Planning a relocation that involves both selling a home and buying a home is complicated. Considering how long it can take to sell homes today, this could create problems for those needing to quickly find home buyers. If there is a job at stake, that adds even more pressure to selling currently-owned property, not to mention what about the money needed to buy a new home? When these two very different property transactions happen at the same time – that is great! But that seldom happens. There is a good solution to this dilemma – a cash home sale.
Home Sale and Relocation Problems
When a homeowner relocates, the need to sell one house and buy another house is a very confusing and challenging situation. A home buyer must be found as quickly as possible in order for the homeowner to purchase a home, often within a very narrow time frame.
With the current status of the real estate market, homeowners many times end up in the undesirable position of needing to buy a new house while still looking to sell their old house. This creates two difficult scenarios: not being able to qualify for a new home or having two mortgages because buying another home was concluded before selling the existing home, leaving the homeowner with two mortgages to pay. This can be devastating to most family budgets! Extended hotel stays or property rentals are always an option; however, that is costly as well, especially when storage costs for a family’s belongings are included.
Cash Home Sales Facilitate Relocation
The ability to sell a home fast dramatically facilitates the whole relocation process. By taking care of the home sale problem at one end, it enables a family to concentrate on the more important job of buying a home in their new location. It also enables them to pay off any existing loans in order to obtain a new mortgage on a new home. The situation changes from a difficult one that costs owners time, money, and frustration to a positive one with an end result of a much smoother move.
Cash Home Sales Save Money
Contrary to some beliefs, the cash sale of an owner’s home can actually be more financially advantageous when facing a relocation situation. While it is true that cash home buying may bring a lower than market value price, when all the other expenses involved with a traditional home sale during a relocation are added, sellers stand to retain more money through a quick cash sale. If a seller only has a fixed amount of time to sell without having to face carrying two mortgages and pay typical closing costs on top of that, sellers stand to lose money, not make any.
A fast cash sale – even at a slightly reduced price – allow homeowners to pay off an existing mortgage and take care of the rest of a relocation move with no closing costs and even fewer time delays – and this will definitely save money any way you look at it.
The important point is that anyone who is facing a job relocation and the possibility of needing to sell a house and buy a house in a short period of time stands to benefit from working with real estate investors who pay cash for houses in a short period of time. Getting one burden out of the way makes it easier to handle the second urgent need. It gives relocating homeowners the best chance to come out ahead – and with as few headaches as possible!