Are you planning to sell your home? Accepting a deal for your property from a cash buyer might be the best decision that you’ll never regret later in the long run. With a numerous ‘we buy houses for cash’ companies being established in the locality, the demand for cash buyer is running over the roof. Even though such companies and establishments might seem shady to naked eyes, they are indeed a blessing in disguise.
When you are planning to sell a property in NY, most of you will be left with few options where opting a property chain top the list. Even though a property chain to sell your house in NYC seems to be a profitable idea it can really get into your nerves within no time once the mortgage gets declined, or buyers refuse to commit on buying your property. With the property chain scenario blowing off your dreams of buying a new house with its prolonged time period and complicated procedures the only thing that can be your pipe dream is ‘sell your house for cash’ scenario. Here are some of the advantages of selling a house to a ‘we buy house for fast cash’ company.
Sell Your House Fast
Selling to a cash buyer in NYC is indeed an excellent opportunity for everyone, but it is more suited to people who ‘need’ to sell their property, rather than just ‘want’ to sell. Did you understand the difference between need and want here? Well, allow us to make the frame clear to you. Sell property for cash will be apt if you are facing a foreclosure, bankruptcy or other financial difficulties were selling your house is the last resort you can try. The tradition home selling procedures will take a lot of time and might be hefty on your bank. Well, you can’t expect foreclosure to wait around till you’ve found a suitable buyer. Instead of waiting for someone to show up with a prominent offer for your foreclosed property, a cash sale is much faster. This will save you from foreclosure and become homeless as you’ll be able to arrange the desired money right in time to relocate or buy a new home quickly.
Sell Your Home As Is
When a cash buyer offers a price for your home, it means they are fine with buying your home as-is. You don’t need to worry about the extra renovations charges or repair costs that will be done on the property. Well, this might be a massive relief for you as we do know how the expenses can shoot up when trying to replace the air conditioning or demolishing the wearied out patio. By selling your house to a cash buyer, you shouldn’t be worried about putting your home in a showroom condition which means you save a lot of time and money. If you are hoping to sell your house hassle-free, finding a company that buy houses for all cash in NY can be your best option.
A Hassle-Free Real Estate Solution
The house selling process tends to be lengthy and complicated. For a person who doesn’t know his/her way around the industry will find it difficult to sell the property in NY. By finding a suitable and professional cash buyer who can offer fair prices for your property you’ll experience real estate at its best with hassle-free services. Forget about all those hefty paperwork, loan denials, unsure buyers who always back out near to the end and much more. Speed, convenience and the ability to avoid complications still matters when it comes to selling a property that you’ve been holding near to your heart. With less hassle, you’ll move on faster from your emotions towards the home.
Always look for someone who is professional and has experience in real estate. An experienced cash buyer might be able to get you the right price you’ve always wanted for your house. Find the nearest property dealer or a real estate company in NY to help you in selling your home for fast cash and to sell it quick.
Are you trying to sell or buy a property under short sale?
You probably must have heard the term “short sales” a lot in these past years. Short sales are something we hear more often when it comes down to real estate area. Short Sale meaning isn’t something every commoner will understand. So, let us be more clear on the topic here. A short sale is when someone sells his house, with the awareness and approval of the mortgage lender for less than what he/she owes to the lender. If the lender accepts the terms, then you can proceed with selling the property.
For example, consider you’ve defaulted on the payments and your mortgage lender has filed a foreclosure in the bank against the property. Panicking won’t do anything when you are facing a foreclosure. You can talk with the lender and put your property on short sales hoping for other buyers to buy the property. So, you owe your lender a $500,000 but, the new interested buyer is only willing to pay a $400,000 for the property. You might not be in a situation to pay off the difference amount too. So, convincing your lender to agree for a less amount than you owe is short sales. Most of the lender and banks agree to the terms as this is time-consuming and with a lot of hassle. The final result a win-win situation as the seller is no longer saddled with the debt and the buyer gets the property at a bargain price.
So, if you are selling or buying a property and is considering a short sale, here are the top things you need to know before proceeding with short sales before fixing the deal…
Know the Difference Between Short Sales and Foreclosure
This is something most of you might get confused upon. Short sales and foreclosure are entirely different scenarios. In a foreclosure, the role of the homeowner is slightly less than in short sales. People who try to avoid a foreclosure by working out a deal with the lender or bank usually go for short sales. And there isn’t any tension about evicting the previous owners in short sales as in foreclosure. Well, things do get messy in foreclosure!
Unlike a foreclosure, short sales don’t impact your credit much. Still, it’ll damage your credit score but not for as long as the damage done by a foreclosure. You’ll even have the chance to apply for a home loan for two years while in short sales.
Takes A Lot of Time
A short sale doesn’t refer to the time involved as the whole term is somewhat misleading. A short sale can take up to five to nine months to close; sometimes even longer. If it’s the bank you are dealing with, don’t expect the bank to come to you and tell how much it would accept for the property. So, what you must make sure is that while negotiating with the interested buyer, you should get the price that has been approved by the lender or the bank for the property. Finding a suitable buyer to buy short sale property or buy short sale house can be troublesome without the help of an experienced short sale negotiator. So, the whole short sale process is time-consuming and a bit nettling.
Make Sure You Are Eligible For Short Sales
Saving your property by avoiding foreclosure with short sales seems pretty alluring but, have you cross-checked your eligibility for proceeding the short sale services? You must meet all the criteria and might require a written proof stating your eligibility from the bank or the mortgage lender. This itself will be time-consuming but have patience! For being eligible for short sales, you must owe more money to the bank or the lender than the house’s total worth. If you are eligible for any loan modification, then you can rule out all the possibilities of a short sale approval. A written proof that states you can no longer afford the monthly payment and any proof of financial hardships, like laid off or divorced or having excessive medical bills will make you eligible for proceeding with a short sale.
Make sure you pass all these eligibility criteria before even trying for short sales as this is full of hassle and time-consuming.
It’s Time You Consider a Helping Hand
Buying or selling short sale property will be a lot more troublesome if you are planning to go ahead alone. You’ll be facing a lot of pressure mentally and emotionally through the whole process. The first thing you need to do is find a trustworthy agent to sort out your problem. A real estate agent who’s experienced in every aspect of real estate can make a huge difference especially if you are selling short sale property. The short sale process involves a lot of legal procedures and paper works, which will leave you frustrated in no time. A Short Sale specialist who’s familiar with all these stages will help you push further without any difficulties. Well, the time flies, and you need to act more quickly in finding a buyer, or you can still face foreclosure.
Keeping your patience and confidence is the main key to every successful short sale. With the right agent who knows his way around will be a boosting factor when going for short sales. Also, beware of the cunning smiling faced agents who disguise and misleads you by offering a helping hand when you are vulnerable.