Have you ever seen signs advertising a person or business that wants to buy people’s houses for cash? It’s something that may seem a little strange, given that most people sell homes through a real estate agent and have to buy them by taking out a mortgage. It may cause you to wonder why someone would sell their home to a cash buyer. As it turns out, there are a few possible reasons.
1. An Unwanted Inheritance
Homes are often passed on as a part of an inheritance in some way. Sometimes the house is sold and the money is divided amongst multiple heirs. Other times, the home goes to a single heir. Just because someone inherited a property doesn’t necessarily mean that it’s something that’s wanted though. Owning more than one house comes with its own set of challenges. In that case, selling the unwanted property to a cash buyer can be a good way to get rid of it quickly.
2. No Longer Able to Afford It
Unfortunately, some people find that they are no longer able to afford their home. Jobs can be lost, debts can accrue and become too much to handle, or income may change for some other reason. One way or another, the house is no longer affordable and needs to be sold. When being able to pay for the home becomes a problem, being able to sell quickly is crucial. That can make selling the home to a cash buyer a great solution, since one of the biggest selling points is how quickly the process goes when compared to how it goes if you take the more traditional home selling route.
Divorce can be another motivator that leads people to sell their home to a cash buyer. Assets are split during the divorce process, but you can’t exactly cut a house in two and expect things to work very well. Letting one person take sole possession of the home may not be an option either. Sometimes the best thing to do is to sell the property and divide up the proceeds. Selling to a cash buyer can help speed things along so both parties can get their share of the asset sooner rather than later.
The reasons why someone might sell their home to a cash buyer are many. Finding yourself with an unwanted property as a part of your inheritance, no longer being able to afford the house, or going through a divorce are just three of the reasons why people come to Joe Homebuyer to sell their home. We offer a quick sales process for those who just need to get out of their home. Really, it’s a win for everyone.
You have the why. Want the how? Learn about our home buying process today!