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Having a cash buyer means you are able to sell your property quickly and easily, without the need for bank approvals or lengthy inspections.
Most home buyers do not want to spend time and money on repairs when shopping for a home. If you have the option to finance the repairs and the time to do so, that may be the direction you want to go. When urgency to resolve a financial burden is creating stress in your life, then selling your property quickly and easily becomes a high priority.
Rebecca and Jim live near Joint Base Lewis-McChord (JBLM) military base, where they work. Jim has orders to transfer. Due to the age of their home and repairs needed, Rebecca and Jim are looking for a cash buyer. Whether or not Rebecca and Jim sell their home with a realtor or to a cash buyer, the market value of the home will be reflected in the amount of repairs needed and estimated repair time, as well as market demand from prospective home buyers.
Barbara recently lost her husband unexpectedly. Her husband's adult children from another marriage want to sell off their father's estate. The proceeds would be split between the two children and Barbara. Barbara does not wish to remain in the home and will relocate to be closer to her own relatives.
Barbara's husband has owned and lived in the home many years and accumulated a lot of what buyers would consider clutter. In addition to repairs needed for the much older home, probate and arguments over the estate have left everyone weary. The thought of cleaning up the property and the desire to be done with the associated costs of the estate drive the decision to sell the home quickly and easily for cash.
Caring for an aging parent or loved one takes an emotional toll. When the decision needs to be made to move an elder person out of their home, the impact on the health and well-being of all involved is significant. Fear, tears, and anger are among the stressful feelings and yet our loved ones need empathy, compassion, and support through this difficult period. Similar to estate sales, there frequently is a property that has accumulated years of treasures that cannot go with the home owner when their personal care and financial stability are at risk.
This is a good question, and even the experts, such as us, will simply be taking an educated guesstimate. The market is determined by many factors, such as what real estate is selling in your neighborhood that is similar, or nearby properties, and the price those homes sold for recently. This information becomes the after repair or rehab value (ARV).
Then we factor in labor and material costs for home repairs and the expected time frame to complete those repairs, or the time and projected costs of an extensive rehab.
This is a simplified version of the value of a home that needs some or a lot of fixing-up:
ARV minus the combination of the rehab costs plus associated costs for the length of time to hold the home while repairs are made, and then to market, sell, and close the property after its ready for its new family
= estimated as-is value for your home.
Expected time frame is a big deal. If your home requires repairs that take six months or longer, that creates a very big guess on what the market will be like in six months to a year.
We remember 2008 and the aftermath of that time period very well!
If you are a seller that sits on your home price for six months, you could very well lose considerably more money than if you sell to a cash buyer today.
This is equally true for those of us buying homes with cash. Simply put, homes requiring that much repair or rehab time are likely to yield a lower price to adjust for unforeseen circumstances.
Finding yourself in a position to liquidate your property is generally uncomfortable enough that a fast closing is preferable over costs and delays to listing a home on the open real estate market. Check out We Buy Houses Puget Sound cash-buyer-wanted story in the video on our About-Us page.
When you need to sell your home fast, having a local cash buyer will greatly simplify the process. Contact us today for a discovery call and let's get your cash offer started. You are under no obligation. We make the process smooth and easy, providing you with a quick resolution to your needs.
We Buy Houses Puget Sound is led by Babette. Whatever your situation may be, if you prefer, we will guide you through options to explore. We will prepare a cash offer for you if your situation qualifies. There is no obligation for you to accept our offer. With We Buy Houses Puget Sound, you are that much closer to happiness.