Selling your house fast for cash is sometimes the quickest resolution when there’s a need to move or sell a home quickly. For starters, there’s the convenience and speed of sell. Fewer sales fall through and you can have money in your pocket just days after accepting a cash offer. For a homeowner in some type of financial distress, this can be a life-changing benefit.
Combined with the benefit of avoiding costly repairs or real estate agent commissions, it’s no wonder more people than ever are typing “How to sell my house fast for cash” into Google search queries. In this blog post, Skye Homes – home buyers in the San Jose, CA area – outline some scenarios where selling a house fast for cash just makes more sense than going through a realtor.
Selling a House With Bad Tenants
While owning a rental property is a great source of additional income, it can be a nightmare if difficult tenants enter the equation. When a tenant makes a habit of missing rent payments, breaking rules, and mistreating or damaging the property, it can seem like a problem you can’t escape from.
This is why a growing number of landlords are opting to sell a house fast for cash in response to nuisance tenants. While you should seek legal advice first, selling a home with a bad tenant is sometimes the easiest way to wipe your hands clean of the problem and move on.
While you might get a slightly less than average offer, a cash home buyer is often willing to roll the dice. They generally have a means to cover the legal and administrative costs of evicting a difficult tenant in order to rehab the property and get a return on their investment.
Selling an Inherited House
When you inherit a home from your parents or grandparents, you have one of three choices. You could sell the house, move into it, or rent it out. If the home is in disrepair, or in dire need of costly updates, it may be something you just don’t want to deal with.
Sure, you can avoid making necessary updates, and still put it up for sale below market price, but you’d be required to pay legal costs and real estate agent fees.
This is why selling your house fast for cash might be more logical than needlessly dealing with the upkeep and paperwork of an inherited house. This fast sell ensures the home doesn’t sit uninhabited and vulnerable to vandalism or deterioration. Plus, it can be sold as-is, alleviating some headaches on your end. Selling to a cash home buyer minimizes out of pocket expenses and unloads the property sooner rather than later.
Financial difficulty is actually the number one reason most homeowners sell to a cash buyer. When the bills are racking up, you’ve fallen behind on your mortgage, and the bank is threatening to foreclose the house, there’s a sense of urgency to hit a reset button.
Most of the aforementioned “Sell my house fast for cash” internet searches can be attributed to homeowners suddenly finding themselves in over their heads. Perhaps they have costly home repairs they cannot afford or they just can’t get current on their mortgage. Selling their home to a cash buyer enables them to start over fast and hopefully regain their financial footing.
Selling a House During a Divorce
Going through a divorce is an emotionally trying time. Not only can it be a time of heartache, but also a time of animosity, anger, or resentment. The burden of selling a home during this process only complicates things. Not only is a house the biggest asset most couples acquire together, but it also holds sentimental value to one or both parties.
Additionally, one partner has likely moved out. They’re looking to cover their new living expenses while the mortgage, property taxes, and insurance all need to be paid as well. There’s a need for both parties to move quickly.
Selling your house while still married by law can save significant money when it comes to capital gains tax. Working with a cash home buyer is another way to save money. There’s no closing costs or realtor commissions, which means some of the transaction can be pocketed once the mortgage is paid off. Ending a divorce with some type of cash reserve is important considering the hefty legal fees involved.
A home can sit on the market for an average of 65 to 70 days. This prolongs the time a troubled couple must work together to agree on things like repairs, a contractor, a realtor, and listing price. Selling directly to a cash buyer gives you and your spouse a means to walk away from the house in as little as one week. Just make sure to discuss the process with your divorce attorney.
Selling a Home Due to Relocation
The need to relocate to another part of the country or even the world is another reason for someone to research how to “Sell my house fast for cash” online. Depending on the circumstances, someone may only have just one month to sell their home and move far away.
Looking to Sell Your House Fast For Cash in Bay Area? – Let’s Chat!
If you find yourself in any of these situations, Skye Homes helps you skip the stress of dealing with contractors and real estate agents by buying your house directly from you. Contact us today via our online form below or by calling/texting 510-220-0712.