Flipping Fixer Upper Homes

When Are Quick-Turnaround, Cash Real Estate Sales Worth Making?

Have you ever been approached by someone who offered to buy your home for cash? Maybe you have received a flyer or letter in the mail that makes this offer. People often say "no" to these offers, either because they are not ready to sell or because they figure they can get more for the home by listing it on the standard real estate market and accepting offers from mortgage holders. Sometimes, "no" is the right answer. But there are certainly instances in which selling your home for cash at a quick turnaround is a wise choice. Here are some of those instances.

You know the home has some structural issues

Does your home have a crack in the foundation? Maybe the foundation has shifted somewhat, or perhaps it is structurally unsound in some other way. In cases like this, it can be really hard to sell the home on the ordinary real estate market. Most buyers will walk away from a home with structural issues because they know the repairs will cost a lot. So, if you receive a cash offer for the home, even if the offer seems a little low, it can be worth selling the home simply because it may be one of your only chances to do so. The companies that buy homes for cash often have the means to fix structural issues to make the home more saleable, so they're open to buying such homes.

You want to sell ASAP

In some real estate markets, you might list a home and not know whether it's going to sell in one day or three months. If you can't afford to wait a few months to sell the home in such a market, accepting a quick turnaround and cash offer can be wise. It will allow you to check "sell home" off your list so you can move, proceed with a divorce, or tackle whatever else needs to happen next in your life.

You're worried a bank won't offer a mortgage

Banks do not like to offer mortgages on homes that need a lot of work, have some safety issues, or have a history of issues such as flooding. If you think that a potential buyer may struggle to get a mortgage on the home, then selling for cash may be a good choice. You would not want to list the home, only to have numerous buyers try and fail to get a mortgage on it.

The next time you get a cash offer on your home, you may want to consider it. There are definitely cases in which accepting such an offer makes sense.

Contact an agent to learn more about how to sell homes for cash

About Me

Flipping Fixer Upper Homes

There is a lot of interest in flipping fixer upper homes, thanks in part to the various reality shows involving the subject that you can watch on TV. However, what you see on TV isn't always the reality of this type of work. My name is Mark Chavez and I have worked flipping fixer upper homes for over a decade now. While I love the work, there isn't always as much profit as they show on television and not every flip is successful. I decided to create this website to talk about the pros, cons and truths surrounding this industry. If you have been thinking about buying a home to flip, I hope my website educates you so you have a real idea as to what you can expect.