Some homeowners in places like Sault Ste. Marie, Ontario need to sell their homes quickly for a variety of different reasons. One of the options that have a fast turnaround time is cash home buyers.
What is a Cash House Buyer?
Cash house buyers work all across Ontario. Ones in locations like Blind River, Elliot Lake and Wawa have the money on hand to buy your house for cash. There are fewer fees and homeowners can negotiate for a flexible closing date.
The entire process is fast and user-friendly. Best of all it applies to a variety of different types of properties. You can sell a home fast. The same works for people looking to sell a cottage or sell a condo fast.
What Happens When a Cash Buyer Buys Your House?
These cash offers are fairly straightforward. Remember, there’s no real estate agent involved. The first step is a buyer comes to the property for an inspection. This usually takes an hour or two to complete. These inspections will take pictures of all the different rooms that include the bathrooms, kitchens, basement as well as outdoor areas and the roof. There are some other common areas a home inspection for a cottage or condo will cover. These include:
- The Attic and Insulation. A cash house buyer in Ontario will look to make sure that the attic is structurally sound. They also want to make sure that any insulation is laid out correctly and doesn’t pose any kind of health risk.
- The Central Air and Heating Systems. The age and working condition of both of these will be taken into consideration. It’s also important to make sure neither poses any fire risk of any kind.
- The Electrical and Plumbing Systems. Making sure that all the wiring is up to code is important. With plumbing, it’s important to make sure everything drains properly and brings water to the different faucets.
- The Foundation. Any leaks and cracks need to be documented. It’s also important to make sure the foundation of the home is stable and resting properly on the soil.
A cash house buyer comes up with a fair price by looking at the selling prices for similar homes in the same area. Several different criteria are used including online property websites, real estate agent evaluations and government property databases. The seller is usually presented with an offer on their house within 24 hours after the inspection is finished.
Buying The Property AS IS
As you can see by now, there are several differences in using this method over more traditional home selling techniques. For example, cash buyers buy properties AS IS and they take over any of the contents that are left. Arrangements can be made to pick up the contents later or the buyer can look after them.
In these types of sales, cash buyers in Sault Ste. Marie, Ontario are responsible for cleaning the house and any adjacent or adjoining buildings. They are also responsible for removing the contents. Remember, there’s no need for the homeowner to do any repairs or upgrades.
A Fast Offer
After that initial home inspection, a cash buyer presents a seller with an offer. This usually happens within 24 hours after the inspection is completed and it includes any conditions or special terms requested.
This process means the deal can close quickly. It’s a great way to sell a cottage fast. There is no need to wait for approval on a bank loan or mortgage. Homeowners can get paid within days or weeks. These types of flexible closing dates are another big advantage.
A Flexible Closing Date
Cash house buyers can often close the entire deal in as little as seven days. These purchases don’t depend on appraised values, home inspections or approved financing.
These are just some of the reasons why a fast cash sale is attractive. There are other reasons why homeowners in Sault Ste. Marie, Ontario favour a cash-only sale when they want to sell a home fast.
Why Do Sellers Ask for Cash Only?
Selling a house using the traditional method isn’t always the best option. A cash house buyer can buy your property with a firm offer. That’s quite often the best solution for homeowners facing issues like:
- Eviction because the mortgage hasn’t been paid. A power of sale or foreclosure means a current homeowner needs to give the property up. With the former, a lender can sell the property. With the latter, the lending institution can take ownership of the title.
- Overwhelming repair costs are another reason some homeowners feel the need to sell quickly. According to one study, foundation repairs can set a homeowner back $4,500 on average.
Separation and divorce proceedings are another reason a cash-only quick sale is preferable. Regardless of the reason, finding a legitimate cash house buyer in Ontario is easier when you have a framework to draw on.
How to Find a Legitimate Cash Buyer in Ontario?
Homebuyers in Sault Ste. Marie, Ontario looking for a quick cash sale to sell a condo fast want to find legitimate companies to help them out. One of the most obvious places to start searching is online via Google. It is important to assess the trust signals present on the website to ensure that the company can properly meet your needs.
Client testimonials are a great way to determine how credible a company is. Pictures of the people who write them and their full names make them more legitimate. Finally, it’s a good idea to make sure any cash house buyers in Sault Ste. Marie, Ontario are transparent.
They should mention somewhere on their website they have the funds available to close your deal. Take a look to make sure there is good contact information that includes a phone number and an email address too. A cash sale can be the right hassle-free option to get money for your home quickly.
Mortgage Broker Store is one company that meets all of these mentioned criteria. They have been investing in Ontario properties as both cash buyers and private lenders for over a decade.
Mortgage Broker Store is a cash home buyer that works all across Ontario including towns in and around Sault Ste. Marie. If you are thinking about selling your house at a fair price that’s around market value call 416-499-2122 or email mron@mortgagebrokerstore.com.