A Guide to Selling a PA Home to a Cash Homebuyer
If you need to sell a Pennsylvania home and you need to do it as soon as legally possible, you might consider the option of selling your home to a cash home buyer.
A guaranteed cash-only sale can streamline the process of selling your home with fewer steps to walk through to get from offer to closing. Some homes sold for cash sell in as little as seven days.
What is a Cash Home Sale?
When you picture selling your home for cash you might have a picture in your head of receiving a giant briefcase full of greenbacks(money). The process however isn’t quite so literal. A cash home sale simply refers to the matter that the company or person buying the home does not need the assistance of a mortgage loan to purchase your home.
Cash sales are becoming more common lately. Recent numbers have shown that in some areas up to 30% of home sales are all-cash transactions. It is a tactic more homebuyers have used to help them push past the competition of other buyers in a market where inventory is low.
Reasons to Sell a Home for Cash – Selling a PA Home
As previously mentioned selling a home for cash allows the homeowner to sell their home in a shorter timeframe as compared to waiting for a buyer to secure a mortgage loan for a home. A mortgaged home purchase can take between 30 and 60 days to process and complete the sale.
No Mandatory Appraisal
There are several steps that a lender will require of a property to ensure they are making a safe investment in loaning money to a homebuyer. One of them is requiring an appraisal on the property to ensure that the buyer is not offering and they are not lending more than the home is currently worth. More than the fair market value.
An appraisal must be conducted by a licensed professional and must be a third party in the transaction. This means an appointment needs to be made to have the appraiser come to the property in person to assess the value. Once they do this then there is waiting for their official report to be written up and given out to all the parties in the home loan and the home sale.
Only one showing
Contacting a cash home buyer means that they will come and look at the property in person themselves and then quickly construct an offer on your home for an all-cash purchase. If you receive an offer from a cash buyer this means that you don’t have to go through the painstaking process of showing your home over and over and over again until hopefully, a buyer comes through with a solid and trustworthy offer.
No need to worry about getting your home ready
When selling to a cash buyer you will not be expected to make sure that your home is in pristine condition before contacting them and communicating your home is available. Cash homebuyers understand that they are purchasing a home as-is and expect a home to need a little bit of attention to get it back in peak condition. There’s no spending hundreds of dollars out-of-pocket to get your home ready to appeal to as many potential buyers as possible.
Making sure you have the right cash buyer
Not all companies offering to purchase your home for cash are reputable. It is best to make sure that you are aware of potential scams with this type of home purchase. You want to make sure that you do your homework on anyone you are working with and that you know what a fair offer for your home would be. It is always best to read everything in its entirety and it is wise to employ the help of a real estate professional to ensure you are making the best choice for you and that the contract is valid.
If you are thinking of selling your home in PA and need to sell it quickly contact us anytime. We are open and honest and will encourage you to look our offer over carefully without any pressure to accept the offer.
A Guide to Selling a PA Home to a Cash Homebuyer – contact us today 717-921-6890