Should you take a cash offer for your Atlanta house?
Traditional selling of real estate would have you believe that you have to deal with crappy bankers just to have your buyer fall through at the last minute, leaving you stranded with a moving truck, no utilities, and a second house payment. I’ll tell you how to sell any property for cash, some reasons to refuse a cash offer – and when you shouldn’t say no.
Selling My House For Cash In Atlanta
If you’re selling a property in Atlanta to an end buyer (the person living in the home), chances are good it won’t be bought with cash.
Most transactions close with a bank loan, because most buyers don’t have the funds.
This isn’t news. We’ve all been at the bank trying to get a loan, just to have them make us jump through hoops to get approval. It’s like they are making us beg. As a seller of a property, be aware that your buyer is dealing with this too when you’re selling the traditional way. There’s no guarantee that your buyer won’t go finance a big screen TV for their new home, get a new truck, open a credit card at Kohl’s, and any other way they could invariably flag their credit. This would cause the bank to back out of the loan, leaving you stranded with the house.
What happens when you have to list your house back on the market, pay two mortgages, and spend 5 more months trying to sell your house, just to finally sell it at a reduced price down the road.
Even most investors don’t close transactions with cash. It’s easy to let a bank share the risk, even if you have the money – most investors spread themselves too thin, leaving them at the whims of the banks to decide if they can make that purchase or not.
At Breyer Home Buyers we don’t spread ourselves too thin, because our primary goal is to build stable communities around Atlanta.
In most cases, we’ll pay cash for your Atlanta Georgia property. We don’t use banks in our transactions, so we can close in as little as 14 days on your property.
The Benefits Of An All Cash Sale Of Your House
Tops in the “pro” column of selling my house for cash in Atlanta are speed of sale and convenience. Once you accept a cash offer, you can often get your money in days. For folks facing a relocation, foreclosure or bankruptcy, this can be a life saver.
A cash sale also removes the all-too-familiar drill of accepting an offer only to lose the buyers at the last minute when they can’t qualify for a loan. Let’s be honest, prequalifications don’t mean you have a sure deal on the house you’re selling. Banks do little research on financials when they give a pre qualification. They don’t dig into someone’s financials deeply until the offer has been accepted. Once the cash is passed along, there’s no backing out or last-second cold feet. Such cash sales typically close in 1 to 3 weeks compared to about 4 to 7 weeks on a conventional sale. Also, cash sales are typically “as is,” so there’s usually no major repainting and repairs needed.
Cash is king in a real estate deal.. You’ll probably get a little less money out of the house, but you can avoid costly repairs and other complications.
The benefits of a cash sale are real:
- money fast
- when you need it most
You don’t have to deal with the hassles of waiting months for a buyer to get a mortgage, only to be told that the lender eliminated the program and you’re back to square one. This could lose you months in the process of selling your home when you really needed to sell your house fast in Atlanta, Georgia.
You don’t have to list your house with a real estate agent and pay a huge commission. Working with a Realtor can cost you tens of thousands at the end of selling your house. Working directly with Breyer Home Buyers allows you to put more money in your pocket by avoiding paying Realtor commissions.
You don’t have to deal with a lot of people just “kicking the tires” and checking out your property for fun. We don’t waste your time. This is our business. We are a reputable house buying company, and we buy houses every month that fit our criteria. Fill out the form below to see if your house fits our criteria so that we can send you a cash offer.
You don’t need to paint, make repairs, or even clean up. We take properties just as they are. You won’t waste money on junk haulers or contractors. We handle everything. We want your house in as is condition. Our goal is to improve as many houses in the community as possible. We’re serious about leaving all of your junk in your house and walking away.
You don’t need to deal with any paperwork. We have it all covered. You sign one small purchase agreement. That’s it! It’s not a binder full of forms like you have to deal with at the bank. We are transparent about the whole process, and we back it up with a three page contract.
Why Selling My House For Cash In Atlanta Is More Reliable
What happens at closing is the culmination of more than a month of gathering and preparing documents. For closing to go off without a glitch, your closing officer, your lender or loan officer and your real estate agent have to work together to get everything in order and processed correctly. These folks are professionals and they absolutely should know what they are doing. But they are also human beings working on a lot of files, not just yours.
If your closing gets pushed back a day, that just means they do it on Tuesday instead of Monday. It really isn’t an emergency in their world. You, however, have a moving truck scheduled and deadline to vacate your current home. Your loan commitment has an expiration date and so does your escrow. All of this means it’s more critical to you than it is to anyone else to get the deal completed on time, so it’s wise for you to stay on top of things.
Problem: Faulty Documents
One of the most common closing problems is an error in documents. It could be as simple as a misspelled name or transposed address number or as serious as an incorrect loan amount or missing pages. Either way, it could cause a delay of hours or even days.
Problem: Banks’ Annoying Requests
When you set a closing date and communicate that with your lender, you probably assume they will let you know in plenty of time if there are problems with meeting that deadline. You would be wrong. Understand that in a hot real estate buying or refinancing market, lenders can be inundated. Without periodic calls from you and your real estate agent, who also has a vested interest in closing the deal on time, your file could easily fall to the bottom of the pile while the loan officer deals with more urgent loans. By the time your loan is at the top of the priority list, it might be too late to get that missing document in time. Lenders sometimes ask for more information at the last minute – copies of a rental agreement, a canceled deposit check, the original hazard insurance payment – that can leave you scrambling and lead to closing delays.
My friend and his wife signed the contract and, 17 days later, they showed up at the closing table and received their check. Shawn made the process very simple. He gave them a fair cash offer (they were the only company that didn’t low ball them). – Nadar Atoui (Google Review)
Problem: Cash Flows Are A Trickle
You go to the bank the day before closing and arrange to have your down payment transferred directly to the closing agent. You’re good to go. Unless the transfer falls through due to some bug in the bank’s system and the money either doesn’t get there in time or what comes through is less than the amount you need.
Problem: Hiding Title Flaws
Maybe the title company discovers that the seller never paid the contractor for the backyard fence or hasn’t paid property taxes for five years and there is a lien on the property. Or perhaps the home is the subject of a lawsuit between bickering relatives. Interesting as that may be, the bottom line is that you, the buyer, have a problem. You need to insist on a clear, unclouded, problem-free title before closing. Your lender will insist on it, too.
Problem: Walkthroughs Gone Wrong
It’s the day before closing and you’re doing a final walk-through of what is almost your home. The seller has punched a hole in the wall and ripped down the fixtures they were supposed to leave. This will cause the bank to either pull out of the deal or have to go through the entire evaluation process again. The house will need to be repaired, inspected, and appraised again.
Home sales fall through for more reasons than just your buyer’s mortgage falling through. Find out more reasons why home sales fall through so that you know what to look out for when selling you’re not selling my house for cash in Atlanta.
Working With A Reputable Atlanta House Buyer / Investor
Always make sure that your cash buyer is reputable. At Breyer Home Buyers, we offer great references of past sellers we’ve helped, we can show you examples of some of the latest projects we’ve worked on, and we’ll be happy to answer any questions you have so you feel comfortable.
We pride ourselves on being a strong part of the Atlanta community. Our local mission is to help local Atlanta Georgia homeowners who need to sell your Atlanta house fast do it quickly, at a price fair to you, and to help improve the beauty of neighborhoods one house at a time.
If you’re wondering about selling your house for cash in Atlanta or just need to sell a property near Atlanta, we can help you.
We buy properties like yours from people who need to sell fast.