3 Ways to Find a Cash Buyer for Your Home

When it comes to selling a house, most people are satisfied if they can find a buyer in a reasonable period of time and get a solid offer on its value. But if you want the process to go particularly smoothly when you sell, a cash buyer is highly advantageous.

In this piece, we’ll explain what makes cash buyers so attractive and how you can find them.

The Benefits of Working With a Cash Buyer

A cash buyer refers any prospective buyer who presents an offer in cash, with none of the usual financing arranged through a bank loan or mortgage. Sometimes this means the buyer literally has the cash in his or her bank account, but other times it may mean your prospect is working with a hard-money lender who will front the cash on the purchaser’s behalf.

Whatever the case, there’s no financing with which you, the seller, have to deal. This entails a array of advantages, such as:

 

  • No financing hiccups. When a typical buyer makes an offer, it’s usually contingent on the financing. The potential purchaser might be pre-approved, but a lot can still go wrong between the time the prospective owner presents an offer and obtains final approval from the bank. If the lender decides it won’t approve the money, the buyer may pull out and get the escrow funds returned. When you’re dealing with a cash buyer, there’s no risk that this will happen. This means there’s one less obstacle to trip you up!

 

  • Fewer requirements. A traditional buyer must adhere to the bank’s requirements for inspections, insurance, and so on. A cash buyer decides how much risk she or he wants to shoulder, and has the option to bypass all those time-consuming steps. This usually streamlines the process and reduces potential pitfalls.

 

  • Fast transaction. To put it simply: a cash buyer means a probable fast transaction. This will allow you to move on with your life and possess your equity right away!

Negotiating with a cash buyer removes much of the stress that’s normally associated with trying to sell a house. You know pretty much what to expect and there’s far less chance of the deal falling through up to the last minute.

Three Ways to Locate a Cash Buyer

Now that it’s clear why a cash buyer would be so attractive, let’s explore some of the methods you can adopt to find one.

 

  • Search for a Local Cash Home Buyer

A local cash home buyer is definitely your best bet. This is the easiest option by far, and will typically give you the best ROI.

A local cash home buyer is an individual or group in your community who specializes in buying houses with cash in as-is condition. You can usually find such prospects by running simple Google searches like: cash home buyer in [your city] or [your city] cash home buyer.

For example, if you run a search for cash home buyer in Long Island, one of the first results you’ll see is a fellow by the name Joe Cordes of CoMax Properties. He specializes in paying cash for houses in the Long Island market.

The benefit of working with him — and this goes for any professional cash buyer — is that Cordes offers a swift and proven process. You won’t have to deal with the tire-kicking cash buyers who often fish for prize catches on social media and message boards.

 

  • Landlords on Craigslist

Can’t find a local cash home buyer that looks promising? Or want more options?

Try running a quick search for landlords in your area on Craigslist. All you have to do is browse the section that lists rental properties.

Not all landlords on Craigslist are actively looking to buy real estate … nor can all of them afford to buy with cash. But there are certainly some who can. If you contact 25 landlords, chances are you’ll turn up at least two or three who will be sufficiently interested to hear you out.

 

  • Real Estate Clubs

Every city or town has a real estate club where members actively seek local properties for investment purposes. See if you can find the groups on your area and float your property with them.

You never know who might choose to bring you an offer. It’s even possible that several parties who belong to the club might come together, pool their cash, and purchase your house as an investment.

Network, Network, Network!

Finding a competitive cash offer (or even multiple offers) ultimately comes down to networking. The more you can get your name out there and make others aware of the property you have to offer, the more potential buyers you’re liable to attract.

So network like crazy … and when you believe you’re finished with networking, do it some more!

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