Your property’s history can influence the seller. Find out the longest-standing owner, information on environmental issues, health issues, etc. Many homeowners simply hire a home inspector for quick approval. In many cases, this doesn’t pay off. Expect to pay more in home inspection fees than what you originally paid. Hiring a professional home inspector can save you up to 20-50%. Compare your inspected house to your ideal house. Some realtors charge extra for “developmental testing,” which could be something as simple as a screening, making sure that the house looks adequate for your family. Others test the exterior from a distance using a high-powered scope, putting your house in immediate competition with another house right across the street. Many houses will qualify for a special kind of home inspection that involves taking a closer look inside at points like under-sinks, ceilings, and chimneys. This special kind of home inspection is often referred to as a “home crawl.” If there are any issues that aren’t obvious, such as a leaky roof or plumbing that is hard to figure out, a full “dibble” will be considered.
You and the seller get a quick deal on the property. The buyer takes a small commission and makes a few thousand dollars before closing. At the time of listing, the home is not any more than the seller would pay, given the current market. Any profit made on the sale of the property is not considered income to the seller and thus will not be included in his/her tax return. I found a couple companies selling cash cash homes online, the following are two of their websites: sellmyhouse7.com and www.cashcashforhomes.com. They offer quick and honest sales. No middleman fees, just one deal to get it done!
The first thing you should do before you work with a cash homebuyer is to search on BargainBuddy.com for the type of home you need. It will help you keep up to date on who is selling what and when, as well as their competitors. After you get the contract in your hand, here are a few things to keep in mind: Buyer has one to three month mortgage. Right now there is a lot of property on the market in Calgary. This means that there will be cash sellers for sale throughout the year. The buyer and seller are usually home buyers or in the process of purchasing homes. The home buyer can usually be found within a few blocks of the property. They usually list with a cash back offer. For many homes, the seller will only accept cash back. This will allow you to negotiate a lower price than normal and to have a smaller commission.
A good broker will also send you important marketing materials. During the home seller visit, the broker will likely look over the home that you are interested in and offer you many things including services and appliances. You will likely be asked for reference checks and bank references. You will also be asked to produce all the personal documents necessary for a mortgage (mortgage application, identity verification, etc.). The broker will likely ask questions about your lifestyle and how much you are willing to spend to live in the house. Buying your property as a cash buyer is not difficult; all it takes is a little legwork. You and your loved ones can purchase the home in the next few weeks without having to take on any new debt. It is not too late to make the right investment decisions.
The only question here is whether you are more interested in negotiating a short-term profit or playing the long-term game with your cash. Many consumers have already surrendered their financial comfort zone when it comes to real estate, abandoning their long-time habit of staying with banks and realtors. Realtor bills often account for 30-50% of the sale price. And there are signs that consumers are increasingly turning to home improvement stores, full-service home improvement firms and individual home inspectors. A more secure way to recoup your cash in the short-term is to use your own business savvy to outsmart a bank or realtor when selling your home.