Are you selling your Orange County Home? You’re making a smart choice to take advantage of the current sellers market, to either sell your home and cash out, or upgrade to a bigger Orange County Home.
As a seller you might come across a buyer who is willing to pay cash; if this situation does occur the question to ask is should you choose the cash buyer versus a buyer who has to finance and get a traditional mortgage loan? The answers to this question might surprise you.
A Faster Transaction
The first reason you should prefer a cash buyer versus a homebuyer with a mortgage is speed. With a cash transaction, you can sidestep the banks and their sometimes lengthy financing approval process and sell your home quickly. The less parties involved in a transaction, the more likely you are to have a speedy transaction.
No More Pre-Existing Conditions
Thanks to an all-cash transaction, you won’t have to worry about the buyer missing out on the opportunity to obtain financing to purchase your home because of your homes condition, a room addition that was built without the right permits or something that a home inspector might find and bring to the attention of the lender.
By paying for a home with all cash, it’s a simple transaction and anything that comes up during the home inspection can be easily resolved between the buyer and seller's listing agents or Lawyers without the seller risking the opportunity of losing a serious buyer because their bank wouldn't finance their mortgage loan.
Eliminate Problems With Appraisals
Another reason for a seller to accept a cash offer on their home, versus financing, is eliminating the possibility of the buyers lender appraising the home for more than what it’s worth and then that buyer is faced with the prospect of having to finance more money or risk missing out on the opportunity to purchase a great home.
To learn more about the benefits of accepting an all cash offer, if you’re the seller of an Orange County home, contact Fred Sed & Associates today by calling (949) 272-0125.