Selling house for cash offers several benefits to both sellers and buyers. Obtaining cash offers can provide financial relief to property owners and expedite closing for buyers. Additionally, buyers can oftentimes reduce the asking price by presenting a cash offer for real estate.

The primary benefit of selling house for cash is closing can occur in a matter of days, instead of weeks or months. Sellers do not have to worry if the buyer will qualify for a mortgage loan. Qualifying for a home mortgage loan today is no easy feat. After the banking crisis, lenders tightened lending criteria which makes it difficult to qualify for bank financing unless credit scores are pristine.

Another benefit of selling house for cash is sellers can list their property as ‘for sale by owner’ and forego listing their property through a real estate agent. When property owners manage the sale they can eliminate the cost of realtor commissions. This alone can save sellers thousands of dollars. Savings can be used to reduce the asking price or as profit to the seller.

Selling real estate for cash is no different than selling to buyers who require bank financing. Sellers must record the sale by submitting property transfer records through the court. Legal documents and real estate title transfers should be prepared by a real estate lawyer.

Although housing reports show a slight increase in real estate sales, sellers are still up against stiff competition in the real estate market. Buyers have access to an abundant selection of discount priced foreclosure and bank owned properties. In order to compete with discounted properties, property owners who need to sell their house quickly may want to scout out real estate investors and buyers capable of purchasing real estate with cash.

A large percentage of real estate investors and investment groups prefer to buy houses with cash. In order to locate these potential buyers, property owners should participate in online real estate investor forums or join local real estate clubs. Networking with private investors can sometimes lead to quick sales.

Sellers who are facing foreclosure may qualify for real estate short sales if they can locate a qualified buyer. When banks enter into short sale agreements they allow borrowers to sell their home for less than is owed on the mortgage loan.

It is estimated that less than 20-percent of real estate short sale requests are granted approval. Those who receive approval must understand the process and abide by requirements set forth by their lender. Few people can undergo the process without assistance from a short sale specialist, real estate attorney, or realtor that specializes in short sales.

Prior to selling real estate to anyone, sellers must conduct due diligence to ensure they are working with a reputable buyer. This is particularly true when engaging in real estate short sales. Buyers should beware of anyone who claims to be a short sale specialist or individuals offering foreclosure assistance. Real estate is a hot commodity that attracts unscrupulous people who prey on desperate homeowners.

Prior to selling a home on your own it is best to conduct research to thoroughly understand the process. For most people, real estate is the most valuable asset owned. Those who are not careful can become a victim of real estate scams.

Author Bio: Simon Volkov is a California real estate investor who buys properties from homeowners who prefer selling house for cash. Individuals facing foreclosure, personal bankruptcy, or have obtained short sale approval can list their property for sale at www.SimonVolkov.com.

Category: Real Estate
Keywords: selling house for cash,real estate investors,for sale by owner,foreclosure, real estate short sale