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ATTOM Data Solutions reports that in the first quarter of 2021, 32,526 houses and condos were turned. Nationally, the number of flipped houses purchased with money was 59. 2%. Source: (Benjamin Voros/ Unsplash) Why would someone offer their home for cash? Speed, convenience, comfort, and financial motivations top the list of reasons a growing number of sellers are relying on cash purchasers, states Van Soest.

Certainty You're moving for a job and need to exist by a particular date. You 'd rather not handle the risk of a low appraisal.  Click Here For Additional Info  do not have the time to hire contractors and make significant repairs. You're worried accepting a deal with lots of contingencies. Speed and benefit You inherited a house you're not familiar with and perhaps far from.

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You have a problematic or occupied rental home. Finances You require cash for a down payment on your dream home. You don't have the funds to make essential repair work. You're on the edge of foreclosure. You require money to leave debt. Take Northern California couple Sam and Cathy, * who were preparing to retire.

However after struggling to discover specialists to make repairs and updates, they chose to sell to a cash buyer instead and skip the legwork. Figuring they 'd take a significant loss on rate, they were stunned when they got a near market-value offer and closed the sale in simply 20 days.

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Faster closing If your purchaser needs to borrow money, they and you are on the lending institution's timeline, which is typically a minimum of six weeks. All-cash purchases close quickly due to the fact that lending institutions aren't part of the photo. What's more, a money purchaser's deal will not hinge on your house assessing at a particular amount.

Flexible move-out Whether you wish to move next week or sit tight for a couple of months, a cash sale usually gives you a lot of wiggle space. Again, this returns to the steps you can avoid in a cash deal. "With cash, you get a great deal of flexibility on your closing date due to the fact that you're not waiting on a 3rd party to authorize things like a loan or appraisal," states Simpson.