If you are looking to sell your house in San Antonio, Texas, there are many types of buyers that you will encounter. Some buyers take out a mortgage to afford your property, others go for home loans; there are others who promise to pay you on installment, while there are those who can afford to buy your house’s full amount in cash. Whatever works best for you is really a matter of preference, as well as your needs. There are sellers, however, who prefer cash buyers, so if you are one of those, check out this map of San Antonio We Buy Houses to get a head start on your search. This article gives you the benefits of having cash buyers purchase your house.
- Your property will not have to go through an appraisal contingency.
When you are going to sell your San Antonio home, the best way for any realtor, buyer or lender to know the value of your property is to allow the property to proceed with an appraisal. This process, however, is time-consuming to begin with. To have a comparable estimate, appraisers will compare around five to six houses around the same area, with a relative style, size, and age as yours.
Apart from being time-consuming, another negative thing about appraisals is that your property might go through a contingency. Often, because the houses that have been compared to your home are of little value, the value of your home can decrease much less than what it actually is worth. A part of this is also due to the fees that you have to pay to the people involved in the process. Hence, you may be losing more than when you sell your home for cash.
- You will not have to work on any repairs on your home just to close a sale.
When selling your home in San Antonio to cash buyers, these buyers take your home as is. They offer to buy your property as it is in exchange for a full cash payment. With this, you will no longer have to do any necessary repairs to your home. Hence, your move becomes more worry-free, as you no longer have repairs to think about, undertake, and spend for.
If you sell your house to a realtor, you will have to do all the necessary repairs and renovations to make your home more presentable to buyers who will most likely take out a loan to purchase your home for a more expensive price. Although selling your house as it is means that you will have lesser cash proceeds from your house, do remember to factor in that repairs can be expensive and time-consuming, too, if you have to do all these first before putting your home up for sale.
- Your property will get sold faster.
The process of selling your house to cash buyers is very simple and straightforward. There’s no fuss, and there are no mediators involved. It’s just you and the buyer, who is willing to take in your house as is. Therefore, if you need to get rid of your home very fast, or if you need the money quickly, this hassle-free process is still the best way for you to go.
- Your sale process will not have to go through any loan contingency.
The most common form of buying a house is through potential buyers taking out a loan for your home so that they can afford to purchase the same. However, many potential problems may arise from depending on a loan to buy your house. Even when you have already met a potential buyer, the credit that they take out may go through difficulties, which can affect your sale negatively. Because of this, you may need to go back to Step 1 with looking for another buyer, which becomes a very time-consuming process.
There are many reasons for loan contingencies to arise, some of which include:
- The credit score or financial portfolio of your buyer may not have been altered before purchasing your house but during the loan application process, because of buying a car, for example, or emergencies
- The buyer may not be approved for a loan, because they are not employed in the same company anymore
- The buyer simply doesn’t meet the requirements for the approval of a loan
- You will enjoy all the proceeds of the sale of your home.
When you are selling your house in San Antonio to a cash buyer, you are dealing with the sale and the whole process by yourself. In this manner, it is but natural that you will also enjoy all the proceeds of the transaction. If you go through the process of allowing a realtor to help you out, the realtor gets a percentage of the sale for their commission. Plus, you will have to pay for the salaries of each person who helped you out in closing the same. With this, you will not really get to enjoy the full proceeds of the sale, compared to when you sell it as it is for cash.
- You will get to close the sale faster.
The average time for a buyer’s loan to get approved is from thirty to forty-five days. Add up to this is the average time of a realtor to reach a final close on your property, which runs from around four to six weeks. With this timeframe, it is expected that it will take approximately three to six months before you can sell your house.
If you are not on a rush, then this timeframe shouldn’t be a problem for you. However, if you need the cash fast, then this period is quite lengthy. Selling your home as it is to a buyer that will give you cash immediately for your house takes only around a week to a month to complete. This time is quite a comparable speed with the other option of selling your home to a realtor.
- You have a sense of security in your sale.
When you entrust your house to a realtor, you do not have a hundred percent assurance that your home will actually be sold by the time that you need to move. This worry adds up to all the other stress factors that you may already be thinking about in connection with your move. It is quite a stressor to keep wondering as to whether or not your house really will be sold in time.
If you choose to sell your house to cash buyers in San Antonio, because they take your house as is, you have a higher sense of security in the fact that you have lesser worries about when your home is going to be sold.
- You will experience lesser risks of the sale canceling out on the very last minute.
There is nothing worse than placing your full trust and confidence on a buyer, thinking that, yes, they really will go through with buying your house. However, on the very last minute, just when you are already nearing the day of your move to your far off location, the buyer cancels out. If your buyer depends on a loan or other financing options to buy your house, many factors can cause the sale to be disapproved at the very last minute, such as loans falling on escrow.
If you sell your house as is to a cash buyer, once the cash is in your hands, and the possession of the house is already with the buyer, the sale is made. You have no more worries to be concerned about.
- Your property value will not be affected by any market fluctuations.
Generally, real estate properties are strong assets. The values of the same do not fluctuate easily. However, this fact is also widely dependent on the general economy surrounding the real estate. Such factors like supply and demand can significantly affect the viability of real estate values. If you are unfortunate enough to sell your house at a time when the market for real estate has fluctuated, then you have to deal with a low selling price as well.
Your sale price is already low, plus add up to this all the other deductions such as real estate commissions, and you are already losing so much in your sale.
- You now have many ways in which to look for buyers yourself.
You should take advantage of the advancements in technology nowadays. Because of the presence of the digital medium of advertising, there are many ways now for you to find cash buyers for your house. This fact eliminates the need for you to rely on a realtor to find a seller. Therefore, the overall process really is easier and more stress-free for you.
Here are some ways for you to advertise your house:
- Classified Ads section of your local newspaper
- Word of mouth
- Your social media sites such as Facebook and Instagram
- Emailing your friends and families
- Enlisting your property on company websites that offer to buy homes for cash
Moving can be stressful, and to add up to this stress also is the burden of having to look for a buyer for your home. When moving, you won’t necessarily have the time to look for a realtor, process so many papers, and all the work that comes along with selling your house. Sometimes, you would like to sell your home as is, to any buyer who will give you cash for it. Hopefully, this article has enlightened you of the stress-free option of offering your home in San Antonio, Texas, to cash buyers.