Maybe you don’t need to sell your house fast for cash in SF Bay Area, CA. Perhaps you wonder why people would even do that and you can’t imagine the life situations people face that cause them to value a quick cash sale.
Well, here are 4 rational reasons you might consider a cash discount for a quicker and easier sale.
Most sellers love to get a cash offer, but why? Isn’t a mortgage technically the same amount once it’s all said and done?
These are good questions and worth exploring. So, let’s get into it.
- Cash does not need approval from a board of directors! This is a big one. A real cash buyer makes his or her own decisions, so there are no long drawn out bank bureaucracies ruining your sale.
- A cash sales does not need an appraisal. So what if your brother in-law hooked up your electrical panel upside down or your roof doesn’t meet the 5-year minimum requirements? The cash sale will still close!
- How much is your time worth? Everyone’s situation is different. Some people need to sell quickly because they are relocating or for personal reasons. Cash deals close FASTwith no holdups.
- Finally, let’s do some math. How much does your mortgage cost every day? What about taxes and insurance? If you add up your monthly interest payments plus taxes and insurance then divide it by 30, that is how much it costs you in real dollars every day until you close your house sale.
If your mortgage payment is $1,700 a month (PITI) and it takes 30 days to find a traditional mortgage buyer and then another 60-90 days to close (not to mention the risk it falls through), then that dollar amount is the discount you can equally give a cash buyer now and still come out with exactly the same amount at closing.
Example:
$1,700 a month X 3 months = $5,100 Cash Discount Now To Still Get The Same Amount At Closing
And that’s not even mentioning all the emotional benefits of simply selling your house now, as-is, especially if you are ready to go!
So, in conclusion, we see at least 4 extremely rational reasons why many sellers are happy to give a cash discount.
At WeBuy510Homes, we buy houses cash and close in 9 days or less!
Simply fill out our free, easy web form to get started now.
Act fast and get a $500 coupon to use on top of our purchase price!
P.S. Don’t remind us about the coupon until after we’ve negotiated our best offer, this is a true extra $500 in your pocket at closing.
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