Cash Fast Offers
Cash fast offers is exactly what it sounds like - an offer of fast cash for your real estate. People need to sell real estate quickly for a variety of reasons. Unfortunately, the most common reason is to avoid foreclosure. Although the government is implementing strategies to assist distressed homeowners, many will not qualify for help.
Cash fast offers can be a saving grace for individuals involved in short sale transactions. Due to the explosion of foreclosures some lenders agree to accept less than is owed on the mortgage note if the borrower can find a buyer in a short period of time.
Short sales are relatively complex and require lender approval. Two types of short sales exist - Deficiency Judgment or Payment in Full without Pursuit of Deficiency Judgment. A deficiency judgment should be avoided whenever possible because the borrower is required to pay the difference between the mortgage note balance and short sale amount.
For example, if a borrower owes $150,000 on their mortgage note and obtains a cash fast offer of $120,000, the borrower is responsible for paying the $30,000 difference. Considering most people don't have thirty grand lying around, a deficiency judgment can haunt you for a lifetime.
Heirs entitled to probate real estate oftentimes find they need to sell property quickly in order to avoid financially depleting the estate. When a person dies all their assets are transferred to probate. The probate process can be agonizingly slow and in some cases can take up to three years to settle.
During probate, the estate must continue making mortgage payments, property insurance and taxes, and pay for repairs or maintenance. Many estates do not have the financial means to keep up with real estate related expenses. Probate executors can sell real estate to eliminate financial burdens. Oftentimes, probate property is sold significantly under market value.
Some homeowners need to sell their house quickly due to employment relocation. Others own vacation homes or rental properties which they do not have the time or money to tend to. Many own the property outright and simply want to unload the associated responsibilities. By selling it under market value they increase their chances of locating a buyer.
One under-utilized source of obtaining cash fast offers is through private real estate investors. Many investors are buying houses with cash because it provides them with more room for negotiation.
In today's crazy real estate market, cash is king. Investors who buy homes with cash can pick up great deals while offering relief to homeowners who need to liquidate real estate holdings quickly.
If you need a cash fast offer on your real estate, fill out the "we buy houses" form. There is no fee to submit property information. I'm currently buying homes in Orange County, California and am connected with thousands of investors looking for great deals across the nation. Once I receive information about your property, I will contact you to discuss available options.
In the meantime, feel free to browse our realastate article library filled with buying, selling, investing and financing techniques. We add new articles each week, so take a moment to bookmark SimonVolkov.com and visit us often!
Published on April 18, 2009 at 01:59 AM | Comments: 1
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