Have you heard the old saying “Cash is King?”
This is particularly applicable when it comes to the real estate and property markets.
Cash buyers are undoubtedly the main players here! But before we get into what to look for in a cash buyer, or how you can go about finding one, we will first look at what a cash buyer is exactly and what the benefits of selling your property to one can entail.
What Makes a Cash Buyer Different From Other Buyers?
A cash buyer, in the real estate market, is essentially an individual or an entity that has the funds available to immediately purchase a property. They are able to fund the transaction by using unencumbered funds.
This means that they don’t have to go through the arduous, and timely, processes of selling their other assets, or applying for a loan first before the sale can go through.
This alone is enough to make the cash buyer’s offer significantly more attractive than that of the traditional mortgaged buyer.
Who are these cash buyers you might ask?
There is a long list of potential buyers that you can expect a direct cash transaction from, but generally, it includes the very wealthy, fix and flippers, real estate developers, wholesalers and hedge funds, to only name a few.
What Other Benefits Can Cash Buyers Offer?
Other than the fact that cash buyers are able to make the transaction go through quicker and with fewer hassles, the additional costs of putting your home on the market can be avoided as well!
For example, having to list your home on an MLS (Multiple Listing Service) will require you to hire a listing agent. You will also need to carry the costs for certain repairs needed for staging, setting the house up for photos and showings, as well as pay commissions.
All of this requires a lot of investment, energy and time from the homeowner, which can conveniently be bypassed with a cash buyer.
A possible downside of a cash deal may include that the property’s selling price will need to go down a fraction because of the convenience it offers. But for most motivated sellers, the benefits by far outweigh this drawback.
So, How Can I Find Cash Buyers?
Searching for buyers online may be the easiest and quickest way. All you need to do is type into your Google search bar: “cash buyers for real estate near me.”
The first few result pages that pop up should be enough to show you who the active cash buyers are that you can go ahead and contact immediately!
Another good strategy is to go have a look at real estate-focused Facebook groups. Cash buyers tend to look for opportunities here too.
Of course, we at Reddtrow Properties are able to assist you as well! We buy homes ALL CASH!
Quick and easy, no matter the state of your property.
Whether in need of extensive repairs or even burned down to the ground, contact us to receive a cash offer for your property today!