There has been a flux of buyers offering to pay for homes in cash over the recent years in America. For home sellers a cash buyer means a faster selling process because there is no waiting around for banks to approve loans. Not all buyers with large sums of cash in hand are created equal. Some of these buyers can become demanding.
Home buyers with large sums of cash know they have an advantage over buyers who need to get a conventional mortgage and begin to believe that this should give them entitlement to certain things even in a market with low inventory or a seller’s market.
Requests made by these buyers when they put on offer on a home can become outrageous pretty quickly. They may ask for home owners to rip out perfectly good cabinets at their expense because they don’t meet the taste and style expectations they have for the home. Some cash buyers have asked owners to throw in expensive and beloved pieces of furniture with the home at no extra cost. It is not uncommon for these buyers to want home owners to make over the home to their styling before they close the deal.
In other cases entitled buyers with money in their pocket have thrown a wrench in the offer by asking the home owner to vacate the property in a shorter period of time than a standard contract not being understanding that it takes time to find a new place to live and move all of their belongings out of the home.
Many times when cash buyers become arrogant and demanding the deal can turn stressful and sour and even become war-like. Unfortunately in places where cash buyers are more common, like New York namely the Upper East Side, home owners have come to balk at an all cash offer because of the horror stories that surround them.
There is a way to sell your home to a cash buyer without being subject to out of control demands. Sell to a home investor. Investors buy properties with cash not expecting anything from the buyer but to sign the documents. There is no expectation on the home owner to fix up a home or suddenly be surprised by a request to pay more in closing costs than was originally negotiated.
Reputable and trustworthy cash buyers will be open and honest about their home buying process because they want to make things as hassle and stress free as possible for both parties involved in the buying/selling process. They want to help the home owner move forward with their life not seek what they can get the home owner to do for them.
Thank you to our guest post for VisionRealty.com, BuyHomesinPalmDesert.com and LongIslandCashHomeBuyer.com for their contribution to our blog.