Pros and Cons of a Cash Buyer Buying Your House Directly
Many home sellers are aware of what real estate agents do and have either had past experiences or have formed opinions about the services they offer to sellers. Conversely, some sellers may not be sure of what to expect when working with a professional home buyer in Baltimore, Maryland. selling your house to a direct buyer in Baltimore has its advantages and disadvantages, which are listed below.
Pro – Uncomplicated Closings
In Baltimore, Maryland, buyers who purchase homes directly typically close faster than traditional home buyers, and usually pay for the homes in full with cash. Qualifying for a traditional home purchase usually requires approval from a bank, which can take some time to process. The potential buyer may also need to have the property inspected before moving forward with the purchase, and they may not end up qualifying for the loan in the end.
Con – Lower Than Retail Offers
Some of the main grievances that Baltimore home-sellers have about working with direct buyers is that their offers are often below the market value. However, this is understandable as the buyer is taking on a considerable risk by buying the house in its current condition – which may be worse than what the seller is aware of. Furthermore, the seller won’t have to spend any money on commissions or holding costs.
Pro – Buy Properties in Any Condition
Buyers in Maryland who purchase homes directly will usually do so without worrying about any additional repairs or expenses. Some companies do not require inspections, making the transaction final.
Pro – More Likely to Close
When you sell your home to a professional buyer, the process is very straightforward. The company will go over the process with you step-by-step and usually have straightforward contracts that are easy to understand as-is purchase agreements. You will also have less legal risk. The buyer is unlikely to find any undisclosed negative aspects of the home or neighborhood.
Pro – Skip the Numerous Showings
Pro – Move When it is Most Convenient
Many home buyers are looking for properties as investments, rather than places to live. This means that they may not need or want to move in on the day of closing. Most buyers are willing to give you some time after closing to move out at your own convenience. This is extremely helpful, as the closing process can be very quick. Additionally, you may not have to clean the house before you leave; you can simply pack your belongings and furniture you want to keep and leave the rest.
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