In this uncertain situation, you cant really predict how much time will it take to sell your property. Everyone who wants to sell their house usually takes the help of a real estate agent.
However, that may take several months or sometimes even years to get a customer who has enough money to make a deal quickly. Besides, a homeowner also has to make lots of expenditure on repairing and painting, etc. to make his house look attractive to any customer.
Nowadays, there are quite a few dealers like House Today Cash Tomorrow who say that we buy houses for cash, so you can sell your house very fast to them, as they can make a cash offer and close the deal just within 7 days.
There can be many reasons for selling your house and you cannot afford to wait for that long and depend upon an estate agent. Some of the compelling reasons for selling your house can be:
- Bad structural report
- Buying your new dream home
- Divorce settlement
- Equity release
- Facing repossession
- Financial difficulties
- Need less space
- Need more space
- Problem neighbors
- Problem tenants
- Prolonged poor health
- Rising maintenance cost
Therefore, you can see that if you remain dependent on any real estate agent then it will be quite frustrating for you. Let us look at a few drawbacks of going to any real estate agent which has been traditionally followed by most of the people so far.
- Constant stress
- Estate agent fees
- Home information pack
- It may take around 3 to 12 months
- Legal fees
- Maintenance costs
- Mortgage payments
- Over-inflated price adjustment
- Possible bridging loans
- The chain at any point can collapse
- Valuation costs
On the other hand, if you prefer to take the help of any cash buyers then the following are a few plus points:
- Closing the deal as per the date that can suit you
- Guaranteed completion of the deal
- No cost for your home improvement
- No legal fees to be paid
- No maintenance costs
- No valuation costs
- Price may however be below market value but you can save a considerable amount as estate agent fee
- Sell within a week
- You can get your money very fast
Most buyers of the house have got now the luxury of having lots of time when they have ready cash in their hand after selling their property. They can choose exactly the kind of property they prefer to buy, particularly because of the current economic situation when the house prices are constantly falling.
Usually, such houses for cash buyers are always keen to pay only the lowest price that is possible. However, this is fine if you have to sell your real estate property fast and cannot wait until the next customer will take interest in your house.
In case, your next buyer wants to finance the house through any lender then you may have to wait for another few months. If he fails to get the approval of the lender then you are back to square one.