The Truth About Cash Offers
Cash offers have a great many positives and very few negatives, no matter what your circumstances. Here are 5 reasons you should consider a cash offer for your house in Methuen as the best option.
Reason #1—You Gain Confidence
To put it simply, accepting a cash offer takes all the variables off the table and ensures a trouble-free sale. Because the offer to purchase is in cash, there are no banks involved, which means there are no appraisals for them to approve (to determine LTV loan-to-value), and your property does not have any inspections to pass.
Perhaps the biggest advantage to a cash offer is that you are never worried about how creditworthy your homebuyer is. Are they able to make the payments on the loan that they’re asking the bank for? What is their credit rating and have had they had credit problems in the past? Negative answers to any of these questions could mean weeks and weeks of delay while the loan and the buyers get approved by the bank.
On the other hand, a solid cash buyer should be able to provide evidence of their ability to pay you the full amount of their offer without financing contingencies. This wipes all those financing concerns off the tab;le in one fell swoop!
Reason #2— You Sell Your Methuen House”As-Is“?
Does the property in Methuen that you’re trying to sell need major updates or serious repairs? If so I cash deal is going to be a very profitable way for you to sell. Cash deals, most especially with a direct buyer like Summit Buys Houses, usually involve purchasing the property as-is, or just exactly in the condition, it sits in right now. While it’s possible you will realize a little less for your home when you accept a cash offer, if your home isn’t brand new, avoiding the costs and headaches of renovations, updates and repairs is a top reason you should consider a cash offer for your house in Methuen.
When all the home sale details have been finalized, in most cases, you can just carry out what you want to keep and leave the rest behind, without a final cleaning.
If a cash buyer balks at accepting the house as-is, demanding appraisals and inspections as contingencies, they’ve basically eliminated the attractive qualities of cash offers.
As a word of caution, it’s advisable to contact an independent appraiser in order to know just what you may be facing, should you decide to follow the traditional path of listing your home with a real estate agent.
Check These Facts About Real Estate Agents
When undertaking such a large financial transaction as selling your house in Methuen it is never a bad idea to seek professional advice. Just be aware that there are standards you must meet as the homeowner in your contract with an agent. Among these standards are the nightmare of ill-timed intrusions to allow the property to be toured by prospective buyers. And since the beginning of the COVID-19 era, being ready to show your Methuen house to potential buyers at any time of the week can become a massive problem!
These are just some of the hoops that must be jumped through, along with tons of paperwork, when you list with an agent. Last but not least among the possible troubles that are intrinsic to listing a home in the traditional method is the fact that despite all efforts to complete the deal, the buyer could be denied financing. Because of this, you should pull out a calculator, do some basic math, and carefully consider the benefits of accepting a cash offer for your house in Methuen. When you add the expenses up and the time involved – the cash offer may just be worth avoiding all of these frustrations.
As you work on selling your house in Methuen, there’s one last thing to consider. Perhaps it would be financially beneficial to stay in the home and refinance your mortgage. You might be able to borrow enough money to make some long-awaited updates or even add more living space with an expansion.
Do The Math! It May Mean More Profit!
Don’t worry—it’s not too hard! Your finances are a very important reason that you should consider a cash offer. This is especially true if the last thing you want to do is to pour even more money into your house. You can find a detailed description of the simple math we do when we buy your Methuen home for cash. Traditionally, listing your home with a real estate agent means updating and improving the interior. Not only this, but you’ll also have to be concerned with curb appeal. Along with this, you may need to make repairs to your home in order to pass inspection. Not to mention, their high commissions and additional fees. Along with these hassles come appraisals, inspections, advertising, and staging of your home. If you can’t stay in the home, not only will you bear the costs of maintaining the home while it’s listed, you will have the additional expenses of a second residence.
As The Saying Goes…
Time is money. Time can be a motivating factor, and speed is yet another reason you should consider a cash offer for your house in Methuen. You have come to the decision to sell, whether you need to move due to a sudden life change, relocate due to employment, or just be ready to move up or down in living space. Cash offers generally close very quickly and offer the advantage of eliminating the unknown waiting period that traditional listings always experience. When listing your home on the real estate market, after a waiting period of an unknown length, you’ll face the stress and tensions involved in the back and forth, extremely time-sensitive nature of offers, and counteroffers in the negotiations over the purchase price.
If you are ready to save time, avoid repairs, skip the cleaning, forget about showings, paying high commissions and fees, Summit Buys Houses is here to help. These are just a few of the reasons you should consider accepting a cash offer for your house in Massachusetts from Summit Buys Houses. To learn more about how we can help you with your property, send us a message or give us a call at (978) 254-3800 today!
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At Summit Buys Houses, we pride ourselves on our simple, transparent process. We buy Methuen houses in any condition, quickly and hassle-free. Banks and real estate agents have a place in selling your house, but honestly, sometimes they slow things down too much! So we cut out these middlemen– we give you the highest possible offer for your property. So if you’re looking to sell your home fast and without any headaches, give us a call today!