Is A Cash Buyer A Good Fit For My Home?

Introduction

A cash offer for your home from Light Box Invests is very desireable due to the convenience, speed and certainty of closing, but is a cash buyer a good fit for every real estate deal? Yes and no! Read on to find out if your situation is a good fit for a cash buyer like Light Box Invests.

The Power of A Cash Offer

A cash offer is very attractive to many types of homeowners due to many factors:

• QUICK CLOSE: A cash offer can close as fast as title clears, or whenever the seller wishes. This offers maximum flexibility sellers can use to, say, wait for a tenant to move out, obtain a leave-to-sell order from a probate judge, or move out themselves at a comfortable pace.
• NO FINANCING CONTINGENCY: The buyer doesn’t have to get approval from a lender in order to close the transaction. This greatly simplifies a transaction, while also increasing the certainty of a closing.
• NO REPAIRS OR CLEANOUT: A seller won’t have to repair anything or clean out the home prior to closing, greatly reducing their stress levels when dealing with a house in need of major repairs, system updates or trash-outs.
• NO COMMISSIONS: Most cash buyers are savvy enough to purchase real estate without the need of a real estate agent, saving both parties tens of thousands of dollars.
• AS-IS PURCHASE: An as-is purchase saves a seller from having to disclose anything about the house, relieving them of liability for hazerdous conditions or expired permits and stop-work-orders.
• NO CLOSING COSTS: The buyer covers all transaction closing costs in most instances. All a seller has to do is show up and sign to receive their cash and be rid of their unwanted property.

For the reasons listed above, every seller will look at a serious cash offer. However, there are trade-offs every seller needs to understand in order to propertly negotiate with a cash buyer.

What’s The Catch?

Most cash buyers are investors who need equity in exchange for the speed and convenience of a cash offer. This is how an investor makes money on the transaction: Thru improving the property after the purchase to either sell it or rent it out.

A much smaller contingent of cash buyers are wealthy people who seek to customize a home to their liking and then refinance out their cash. Because they are purchasing the property with their own money for their own use, they usually include contingencies and long due-diligence periods in their contracts.

Whether dealing with an investor or cash-heavy homeowner, you can expect a much lower offer for your property because they require the financial incentive to risk their capital in the property.

How Much Is Convenience Worth?

But who wants a low offer for their property? Plenty of sellers accept less for their property. It all comes down to two things: Time and Situation.

It should come as no surprise to anyone that the best way to get the most money for your property is by listing it on the MLS with a licensed real estate brokerage. Even homes in need of major repairs will almost always win higher offers from retail buyers than from investors. But it takes time.

If you have the time to sit and wait, then you have the opportunity to get more money for your property. We tell people this every day, because it’s true.

Realize though that there is a correlation between the amount of investment required to update a home and the amount of time it takes to sell on the retail market. Naturally, homes in need of major repairs to systems like the HVAC, plumbing, electrical, roof and foundation are going to draw a very small portion of the buyer pool that have the means to A) buy the property, and B) make the repairs.

The more investment in repairs and updates that your home needs, the less likely it’s going to sell fast on the retail market, no matter who your agent is, and you might have to go through a handful of buyers before finding one who can close, if you find one at all. That’s not convenient at all.

Sometimes money isn’t the highest priority for a home seller. There are many situations where the convenience of cash offer is worth the tradeoff in terms of sales price. Let’s look at a few.

You Need Flexibility

You live in the home you are selling and you simply don’t want to deal with dozens of strangers walking through it. A cash offer gives you peace of mind knowing there is just one walk-through and one offer.

Or you want to plow the proceeds from the sale of your current home into the next one but want to take your time picking your next home. A cash buyer will close whenever you find that home and need those proceeds quickly.

You have a family member living in a rental who needs help moving their stuff in order to vacate. A cash buyer could pay for the mover and dumpster so your family member can pack in peace.

You have a property you’re tire of renting but still need to perceive income from it. A cash buyer could purchase the home owner-financed and send you monthly payments hassle-free.

You inherited a home in Georgia but don’t live in Georgia, making cleanout and listing difficult. A quality cash buyer could make you an offer in less than 24 hours that takes the problem property off of your hands.

You are a real estate agent with a contract to list a property in need of major work and you don’t want to have to deal with the hassle. A cash buyer could purchase that property quickly and make yours and your seller’s life so much easier.

You Need Speed

You are facing imminent foreclosure on your home and need to preserve your credit. A cash buyer could catch you up on arrears so you have the time and breathing room to move out.

You are an executor on an estate who needs to sell fast to satisfy impatient heirs and creditors. A cash buyer could close in two weeks and solve all of your problems in one closing.

Your job got relocated and you have to move before your house could possibly sell. A cash buyer could buy the house fast so you have the cash to invest in your next home.

You are a wholesaler with the clock running out on a contract to buy a property. A cash buyer could take that contract off of your hands for a neat profit.

You Need Help

You inherited a home with multiple mechanics and tax liens that need to be cleared in order to close the sale. A cash buyer could help locate those lien-holders and negotiate payoff in addition to closing on the property after title has cleared.

You purchased a tax lien but don’t have the money or know-how necessary to take possession of the property so you can sell it. A quality cash buyer would be willing to invest pre-closing in the legal actions necessary to clear title.

You have a family member living in the home that needs to be placed in an assisted living facility, but you need the cash to move them out. A quality cash buyer could buy the property owner-financed, bringing you the cash you need at closing while paying you a healthy interest rate on the balance while they renovate the home.

Your divorce decree mandates a large sum of money to be paid out to your ex-spouse, and you need to liquidate a property in order to satisfy the decree. A quality cash buyer will stand by your side during the proceedings and help close on that property so you can get on with your life.

You’re in bankruptcy protection and need to liquidate some property to satisfy your creditors. A quality cash buyer can help you accelerate the process so you can move forward with your life.

A Quality Cash Home Buyer In Georgia

If any of the above sounds like something you’re facing, then a quality cash home buyer may be a good fit for you. Sometimes money isn’t the only

At Light Box Invests, we have helped owners in all of the situations listed above, as we have the ample cash reserves, renovation knowledge and experience on dozens and dozens of deals closed in Georgia to know how best to address YOUR specific situation.

We’ve been in business since 2015 and we operate according to a set of values that emphasize our place in the Atlanta real estate market. We offer convenience, flexibility, expertise & speed in exchange for the equity we need to invest in the real estate that we buy.

There’s no harm in asking if a cash offer from Light Box Invests is right for you. Fill out our contact form and we’ll get in touch to discuss your needs and real estate goals. No matter what, you’ll come away with a better understanding of where your property stands in the marketplace.

Sell Your Home Fast With Light Box Invests

We buy houses in Atlanta Georgia for a cash offer. Our process of buying a house in Atlanta is simple and proceeds within 24 hours. We are not traditional agents; we buy house Georgia directly from the sellers. Contact us today to learn more!