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He adds that while flippers normally desire to refurbish their purchase and resell it as quickly as possible, the real time it requires to get a house prepared to list can differ. In the existing best-sellers' market, for instance, contractors and subcontractors are incredibly hectic, so it's taking two times as long to spruce up the typical home.

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ATTOM Data Solutions reports that in the first quarter of 2021, 32,526 houses and apartments were turned. Nationally, the variety of flipped homes bought with money was 59. 2%. Source: (Benjamin Voros/ Unsplash) Why would someone sell their house for cash? Speed, convenience, assurance, and financial inspirations top the list of factors a growing variety of sellers are relying on cash buyers, states Van Soest.

Certainty You're moving for a job and have to be there by a particular date. You 'd rather not deal with the danger of a low appraisal. You do not have the time to hire contractors and make significant repairs. You fidget accepting an offer with lots of contingencies. Speed and convenience You inherited a house you're not familiar with and maybe far from.

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You have a troublesome or occupied rental residential or commercial property. Finances You require cash for a down payment on your dream home. You do not have the funds to make essential repairs.  Sunrise Properties  on the verge of foreclosure. You require money to get out of debt. Take Northern California couple Sam and Cathy, * who were preparing to retire.

Reasons to Sell a House for Cash - Ben Buys Indy Houses

But after struggling to discover contractors to make repairs and updates, they decided to offer to a money purchaser instead and avoid the legwork. Figuring they 'd take a significant loss on cost, they were "shocked" when they received a near market-value offer and closed the sale in simply 20 days.

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Faster closing If your purchaser has to borrow money, they and you are on the lender's timeline, which is generally a minimum of 6 weeks. All-cash purchases close quickly due to the fact that lending institutions aren't part of the picture. What's more, a money buyer's offer will not depend upon your house appraising at a certain quantity.