A cash buyer is the type of a real estate buyer who pays for a property outright without having to go through any financial process from a lender. They have all the money they need to pay for a property and won’t be looking for a loan from a bank or any other money-lending institution. There are a few advantages associated with selling our home to a cash buyer and one of them is that you get your cash fast. The process of selling to a cash buyer is usually straight forward and doesn’t involve a lot of processes that are often involved in other types of sales.
Cash buyers come in different forms and they are not all equal. That is why you need to know the various cash buyers and then decide on which one to go with. In this article, I will be discussing some of the most common cash buyers that you need to know of so that you when the time comes, you can choose right.
House flippers
The first type of cash buyers you should know about are house flippers. These are the type of buyers who buy home in poorer conditions with the intention of renovating them and then selling them off at a higher price down the road. Thus they make money by selling the property at a price that is higher than the buying price and the cost of renovation.
House flippers are pretty common and you can easily find a TV show named “fix and flip.” The one thing you can expect from these types of buyers is that they offer very low buying prices for the properties they buy because the purchase is motivated solely by making profit.
Investors
The second type of cash buyers are investors. If you have been keen with the news lately, you must have noticed that property prices have been rising a lot in the last few years. It is expected that the rise in property values will continue rising in the foreseeable future. As that continues to happen, investors are taking advantage of the situation by buying properties and then renting them out for the passive income that comes from them. They buy these homes at a lower rate and then rent them out so that within a few years, the rent accumulated is substantial.
Every rich person out there will tell you that income from their rental properties is part of their portfolio. Selling to investors is better than selling to house flippers because the former offer better payments. You will get more for your house when you sell to an investor than when you sell to a flipper.
Buyers
This is another group of cash buyers that you have to deal with if you are selling your home to a cash buyer. House flippers and buyers are the same with the main difference being that the latter rely heavily on technology to make their sales. Buyers usually offer sellers up to 98% of fair market value, but they also make buyers to pay for any repairs that may be required.
If you type “Sell Your House Fast Dallas” in Google, you will find so many search results showing you different cash buyers to choose from.