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Fast Cash Sale

How to Sell Your House Fast

The fastest way to sell a house is to sell it to a cash buyer. This is because cash buyers do not need to be qualified or approved for a loan, wait for inspections, or wait for loan documents to be drawn up, which can take 45 days or more. Cash buyers can make decisions quickly, and they can also take care of closing costs, back payments, liens, or taxes, or whatever it takes to get the deal closed.

A non-cash buyer typically requires 30-60 days or more to close on a property most of that time is spent waiting for the lender to approve everything. Additionally, lenders always require inspections, surveys, appraisals, and possibly even repairs that cash buyers do not require. A cash buyer can close virtually immediately.
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How It Works

Virtually 100% of cash buyers are investors who are buying the property so that it can eventually be resold. This "flipping" of the property means the cash buyer has certain overhead expenses that must be covered in the transaction.

For example, the cash buyer will have to pay the following expenses:
Closing costs on the purchase (~2% of sales price)
Commissions on the resale (~6% of sales price)
Closing costs on the resale (~3% of sales price)
Monthly carrying costs until the property is resold (~4-5% of sales price)
Necessary repairs/remodeling ($5K-$100K+)
Closing costs on the resale (~3% of sales price)
These costs typically total to ~15% or more of the resale value of the property, which means that cash buyers can only afford to buy the property at 60% to 70% of its full market value in order to make a modest profit of typically 15% (of the resale price).

When you see a sign saying “Sell your house fast for cash”, it means “I’ll pay you up to 70% of the property’s value, and do it fast”. For some people, such as sellers with lots of equity who need or want money quickly, this is a great deal. For others with little or no equity, this is not an option. For those with modest equity, or that want or need to make more money selling the property (and have the time to explore other options), this is probably not the best option.

We Buy Carolina Houses will buy your property for cash and offer you several other options. Contact Us if you would like to explore this further.

Fast Cash Sale Example

  • Current Appraised Property Value: $100,000
  • Existing loan(s) payoff: $45,000
  • Repairs needed: $5,000 (good condition)
  • Sales price: $65,000 (70% x $100K minus $5K)
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We’d love to hear more about your situation and how we can help. Email us directly at markgerson@webuycarolinahouses.com, and let’s discuss how we can find the best solution for you.
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Fast Cash Sale Advantages and Disadvantages

Advantages

  • Speed and no hassles
  • No closing costs, repairs, or banks to slow the process down
  • Property sells as-is
  • Close quickly, often in under 7 days

Disadvantages

  • Lower sales price (typically 60-70% of market value)
  • Offsets by no commissions and fast sale, which immediately relieves the seller of monthly mortgage payments.

This is the property-selling equivalent of winning the lottery and taking the lump sum cash payment upfront.

Common Questions About Fast Cash Sales

How quickly can I sell a property?

In as little as 2-3 days. Typically, it takes 1 week. Selling fast can be as little as 1 day in cases where the property is scheduled for foreclosure. It can take longer if there are title (ownership) issues.

Yes, unless one party has a divorce decree or other agreement allowing them to sell the property unilaterally.

Everything is negotiable…..

However, We Buy Carolina Houses, like all other cash buyers, is not going to pay more for the property than what they can afford – in other words for more than we could buy, renovate, and resell it for with a reasonable profit to cover risks and expenses.

We Buy Carolina Houses uses standard Real Estate contracts, closes with title companies, and/or real estate attorneys, and adheres to the highest ethical standards when conducting real estate transactions. If you want to do something illegal – don’t bother to call. If you want to sell house fast for a fair price contact us here.