Due to a housing recovery categorized by low inventory and high buyer demand, home sellers nationwide are in the driver's seat and looking to find the best offer on their home. If you're now in the real estate market on the Crystal Coast, it's important to know that the offer desired by each seller varies. Some sellers are looking for the most money for their property which may come from a traditional lender, but others are looking for the easy, successful sale— the cash offer.
Cash offers are becoming more prevalent in real estate across the country as more homebuyers are forced to compete with multiple offers. But what's the big deal about purchasing a Crystal Coast home with your hard-earned dollars? Many benefits come with cutting lenders out of the equation.
Price Reductions
At times, homebuyers can catch the seller's attention with a cash offer and may often purchase the home for less than asking price. Those who intend to purchase with cash often qualify for a price discount because of the certainty of the sale.
Quicker Closing
Because there is no lender in the mix to slow down the sale, cash offers cut waiting time and the drama that can arise from financing troubles.
No Credit Check
With lenders, they are required to peruse your credit history, savings, and other accounts. An all-cash buyer does not have the hassle of banks searching every transaction and finding flaws or problems.
Avoid Closing Costs
Simply closing on your North Carolina home can cost you more than expected, with fees just for filing the mortgage application. All of these fees can add up— but you can avoid the completely with an all-cash offer.
Gena Gilbert
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