How To Find Cash Buyers
If you are in Tucson, chances are you have seen signs across town saying “We Buy Houses CASH!”. You might be wondering… “How long for cash buyer to buy a house?”. The answer to this question depends on a few factors! When you are selling a home in Tucson AZ, there are many options to selling your home.
If you are looking specifically for a cash buyer in Tucson AZ, then I am going to make a few assumptions about what you are trying to do. As a Licensed Realtor and Real Estate Broker in the State of Arizona who Invests, I have over 20 years of experience working with homeowners who have been trying to sell an unwanted home.
If you are looking for a fast sale, then you might have gone on the Internet and Googled “How long for a cash buyer to buy a house?” and been surprised by the amount of results that you received! After the ads, and the various posts, you will discover that “cash buyers” can be a little elusive!
What Does “Cash Buyer” Mean?
To the public, the term “Cash Buyer” means different things. To one person, cash buyer means literally cash on the barrelhead.. To another, a “cash buyer” would be someone who uses a private loan to buy unwanted homes.
The difference is critical. When a person is literally bringing cash to the transaction, they aren’t literally bringing a briefcase full of dollar bills! Instead, it is physical cash transferred from the purchaser’s personal accounts at the direction of the purchaser. The difference here is with respect to control over the funds.
In a Private Loan scenario, the Buyer is not bringing physical cash to the transaction, and there is another layer of decision over the control over the disbursement of funds.
This difference can be critical in a transaction. As it is extremely rare for someone to bring all cash to close a transaction, funds are usually transferred in a private loan. Because of this, the contract many times can be rife with “exit clauses” for your investor to leave you high and dry when the time comes to close.
How Long For Cash Buyer To Buy A House?
This largely depends on the way the contract is written. If the contract is written on a State Contract, there is a requirement to disclose how the investor is purchasing the home. If the Buyer is indeed using cash to close the transaction, then depending on your location, the closing can be as quick as 5-7 days.
The time it takes for a truly cash buyer to close your home can be limited only by the time it takes for Escrow to check the Title. Here at KarlBuysHouses, I can act as quickly as you need. I have the relationships with the local title companies to act quickly, and efficiently!
Typically, in my experience, most homeowners do not need to sell their home within 7-10 days. Most people are content with a 3-4 week closing date as they need to remove some personal items from the home.
Benefits Of Selling A Home For Cash
Chances are, if you don’t need the immediacy of a truly cash buyer in Tucson, a 3-4 week closing is fine for you. If that is the case, then an investor using a private loan is also a good route to choose. A truly all cash buyer will most likely pay far less for the necessity of an extremely fast sale (5-7 days) while a buyer with a Private Loan closing in 21-30 days will typically pay more.
In both cases, a person buying cash or with a private loan will avoid the biggest problem that homeowners with distressed properties face… the appraisal.
If your home is in good condition, and needs few repairs, then a cash offer isn’t likely to serve your interests. However, if your property is in need of repairs, and is in a distressed situation, then it is perfect for a cash buyer or private financing.
As there are no appraisal requirements or habitability standards that need to be met with a Private Loan or Cash buyer in Tucson then it does not matter what the condition of the home is.
The benefits of selling a home for cash means that you can sell it without a lot of hassle and showings. You can sell it, and close quickly without the hassle of having traditional inspections, appraisals, and hassles!