A Basic Explanation of How Real Estate Cash House Transactions Take Place
All the successful real estate transactions in the world today are pegged on three main things: reliability, credibility, and professionalism of the property buyer. Sadly, this lucrative industry has been marred with very many unscrupulous service providers that spoil the good name of the credible cash home buyers out there. It is no wonder you are advised to do your due diligence and ensure you are dealing with a registered and reliable cash home buyer that will ensure a successful transaction.
But how do you get a real estate investor if you don’t know how this cash house buying business works in the first place. The moment you contact a genuine real estate investor expressing your interest to sell your property, they will extend a no obligation cash offer after conducting an inspection of your house. Genuine cash house investors will have the no obligation cash offer at 80% off the market value of the house in question. You might be wondering why you are not getting 100% of the exact market rate of your home.
See, the investor is taking your property “as is” meaning you will not be expected to fix any broken pipes or do any renovations on the house. There is also the short processing period that such transactions take, sometimes even closing in less than a week once the process begins. This also presents a risk that should the investor fail to do enough due diligence on the property, and it ends up scandalous, they risk losing their hard-earned cash.
Of course, there is also the cost that comes with renovations, upgrades and time spent on the works to make the property market-worthy. As a matter of fact, this is how the buyer makes a profit, upgrading it and putting it up for sale in the hope of finding a potential buyer soon and making their money.
Having said that, the next important thing is to understand who stands to benefit from dealing with cash house buyers. It is unfortunate that many people have been misled to believe that these deals are meant for people who are divorcing or those facing foreclosure and have no other way out. Contrary to popular belief, every homeowner today is looking at these seamless and straightforward real estate transactions. This is because the process is often very fast, straightforward and has the least amount of paperwork, especially when compared to dealing with real estate agents. But then again, you can only enjoy all these benefits and more when you do your due diligence as well and find a genuine and dependable cash real estate investor.