The 5 Scenarios When Selling Your House For Cash Makes Sense

If you have seen the "we buy houses for cash" signs hanging on telephone poles around your town and have been wondering about this type of non-traditional home sale, then it's important to note the signs are hung by a special type of real estate investors. These investors purchase homes for below market value and then fix them up to either sell them or rent them out.

While it is not always necessary or appropriate to sell your home for cash to an investor, there are five scenarios when it absolutely makes sense, including:

Scenario #1: When You Need to Sell Your House in a Hurry

There are many times when you need to sell your home in a hurry because you don't have the time to wait for the traditional sales process to complete.

For example:

  • When you have already purchased your next home

  • When you need to quickly move away for employment

  • If you become ill and need quick cash

In these scenarios, it often makes sense to sell to an investor so you can get out from underneath the property you no longer want.

Scenario #2: Financial Reasons Necessitate a Fast Sale

If you are having serious financial problems such as an impending foreclosure due to a recent job loss, then selling your home will allow you to right your financial ship without further damaging your credit rating or having to pay the expensive fees associated with a foreclosure.

Scenario #3: You Inherited an Unwanted Home in Another State

If you inherited an unwanted home located in a distant state and would prefer to exchange it for cash, then selling to an investor is a simple and way to do so without any costs or delays.

Scenario #4: Your Property's Location Has Few Buyers

If your property is located in an area without many buyers, then selling to an investor for cash will guarantee a quick sale. Some examples are if your property borders a freeway, if it is in a very rural area, or if your neighbors have set up a junkyard next door making your home undesirable to buyers.

Scenario #5: Your Home is Too Damaged for You to Repair

Finally, if your home is too damaged for you to repair because you don't have enough capital or the right skills, then selling to an investor for cash allows you to get out from under it and move on with your life. This is ideal for uninsured homes damaged in storms and hoarding situations.

Contact a real estate service for more help.