There are many opportunities in the real estate investment market in Savannah, GA. From changing financial regulations and interest rates to an economic future that still has a lot of question marks about its direction, home buyers and home sellers are not sure how to proceed.
One smart strategy that buyers and sellers are exploring is the all-cash strategy.
Cash is King… for Property Sellers
Sellers who sell their homes through traditional methods (listing with an agent for a market price) discover a number of challenging scenarios:
First, they often have to sink a lot of their own time and money into their property first in order to get it up to a level that will make it sale-ready. Although many home sellers want to do this, they lack the time, money, and skill to make the necessary changes to make their property saleable. Although a cash offer is sometimes lower than a market offer, it can actually be more valuable to the home seller since it eliminates the pain, frustration, and costs of having to make repairs to the property before it is listed.
Second, houses sold at market prices can often only be bought by those who can get a mortgage. Getting a mortgage can sometimes take days or even weeks for a financial institution to approve. In other words, the seller is left waiting for the buyer to get a mortgage while the seller waits for the buyer to get a mortgage. So selling with cash if extremely fast. Most serious home buyers have the cash on hand within hours or a couple days at most.
Third, financial institutions don’t always grant the mortgages that homebuyers think they’ll grant. When homebuyers don’t get the financing they expected, sellers quickly discover that deals fall through relatively frequently. A cash purchase does not require financing because the cash is ready to go.
It’s no wonder that home sellers prefer cash deals because they can save time and money, and their homes can be sold quickly.
If you’re a home seller and you want to explore the possibility of a cash deal, just fill out the form to get started.
Cash is King… for the Savannah Property Investment Market
Home buyers love cash deals too!
First, cash deals can be obtained often for below-market pricing because of the value provided to the seller of a fast property sale (often “as-is”). Cash assures the seller that the property is accepted the way it is.
Second, cash is fast and there is no waiting. Sellers love the rapid transaction, and buyers love that they don’t have to wait for banks to approve a mortgage!
Third, cash is preferred because it doesn’t cost any more. When you buy a home with a mortgage, you pay interest on that mortgage — often thousands of dollars more than the original value of the home. if you pay cash, the price you pay is the only amount of money you pay and not a penny more.