Everyone has heard the commercials and signs talking about cash for home sales. So what does cash for homes involve and is it a smart option for you?
History of cash for homes buyers
Cash for homes is not a new concept, infact before It wasn’t until 1934 that the Federal Housing Administration stepped in with an insurance program on mortgages. Investors buying home for cash is a relatively small operation, the NSR ( National Association of Realtors ) estimate only about 21% of residential sales are for cash.
Cash for home buyers like Gold Leaf Home Buyers are primarly real estate investment companies. Our goal is to buy properties that may need a cleanup, repairs or remodels then resell them.
Who sells their house for cash?
There are a lot of different types of scenerios you may want to sell your home for cash, most of these all have one thing in common which is the need to get an offer as fast as possible.
Damaged Property: In almost all cases selling a damaged property means getting the property up to code and paying for expensive repairs. Dealing with buyers and negotiating who will cover what costs can take months and depending on the amount of damage some banks may not approve a loan at all for the buyers.
Probate / Inherited Property: Probate / Inherited properties can be incredibly challenging to deal with. Debts to not disappear they must be paid before you inherit. Probate property is commonly used to pay off amounts owed. This makes the traditional sales process very challenging and cash offers very appealing.
Health / Finacial Issues: Sudden health issues can mean you may not have time or energy to find a realtor and wait 1-3 months to sell your property or deal with repairs/cleanup. Similarly so, a sudden financial loss can mean you need to liquidate the property as fast as possible. These situations make cash for home sales very convenient.
What are the benefits of selling for cash?
There are several benefits of selling a house for cash, the biggest benefit is a very quick sale of your house. Generally, cash for home offers take 2-3 days to complete and sales can be finalized within 7 days. When dealing with probate, health or financial issues getting your home sold as quickly as possible is essential. The second big benefit of a cash for home sale is the low effort involved, most cash for home buyers like Gold Leaf do not require any repairs or cleanup on the properties we purchase. This means we buy hoarder homes, homes with mold or houses not up to code. These houses would otherwise be next to impossible to sell without a large financial investment.
How to sell your house for cash?
Gold Leaf Home buyers can help Tampa Florida residents sell their homes for cash. We service several metro areas around Tampa, Florida. Our home buying process is meant to be as streamlined as possible, to get started go request a quote, once this is processed we will send a Gold Leaf Home Buyer representative to your house for an inspection. After this you will receive a no obligation cash offer on your home and can choose the date of your sale.