Fast Cash Sale


The fastest way to sell any property is to sell it to a CASH buyer. This is because the cash buyer does not need to get qualified and approved for a loan, wait for inspections, or wait for loan documents to be drawn up (which can take 45 days or more). Cash buyers can make decisions quickly. Cash buyers can also take care of all closing costs, back payments, liens, or taxes, or whatever it takes to get the deal closed. A non-cash buyer typically requires 30-60 days or more to close on a property - most of that time is spent waiting for the lender to approve everything. Additionally, lenders always require inspections, surveys, an appraisal, and possibly even repairs that cash buyers do not require. A cash buyer can close virtually immediately.

Virtually 100% of cash buyers are investors that are buying the property so that it can eventually be resold. This "flipping" of the property means that the cash buyer has certain overhead expenses that must be covered in the transaction.

 For example, the cash buyer will have to pay the following expenses:

* Closing costs on the purchase (~2% of sales price)

* Commissions on the resale (~6% of sales price)

* Closing costs on the resale (~3% of sales price)

* Monthly carrying costs until the property is resold (~4-5% of sales price, total)

* Necessary repairs/remodeling ($5-10K to $100K+)

These costs typically total to ~15% or more of the resale value of the property, which means that cash buyers can only afford to buy the property at 60% to 70% of its full market value in order to make a modest profit of typically 15% (of the resale price)

When you see a sign saying "I Buy Houses For Cash" it means "I'll pay you up to 70% of the property’s value, and do it fast". For some people, such as sellers with lots of equity that need or want money quickly, this is a great deal. For others with little or no equity, this is not an option. For those with modest equity, or that want or need to make more money selling the property (and have the time to explore other options), this is probably not the best option. SellMyHm.com will buy your property for cash and offer you several other options. Contact Us if you would like to explore this further.

Fast Cash Sale Example

- Current Appraised Property Value: $100,000

- Existing loan(s) payoff: $45,000

- Repairs needed: $5,000 (good condition)

- Sales price: $65,000 (70% x $100K minus $5K)

- Note: Seller does not have to pay commissions, most closing costs, etc. Close in <7 days.

Fast Cash Sale Advantages and Disadvantages

The advantage of a cash sale is if SPEED and no hassles, closing costs, repairs, and no banks to get in the way and slow the process down. The property sells FAST and in it’s as-is condition.

The disadvantage of a cash sale is a lower sales price. Of course, this is somewhat offset by the fact that the seller is not paying commissions and closing cost, and because it sells fast, the seller is immediately relieved of having to pay the monthly mortgage, which may be very significant. This is the property selling equivalent to winning the lottery and taking the lump sum cash payment up front.

Common Questions About Fast Cash Sales

Question: How quickly can I sell a property?

Answer: In as little as 2-3 days. Typically a week. It can be as little as 1 day in cases where the property is scheduled for foreclosure. It can take longer, in cases where there are title (ownership) issues.

Question: Does everyone on the deed have to agree to the sale?

Answer: Yes, unless one party has a divorce decree or other agreement allowing them to sell the property unilaterally.

Question: Is the price negotiable?

Answer: Everything is negotiable…..

However, SellMyHm, like all other cash buyers, is not going to pay more for the property than what they can afford – in other words for more than we could buy, renovate, and resell it for with a reasonable profit to cover risks and expenses.

Question: Why sell to SellMyHm?

Answer: SellMyHm uses standard Real Estate contracts, closes with title companies, and/or real estate attorneys, and adheres to the highest ethical standards when conducting real estate transactions. 

Contact Us

 

Privacy Policy

SellMyHm.com Privacy Policy

This statement discloses the privacy practices for SellMyHm.com. 

We takes privacy very seriously. Any user information we collect is considered private and is not used or shared, except as permitted herein, without the user's permission. We use personal information to provide the best quality service possible.

Information Collected:

SellMyHm collects user information from several areas including the 'New Member Registration' area (where user's name, street address, email address, the adding and editing of property information; the adding and editing of personal profiles and any surveys or contests that we may sponsor. SellMyHm may track the IP address of a user's computer or place a "cookie" in the browser files of a user's computer. This is required by our services to provide automated features.

Use of Information Collected:

Collected information helps us better understand its users' needs in order to improve its product and service offerings. Email addresses are used by members to login to the SellMyHm service.

  • Your email address will not be sold to anyone.
  • Email addresses are not revealed to users of the website or 3rd party affiliates or companies
  • Users of the system may be referred to by their first name only
  • Last names are not revealed to users of the website or 3rd party affiliates or companies
  • Communication occurs through an internal messaging system to protect privacy
  • Information provided in buyer profiles or property profiles, such as property criteria, personal buying    criteria, keywords, comments, and property photos will be made available to users of the website.
  • Property profiles that have been designated as 'Public' will be available to search engines, including Google, Yahoo, and others
  • Use of Communication Tools:

    You may NOT use the communication services or other email services that we offer to send spam (i.e. unsolicited commercial email) or otherwise send content that would violate SellMyHm's Terms of Use.

    Shared information:

    Though we make every effort to preserve user privacy, we may need to disclose personal information when required by law wherein we have good faith belief that such action is necessary to comply with a current judicial proceeding, a court order or legal process served on our Web site.

    While we endeavor to work with other sites and companies with a similar respect for user privacy, we cannot be responsible for the privacy practices of other sites.

    Please be aware that in the event SellMyHm merges with a third party, or in the event all or substantially all of our assets are acquired by a third party, customer information, including personally identifiable information, will be shared and/or transferred to such third party. The information may only be used or shared by such third parties for the primary purpose for which the information was originally collected. If such third parties, or if SellMyHm for its own business needs, desire to use the personally identifiable information for another purpose, you will be notified prior to the information being used for a new purpose, and you will have the opportunity to opt out of such new use of your personally identifiable information.

    Security of personal information:

    SellMyHm's clients and their personal information are considered to be our greatest asset and thus their privacy is treated with the utmost regard and respect. We'll take every reasonable precaution to secure personal information within both its computers and its physical premises.

    We follow generally accepted industry standards to protect the personal information submitted to us, both during transmission and once we receive it. No method of transmission over the Internet, or method of electronic storage, is 100% secure, however. Therefore, while we strive to use commercially acceptable means to protect your personal information, we cannot guarantee its absolute security.


    Testimonials:

    We post customer testimonials on our web site which may contain personally identifiable information such as the customer's name. We do obtain the customer's consent to post their name along with their testimonial prior to any posting of such testimonial.

    Opting-out, editing, updating or deleting personal information:

    SellMyHm utilizes email as a vital and primary communication channel with registered users and customers. As a registered user/customer, you hereby acknowledge and grant SellMyHm the permission to communicate with you via email (as well as other communication channel such as phone and fax) for any purposes SellMyHm determines to be relevant including, but not limited to, system messages, product updates, service announcements and other marketing messages. SellMyHm will use best efforts to honor customers request to opt out of marketing messages, but under no circumstances will SellMyHm have any liability for sending any email to its registered users/customers.

    You may correct or update your personally identifiable information by making the change on your member profile page. 

    Changes to this Privacy Statement:

    SellMyHm reserves the right to modify this privacy statement at any time, so please review it frequently. If SellMyHm decides to change its privacy policy, we will post those changes to this privacy statement, the homepage, and other places we deem appropriate so that you are aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it.

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