Buy House for Cash
"Buy House for Cash" programs are quickly becoming a popular way to buy and sell real estate. Although there can be drawbacks to paying cash for houses, real estate investors oftentimes obtain significant savings for a cash offer and sellers can unload their property in a stale market.
The primary downside of buy house for cash transactions is the loss of mortgage tax deductions. In many cases, investors purchasing homes with cash are using them as investment properties. Others are obtained for the purpose of house flipping.
Sellers who engage in buy house for cash transactions typically need to sell their house quick. This could be due to impending foreclosure, loss of employment, divorce or death of a spouse. Homeowners facing foreclosure oftentimes owe more than their house is worth. In some cases, lenders will engage in short sales and allow the homeowner to sell the property for less than it is worth.
As a real estate investor, I buy houses on a regular basis. I see the pain and financial turmoil homeowners are facing on a daily basis. The housing market is in turmoil. Lenders aren't extending credit. Foreclosure and bankruptcy filings are going through the roof. People are suffering and need to sell their house quick in order to avoid foreclosure.
When people are stressed out and desperate they tend to react without thinking things through. Unfortunately, there are many scammers out there waiting to pounce on unsuspecting homeowners. These people spend their days searching through courthouse records and soliciting homeowners who have received foreclosure notices.
Before entering into any buy house for cash transaction, it is imperative to do your homework. Check with the Better Business Bureau to see if the company is in good standing or has complaints filed against them. Conduct research to make certain the company is licensed to conduct business in your state. Use the power of the Internet to find out everything you can about the person or company who is offering to buy your house.
Currently, I am buying houses in southern California. Other areas of interest include Arizona, Nevada and Washington. However, if you own a home in average or above-average condition which is located outside of these areas, I have a network of more than 2,000 investors nationwide.
I invite you to submit information about your property via our "We Buy Houses" form. I will be happy to review your situation and will contact you within 48 hours to further discuss your needs.
Published on February 23, 2009 at 02:24 AM