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ATTOM Data Solutions reports that in the very first quarter of 2021, 32,526 homes and apartments were flipped. Nationally, the number of flipped homes acquired with cash was 59. 2%. Source: (Benjamin Voros/ Unsplash) Why would someone sell their home for cash? Speed, benefit, comfort, and monetary motivations top the list of factors a growing number of sellers are relying on cash buyers, says Van Soest.

Certainty You're moving for a task and need to exist by a particular date.  Check Here For More  'd rather not handle the danger of a low appraisal. You don't have the time to work with contractors and make significant repairs. You fidget accepting a deal with lots of contingencies. Speed and convenience You acquired a house you're unfamiliar with and perhaps far from.

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You have a troublesome or occupied rental property. Finances You need cash for a down payment on your dream house. You do not have the funds to make required repairs. You're on the verge of foreclosure. You require money to leave debt. Take Northern California couple Sam and Cathy, * who were preparing to retire.

But after struggling to discover contractors to make repairs and updates, they chose to sell to a cash purchaser rather and avoid the legwork. Figuring they 'd take a significant loss on price, they were surprised when they received a near market-value deal and closed the sale in just 20 days.

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Faster closing If your purchaser needs to borrow cash, they and you are on the loan provider's timeline, which is frequently a minimum of 6 weeks. All-cash purchases close rapidly since lenders aren't part of the image. What's more, a cash buyer's offer will not depend upon your house appraising at a certain quantity.

Versatile move-out Whether you wish to move next week or remain put for a couple of months, a money sale generally provides you lots of wiggle space. Again, this returns to the steps you can avoid in a money offer. "With money, you get a great deal of flexibility on your closing date because you're not waiting on a 3rd party to approve things like a loan or appraisal," states Simpson.