Advantages of a Short Sale
In recent times, the UK house buyers market has shown consistent growth. The number of transactions completed in the third quarter of this year was a lot higher than in the same quarter last year. House Buyers saw a sharp rise in activity in the third quarter of this year. In the same period, house selling activity fell by almost 3%, from a high level in Q2 to a low level in Q3. This drop was mainly due to a drop in mortgage applications, which normally results from eager sellers trying to get rid of their property sooner rather than later.
There are many reasons why house buyers are now opting for cash sales instead of looking to buy a property. The most popular reason cited by those who choose cash buyers is that they receive cash payments and are then able to pay their creditors immediately, whereas with a traditional buyer, you have to wait until the lender sends you a check. Cash buyers can also negotiate much better prices with their potential sellers as the seller will have to go through the process of taking possession of the property.
Another major reason cited for house buyers choosing cash sales over traditional methods of property sale is the perceived lack of time involved in selling a house. Some people believe it takes much longer to sell a property than it does to buy one. While there are a variety of opinions on this topic, the fact remains that it is easier and quicker to sell a home than it is to buy one. Most house buyers would prefer to be buying rather than selling, according to most research. This is because selling a home involves much more time than buying one, and house buyers feel that they can get a good deal on a property faster.
The third quarter of this year saw the slowest rate of house sales on record, according to statistics from the Canadian Real Estate Association. While the national real-estate market has slowed somewhat, there are still many options available to home sellers. Many sellers are opting for short sales, which involve the sellers selling their house for less than what they owe on it to avoid foreclosure. In addition, some house buyers are taking advantage of the current slow market to make a good deal on a house. These direct house buyers in the area are selling homes at prices slightly below the market value in order to attract a quick sale to minimize their investment costs.
As mentioned earlier, there are a variety of reasons why house buyers are choosing to close short sales instead of holding onto their homes for an extended period of time. However, there are also some benefits to this decision, which should be considered carefully before making the final decision. For instance, cash buyers typically pay a lower closing cost than traditional sales and can benefit by avoiding the higher interest rates that conventional buyers experience after closing. As well, a cash buyer can usually finance the entire purchase cost of a property, whereas a conventional seller will need to borrow money from a lending institution to cover the remaining balance on the loan. Read more now on how to sell your home as is.
With these advantages, cash house buyers have an excellent opportunity to buy houses for prices that could be significantly lower than those sold on traditional marketplaces. However, it is important for potential house buyers to realize that these benefits do come with some risks. As well, cash house buyers must be aware that the Canadian real estate market is still active and does experience fluctuations on a regular basis. For this reason, cash house buyers should do their research thoroughly before deciding whether they are a good candidate for purchasing a house. For more information about this topic, click here: https://en.wikipedia.org/wiki/Estate_agent.
