You have likely seen signs posted along the side of the road saying that we buy houses for cash in Torrance, CA. Sometimes, ads like we buy houses in Torrance, CA, pop up while surfing the internet. So, what’s the deal? Are these offers legitimate, or are they a scam? There’s a popular saying amongst the Yoruba’s of African culture: In a bid to turn a blind eye to evil and wicked people, you will become oblivious about the good ones. In like manner, some of these offers may be scams, but some are legitimate. In fact, the legitimate ones can be a valid alternative option if you want to sell your house quickly in Torrance, CA.
Cash house buyers offer quick house sales in Torrance, CA, but at what cost? In exchange for the fast transaction, you may end up giving away about 20% of your equity. Nonetheless, you get what you want, and both parties leave the negotiation table with a big grin.
Cash buyers are investment companies, buying directly from sellers with no agent involved. Although some belief cash buyers prey on home sellers, I believe otherwise: cash buyers prevent home sellers from being preyed on. If you need to sell your house quickly in Torrance, CA, here are some things you should know about accepting cash offers.
Why Cash Offers Are Better
1. Confidence in the deal going through
One thing you can be sure of with cash buyers is that they always come through. Once interest has been confirmed from both parties, i.e., the seller is willing to sell to a ready cash buyer, be confident the transaction is done. Cash buyers either have the money, or they don’t, and once you confirm the proof of funds, you know you will be able to close. This is what distinguishes the scams from legitimate cash buyers. Much more, legitimate cash buyers have a proven track record of buying houses fast for cash have testimonials all over.
2. Faster process
Unlike in traditional sales, where you have to get a mortgage approval, cash buyers skip this entire process and thus offer you a faster transaction. You can move from having your house on the market to spending the money on another property in less than two weeks.
3. Fewer contingencies
If you want to sell your house quickly in Torrance, CA, you know you cannot afford to waste time on buyers requesting an appraisal, home inspection, and other contingencies. With cash buyers, this is not so. Why? We buy houses in Torrance, CA advertising companies have the option of buying your property as-is, that is in any condition. Once agreement can be reached, you are sure they will be less likely to request an appraisal, a home inspection, or other contingencies.
4. Simpler closing
I’ve had a couple of house sellers asking questions like, “I really want to sell my house fast in Torrance, CA, but what about the paperwork?” Cash buyers sometimes take it upon themselves to get a title and escrow company, even an experienced buyer’s agent (and possibly a real estate attorney) to ensure paperwork is complete and correct. All of this is made available still without a lender involved in the deal. What better way to sell your house fast in Torrance, CA, since there is less to review: you can just sign off and close the deal.
Why Cash Offers May Not Be The Best Option
Having discussed why cash offers are advantageous, you might assume cash buyers always win. But that’s not the case; there are a few variables you also have to consider;
1. What’s better for your timeline?
Undoubtedly, cash offers are the answer to I want to sell my home fast in Torrance, but if you’re trying to buy while selling, you might want a slower closing process. A speedy closing, in that case, will be disadvantageous, so compare the proposed closing dates and timelines among offers to see which works best for you, even though cash buyers are always willing to work at your pace.
2. How much money might you be leaving on the table?
Between 1980 to 2017, on average, sellers accepted cash offers that were 12% lower than financed offers. Even if you’re interested in a fast closing, are you willing to leave this much on the table?
3. What kind of buyers are you dealing with?
Remember, there are legitimate cash buyers, but even amongst them, first-time cash buyers are not easy to work with. Largely due to lack of experience, you might still have some contingencies. Unlike the inexperienced cash buyer, all of the “cash transactions are generally quicker and easier” points above are more likely to hold if you work with a proven cash buyer.
Choosing a cash buyer is not a question of how to sell your house fast Torrance, CA? It is a question of are you ready to work with one. We buy houses in Torrance, CA, and will give you the best offer for your property in next to no time.