I didn’t want to worry about making repairs prior to listing.
While driving around Jacksonville, FL, I noticed advertisements from companies offering to buy homes for currency, and at that time, I was strongly considering selling my home; I had never considered an alternative to the conventional process of listing via a realtor. I wasn’t sure what to expect, and despite offering a “currency sale,” I doubted I was going to earn a briefcase full of money. With a bit of research, I learned that currency shoppers make an offer to purchase the house outright, then there is no dealing with a mortgage. The supplier has sufficient funds to cover the full purchase price, which expedites the closing… Once the seller agrees to the offer, the currency client transfers the money with particularly little complication. I still wasn’t sure that selling my house for currency was the right option for me. I found that there are more than 2 benefits to this alternative. The main advantage is simplicity. Because there is no financing, the delays and aggravations of the underwriting process are eliminated. There is no wondering whether or not the client will get approved, and cash shoppers also reduce the closing costs, however no lender means no lender-related expenses for credit checks, loan origination and application. A realtor isn’t walking away with a percentage of the sale price. Cash offers are far less likely to fall through, rather than relying on a loan to cover the purchase, the currency client has the entire amount upfront. There is no problem over the application being denied. Another perk is the quicker turnaround. Removing the lenders from the transaction expedites the timeline. There is no need to wait for an appraisal or a home inspection. Cash shoppers buy homes in as-is conditions. This appealed to me. I didn’t want to worry about making repairs prior to listing. I was suspicious that the roof on my house wouldn’t pass inspection. I was upset that the electrical panel wouldn’t comply with today’s building codes. Those are two major investments.