In the world of real estate, many professionals and homeowners alike have varying opinions about what the best way to sell a home is. Sellers looking to move quickly, with added convenience and cost-saving measures often look to cash buyers as their preferred route, but these buyers often come attached with misleading, incorrect and damaging misconceptions incorrectly associated with them. Here are three of the most common misconceptions sellers have about these buyers, and why they’re incorrect.
1. Illegitimate or Scam
Many sellers believe that cash buyers are illegitimate or scams, offering them hundreds of thousands of dollars with little financial contingencies. Although this skepticism is natural, it is also false. Cash buyers operate legitimately and within legal parameters, outside of the typical real estate market transaction model. They eliminate the need for third parties such as realtors or brokerages, and bring the seller directly to the buyer. These buyers have upfront capital, and are often taking on huge risks. These risks are taken due to the experience that these buyers have, and their ability to operate professionally to avoid loss.
2. Paper Cash
Another misconception many have is that cash buyers purchase properties with actual paper cash. This is also untrue. Although many of us may dream of one day being presented with a briefcase full of cash, the use of cash in this regard refers to the lump sum paid directly to the seller. The use of cash often amplifies the previous misconception that the operation is illegitimate.
3. Too Good to be True
Finally, many sellers believe that the opportunities advertised to them, such as saving thousands of dollars and weeks of time, may be too good to be true. Although this is wise thinking, it’s a false, unnecessary concern. Cash buyers, such as Cash House Buyer, are able to provide sellers with these benefits due to the lack of constraints that the real estate market places upon sellers and buyers alike. Without the bureaucratic, overwhelming process that is required of you when selling on the market, cash buyers are able to accommodate sellers on a more personal basis, and in turn provide benefits unavailable to them on the MLS.
All in all, it’s important to remember that cash buyers are legitimate buyers, simply operating differently than the typical seller may be accustomed to. It’s important when dealing with a transaction such as this to remain vigilant, though, as although most companies operate with good intentions and are seeking a mutually beneficial transaction, scams can occur and it’s imperative that all sellers conducting business with private buyers are legally represented and apprised of all proper information. If you’re seeking the benefits listed above from a legitimate and experienced cash buyer, Montreal House Buyer can help.