want to sell your house fast, contact us today at: (405) 543-2323 or use our easy and fast online form.

Thanks for Reading!