Not every home sells through a conventional real estate listing.
Properties in less-than pristine condition may linger on the market, necessitating a price reduction.
There may be issues that come to light during a regular home inspection. The home can be appraised at a much lower than expected value. Whenever a potential buyer is seeking a bank mortgage, there are a long list of contingencies. Before agreeing to lending, the bank may demand specific repairs. An older roof, even one in perfect working order, won’t qualify for insurance. The bank will then require a replacement. Everything from the newness of the electrical panel and HVAC system to the integrity of plumbing, septic and foundation may come into question. This often leads to lengthy negotiations. The cost of replacements, updates and repairs most often falls on the seller. Either they handle these needs or sacrifice on the price of the home. It’s common for a deal to fail because there are simply too many working parts. Even if the house is finally sold, there are real estate agent commissions, closing costs and all sorts of fees. In many cases, working with a cash home buyer is the better option. For example, hurricane season in Jacksonville, Florida, causes a great deal of damage to local homes. There can be roofing problems because of fallen branches and trees. There can be widespread flooding. Those houses become a burden and difficult to unload. However, cash homebuyers accept properties in any state of disrepair. A cash offer can be obtained within twenty-four hours. The homeowner simply needs to provide some information by way of an online contact form.
