Cash buyers make up a substantial percentage of homebuyers in the United States. In this read, we are going to take a look at why dealing with cash home buyers Chicago, like us, can benefit you both in the short and long term.
But before we delve in, what is a cash buyer?
As the name implies, a cash buyer is a person or a group that purchases houses exclusively with cash, without the help of a loan or mortgage.
At I Buy IL, we have our own money and don’t have to deal with third parties to make the purchase possible. So, if you are facing an emergency and need to sell quickly for money, we are your one-stop solution.
The Benefits of Cash Home Buyers Chicago:
1. No Risk of Mortgage Issues
Almost 20% of failed sales in the housing market is because the buyer is not able to secure a mortgage.
Even if they have an agreement in principle of a loan or mortgage, the lending party can still decide not to go ahead with the deal for an array of reasons.
If the sale falls through, you have to look for a new buyer, and the frustrating cycle begins.
Since I Buy IL is a cash buyer, you won’t expect us to apply for loans or mortgages and so, the sale is more guaranteed.
2. No Sophisticated House Chain
The primary reason for home sales falling through is because someone changes their mind during the process. This could be because the buyer found another appealing deal or their situation change.
However, by doing business with us, you prevent a chain-forming beyond us. Since there are fewer parties in the chain, you can be certain that the transaction will run seamlessly and your sale will go through.
3. The Process is Faster
A cash sale ensures you have the money at the earliest convenience.
The best part is that the deal can happen in a matter of days.
However, this would not be the case if you decide to sell through a real estate agent as the buyer will most likely take months to secure a mortgage.
This is a huge benefit if you need access to funds quickly, or need to move as soon as possible, perhaps due to work or other reasons.
Also, faster sales minimize the risk of a deal falling through.
According to research, about 15% of failed sales are due to sellers pulling out as a result of the process taking too long.