Cash fast offers

Cash fast offers are quickly becoming a preferred choice among real estate buyers and sellers.

Using cash instead of financing through a bank can save time, money and frustration. Sellers who need to sell their house fast are usually willing to lower their asking price when a buyer offers cash. Although they make less money, they can sell the property quickly and close in a matter of days.

Cash fast offers can be made on any type of real estate. Desperate homeowners are eager to locate cash buyers because it gives them negotiating power with their lender. With the massive number of foreclosure properties, many lenders are now offering the option of short sales. This agreement allows borrowers to sell their house for less than they owe on their mortgage note.

Two types of short sale agreements exist. The first is known as Payment in Full without Pursuit of Deficiency Judgment. What this means is the bank will accept the sale price as payment in full and the borrower walks away without owing any money. Obviously, this is the preferred choice.

The second type of short sale is known as a Deficiency Judgment. Borrowers are responsible for paying the difference between the purchase price and mortgage loan balance. Lenders establish the lowest offer they will accept on the property within the short sale approval documents.

Entering into a deficiency judgment could cause serious financial harm. Therefore, it is crucial to weigh the consequences if this is the type of short sale agreement your lender offers. Currently, lenders approve about one of ten short sale requests. You can improve your chances of approval by locating a cash buyer prior to contacting your lender.

Another reason property owners need to sell real estate stems from probate. When a person dies, everything they own must be accounted for. The probate process is used to validate decedents’ last will and assess a value of their estate. Unfortunately, courts are overflowing, and the probate process is painfully slow.

Throughout probate estate executors must pay all costs associated with the estate, including real estate holdings. When probate properties have an attached mortgage, the estate can go bankrupt if the decedent did not have sufficient funds to cover expenses.

If real estate holdings become a financial burden, estate administrators can opt to sell the property. Probate real estate is often a great investment because homes are usually well maintained and do not require as much work as foreclosure or bank-owned homes.

Homeowners who need to sell their home due to employment relocation or health issues welcome cash fast offers. Many of these individuals are paying two mortgages, along with utilities and general maintenance. They are usually eager to lower the price when buyers offer cash.

Many people who own vacation homes or rental properties are struggling to make ends meet. Drive down nearly any street and you are certain to find homes owned by people who need to sell fast. Some of these sellers are placing “Discount for Cash” stickers on their For Sale signs.

With the current credit crunch many private investors are buying houses with cash because banks have become more stringent with lending criteria. Many of these investors obtain soft money loans through private individuals and are purchasing investment properties on their behalf.

In today’s shaky economy, cash is king. Individuals who buy homes with cash have greater negotiation power, while providing financial relief to cash-strapped sellers.

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