Selling your house to a cash home buyer
Selling to a cash home buyer is a very different process to selling to a buyer getting bank financing. You might think that it doesn’t make a difference whether the cash comes from a loan or from someone’s pocket. In some ways you would be right, the cash is the same at the end, but the process to get to that sale is much different.
When you sell your house to a person getting bank financing then the sale is contingent on the bank financing getting approved. There are several things the bank will then look at before they approve the loan. Obviously the ability of the person to pay the loan is a major factor but they will also look at the property itself. The bank will order a professional inspection and the condition needs to meet their requirements. If it finds issues they will often ask for things to be repaired before they approve the loan. They will also get a valuation and need to make sure that the buyer isn’t paying over what the bank values the property. They need to protect themselves in case they have to foreclose on the property in the future. These inspections can take time to happen and at the end of the time they may reject the loan and leave you hanging.
When you sell your house to a cash buyer there is no contingency on getting financing approved. This makes the sales process much faster. Since there is no requirement for a professional inspection report and no criteria on the condition the property needs to be in. Selling our house for cash is generally the best approach if your house is old and in need of repairs. Most cash buyers are prepared to buy your house in As Is condition and take responsibility for the repairs. When you sell your house for cash you can generally have the house sold as soon the title is cleared. Depending on the parish and the title itself then could be as fast as a week.
If you are looking for a company that buys houses for cash in Louisiana then Home Buyer Louisiana could be a good option for you. We are New Orleans based investors who buy houses for cash all over Louisiana. Fill in our online form or give us a call to get a cash offer on your property.