Traditionally, people sold houses to buyers who bought properties with a mortgage. Mortgage-contingent offers favored buyers because they pushed the seller to wait until the financing was approved. But recently, most of the home sellers in Oklahoma City find cash offers more attractive than mortgage-contingent offers. They provide faster closing and hassle-free procedures. Listed below are reasons cash offers are more attractive than mortgage-contingent offers to sell a house fast in Oklahoma City.
In a mortgage-contingent offer, the creditor may pull out of the deal at the eleventh hour, causing the deal to fall through. But with a cash buyer, these risks are non-existent as there are no funding issues. The entire payment will be made on the closing date, and you can happily walk out of your property with cash.
Unlike mortgage-contingent offers, cash offers are not susceptible to delays and retractions. A mortgage-backed bid will take months to complete all the documentation and other procedures involved. However, selling your home to a cash home buyer in Oklahoma City is quick and easy. A cash offer can be closed promptly within a month.
No Extra Expenses
Mortgage-contingent offers involve many extra expenses like mortgage appraisal fees, inspection fees, closing costs, and brokerage. When you decide to sell your home for cash, you don’t need to hire an agent, saving you a hefty sum on the commissions. It also does not require inspections, appraisals, staging, or showings, helping you save money.
Most sellers prefer cash buyers because they buy houses as-is. They don’t require the property to be renovated or repaired, which removes half the hassles involved in the selling process. You don’t have to go through the anxiety of upgrading the house to get a reasonable price. The time and expense you will otherwise have to spend on renovations can also be saved.
Cash offers make the entire selling process stress-free and straightforward. They fast-track the selling process and remove the hurdles present while selling to a buyer using a mortgage. You do not have to market the house or prepare it for open houses, staging, or showings.
If you have a house to sell in Oklahoma City and are looking for a cash buyer, contact us for a hassle-free experience.