There are several reasons why you might need to sell a home quickly. You may have inherited property or you might be out of state. If you have a tax lien on the property or if you’re avoiding foreclosure on Long Island, you probably want to get your hands on the proceeds of the real estate transaction as quickly as possible.
One way to speed up a sale is to sell the home for cash. If the buyer is willing to make a cash offer it can cut through a lot of steps. But many buyers don’t know the ins and outs of a cash offer. You may not know what a cash offer is, whether they’re negotiable and how they work. Long Island Cash Home Buyer knows all about cash sales because it’s how we do business. We’d like to share information about cash offers so you can see their benefits and decide if they’re right for you.
What is a Cash Sale?
A cash sale is simply a transfer of real estate that happens without any type of financing or mortgages, according to Investopedia. The buyer is required to produce the entire purchase price at the time of closing. Cash sales have become increasingly prevalent. They make up 38 percent of home sales in the U.S., according to the website Realty Trac, which follows cash transactions.
Cash sales speed up the transaction because you don’t have wait for a mortgage approval, nor an appraisal. You may not have to list the home or set up things like open houses. Many buyers who offer cash are real estate investors.
Everything is Negotiable
Which leads to the question over whether or not cash offers are negotiable. The answer is simple: Everything in real estate is negotiable. As a seller, if you’re offered cash for a home, you have three options: accept the offer, decline the offer, or make a counteroffer. If you make a counteroffer, you can begin to bargain.
While negotiations are very common, some cash buyers do feel that a cash purchase offer should afford them certain concessions from the seller, according to the New York Times. Sometimes the seller will give in to the buyer on issues they raise because of the benefits a cash offer provides, but they are not required to do so.
Lots of sellers hold firm when faced with stubborn buyers. “I’m pounding my chest: I’m all cash,” Steven D. Sladkus, a real estate lawyer, said of these buyers in the Times article. “Well, the response now is: ‘So what? I’ve got four other people in line for this apartment.’”
Of course, you can negotiate with a cash offer, but remember, the potential buyer has the same 3 options: accept, decline or counter again. The transaction needs to work for BOTH parties. And, if the buyer feels that the seller is difficult to work with, they may just walk.
Long Island Cash Home Buyer: The Place to Go for Fair Cash Offers
There are several factors that will determine the cash value of a piece of property, including the condition of the property, any repairs that might be needed and how long it will take to make these repairs. The amount of money you have left to pay on your mortgage will also play into the property’s value. All of these things are potential negotiating points when selling your home in a cash sale. It’s also very important that you read the contract before entering any deal. Some cash buyers will try to make you keep paying your mortgage for a period of time.
Long Island Cash Home Buyer knows that if you’re looking to sell a home for cash, that you’re often looking to save time and sell quickly. But that doesn’t mean you shouldn’t sell at a fair price. We understand every situation is unique and we will work with you to ensure the deal we put together is fast, fair and hassle free. Contact us today at 516-330-6940 or fill out the below form.
Related articles for Long Island Sellers:
- Frequently asked questions when you want to sell your house FAST for cash
- Can I sell my Long Island home “As is?”
- Do I need a real estate agent to sell my house?
- I inherited a house, What to do? Should I rent it or sell it?
- How do I sell a house I inherited – the reality behind probate on Long Island
- How do I sell my house FAST on Long Island?
- Learn about how our process works
Are you in a difficult Real Estate situation?
Do you need to sell your Long Island house quickly?
Since 1998, we have been a trusted source for the latest information in regards to selling your home fast for cash on Long Island. We will have an honest conversation with you about the benefits and disadvantages of a quick cash sale of your property. If it is not right for you then it will not be right for us. It must be a win-win situation.
- We have purchased hundreds of homes with cash since 1998
- We have over $5,000,000.00 in funding available to purchase Long Island homes.
- You will always get cash at the closing.
- We always keep our word and will always tell you the truth.
- We will purchase your home as-is, in its present condition, no matter how much work is required.
- You can avoid all the costs and frustrations of fixing your property for sale.
We are the buyers. We are interested in buying your home- not in listing it as a Real Estate Broker.
Our Home Buying Timeline is typically 2-4 weeks from initial contact to closing of the property. If you need to close faster, it is certainly possible. If you need more time than that to close, that is available as well. We are the go-to if you want to sell your home quickly!
If necessary, we will cover normal closing costs. You will not have to pay anything or bring any money to the closing. All you have to bring to the closing are the keys!
Our process is substantially faster and much less stressful than listing with a real estate broker. When you list the home with a broker you can count on 6-12 months and possibly longer before you get to the closing table. While it is likely you will end up with more money with a traditional real estate listing, our process is completely hassle free and fast!
Benefits of Selling Your Long Island Home For Cash
We are not moving into the house. Therefore there is no need to coordinate closings or lease expiration’s. There are no buyer showings or Open Houses ever. There is no renegotiating after a Home Inspector goes through your property. There is no waiting for a mortgage approval that may or may not materialize. You can even leave the contents of the house if that suits you best.
If you want a fast, trouble-free sale, contact us and we will make every effort to make it a win-win situation for both parties.
Who should consider selling their house this way?
- Need to sell the house quickly without issues.
- Inherited a property and want to meet your obligations as soon as possible.
- In the process of Foreclosure.
- Have an Unpaid Tax Lien.
- Out-of Town homeowner that wants to liquidate the property.
- Need to sell your house before you can buy another property
- Relocating either for work or lifestyle reasons and will not be here to sell your house in the traditional manner.
While these are the major reasons that people choose us to do business with, every circumstance is unique and we are open and innovative in our approach to solving any and all Real Estate problems.
Let us help you.
Contact us Today!
Map for Long Island Cash Buyer
Is a Cash Offer Negotiable?