Sell Your House For Cash Warning – Tip 25
If it’s your plan to sell your house for cash and you’re in financial difficulties please read on. Our warning applies to everyone who requires an immediate sale. There are many different types of firms out there offering cash for your house. However, not all will be able to supply immediate cash.
If your requirement for a cash sale has been brought about by difficult circumstances you will need to find a firm which has funds at its disposal. You see, due to the credit cruch there are many “agents” operating as cash buyers who may operate by trying to find you a buyer. Some will have access to genuine cash buyers, but most won’t. This means they will be dependent on mortgage finance and subject to the whim of the mortgage approval process.
Example. If your plan to sell your house for cash has been brought about because you have mortgage arrears then the stakes are pretty high. Mortgage repossession figures may be down, but the fact is that thousands of people still lose their home because they didn’t or were unable to find an alternative solution.
In the current climate your lender may give you time to find a buyer. But from their point of view the minute you confirm to them you have a cash buyer their expectation will go through the room. If you have to let them know your sale has fallen through or can’t be completed for a given deadline you could really be in trouble.
Therefore: if your circumstances require a cast iron commitment to sell for cash in days, ask prospective buyers to evidence their credentials. In other words ask for proof of their purchasing power. If your back is against the wall (and they will know this..) it’s your best insurance against the firm telling you later on they can’t find a buyer or have no cash.
If you really must sell your house please heed this warning.
Luckily there are still a number of genuine cash home buyers out there who will happily help you sell your house for cash.