Cash for homes is a legitimate business model, and many people want the buyer to pay in cash for their homes. The selling price of cash for homes Calgary is lower than what you could get in a traditional sale. A cash home purchase allowed both parties to close the deal faster.
People opting for cash for a house want to sell their property faster. If you want to sell your condo faster, you need to determine the seriousness and readiness of the buyer. Here are a few questions you need to ask a home buyer when selling your home in as-is condition.
Are You a Pre-approved Buyer?
According to recent data, Calgary city-wide sales reached 2,151 units in August 2021, which was 37% higher than August 2020. If you want to list your property in cash for the house category and sell your house fast, you need to look for pre-approved buyers.
A pre-approved buyer is an individual whose lender is more likely to approve a loan of a specific amount based on the person’s financial condition.
When a buyer shows interest in buying your house, ask the buyer if they are pre-approved. It will help determine buyers’ readiness in cash for homes in Calgarydeals.
Are You Using a Real Estate Agent?
According to recent Calgary real estate market data, around 797 condos were listed in May 2021, and by the end of the month, around 379 condos were successfully sold.
Before proceeding with the sale, ask the buyer if he has hired a real estate agent to complete the purchase. Real estate agents charge a commission when they are involved in the sale of a home.
If the buyer has not hired a real estate agent and agrees on a sale price, you can hire a real estate agent to complete the paperwork. You need to pay the realtor only 3.5% commission instead of the standard market rate of 7%.
Do You Have a House to Sell?
Most people who agree to a cash-for-home model have a house to sell. Your house sale depends on the successful sale of your house.
If the buyer is waiting for a buyer for the house, you need to consider other potential buyers who have the cash ready for the purchase. Selling your house to such buyers allows you to close the deal faster.
Have You Made an Offer to Another House?
When the buyer makes an offer to purchase a home, he gives “earnest money” to the seller. An earnest deposit can be in the range of a few hundred dollars to a few thousand. The buyer deposits earnest money with the seller as a commitment to buy the property.
The buyer can pull out of the deal, and he will only lose the earnest money deposit. If the buyer has presented an offer for another house, he might not be fully committed to buying your house for cash.
According to recent Calgary real estate market data, the average days of the house for sale on the market is 30 days. In simple words, you would be able to sell your house fast in cash for the home deal if you find the right buyer.
To sum up, these are a few questions you need to ask potential buyers to get an idea about their interest and commitment to buying your house for cash.
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