It’s no secret!
News reports verify that interest rates are going up, and consequently, home prices are falling.
And “days on market” are increasing! This simply means it will be more difficult to sell your house now than what it was a few months, and most likely at a lower price!
This puts the “All Cash Buyer” in the driver’s seat when it comes to negotiating the sales price.
While nearly everyone prefers to find that “All-Cash-Buyer” now, consider the not-so-hidden cost of using this age-old method of selling your house to a bank qualified buyer. Run your own numbers, and add them up.
1. 6% commission if you list with an agent.
2. Mortgage/brokerage fees. (Were talking several thousand dollars!)
3. Appraisal fees (bank required).
4. Bank mandated repairs for loan approval.
5. Agent request for improvements before listing the house.
6. Holding costs:
a. It typically takes weeks, sometimes months, to find your buyer.
b. It typically takes six weeks for that buyer to get loan approval. And that approval could be cancelled after a month or more of waisted time.
c. During all this time, your insurance and property taxes are accruing.
d. You continue to be making those mortgage payments.
7. Then there is the endless phone calls and parade of would-be-buyers tramping through your home.
Now add this all up, using your numbers. Compare it to our offer of “full price”, close quickly, and we pay closing costs!. All you have to do is be flexible on how much time you can give us to cash you out via a bank approved loan at a future date.
Call it: “Delayed Cash Funding”
INTEREST RATES ARE GOING UP, PROPERTY VALUES ARE GOING DOWN. SO DAYS ON MARKET ARE GOING UP, AND THE BUYER POOL IS SHRINKING DUE TO DIFFICULTY IN QUALIFYING FOR A LOAN.
WE OFFER A SOLUTION FOR A QUICK SALE!