Sell My Home for Cash in Katy TX
Are you interested in selling your home fast, the way it is, without investing into your property? There are house buyers in the Houston area, including Katy, willing to offer cash for your house. Selling your house doesn’t have to be difficult when you work with Equinox Realty Group.
Our team works with you to get an offer for your house quickly. We work with companies and individuals who are looking to buy houses in Houston without the stress of closing fees and additional closing costs.
Whether your home is in great condition or is in need of some serious maintenance to bring it back to life, we can still get you a fair offer for your home. Our buyers are interested in updating the property to fit their preferences, meaning less work for you before selling. We work with homes of all sizes and ages.
Contact us today to learn more about how we can help you sell your house fast and put cash in your pocket. We are more than happy to explain how to process works and to close on your schedule.
Who buys a house with cash?
Traditionally, cash buyers tend to be concentrated at either extreme of the housing market. On the low end, you’ll see house flippers and investors buying homes that might not qualify for a mortgage due to condition, price or both. At the higher end, there will always be buyers who don’t need a mortgage. That may be because they have plenty of equity from a home sale, they received a gift or loan from a family member, or simply by virtue of being wealthy.
In the current market, however, more and more average home buyers are paying cash. With housing inventory tight and buyer demand high, paying cash is one tactic some buyers are leveraging to win bidding wars.
If you get a cash offer from a buyer who’s more or less a regular, it may go more smoothly than if you’re working with a first-time cash buyer. Tasks like getting a purchase contract drawn up and securing title insurance are nothing new for them.
Investors and iBuyers vs. home shoppers
The category of regular cash buyers includes real-estate investors, house flippers and iBuyers. iBuyers are companies that pay cash for homes, providing an offer within days, if not hours, and allowing sellers to close in as little as two weeks. Though investors and flippers will seek out listings, you have to take the initiative when selling to an iBuyer.
These buyers generally aren’t planning to live in the home. They’re likely to waive an inspection contingency, because they expect to make repairs or upgrades as part of their investment. Not mandating repairs is also one way iBuyers ensure speedy transactions. Because they’re hoping to profit from buying the house, however, investors may make a lower offer than a buyer who’s looking for a place to live.
Why A Cash Offer May Be Better Than A Financed Offer
- Confidence in the deal going through. With cash, the buyer either has the money or they don’t — if you’ve verified the proof of funds, you know you’ll be able to close. Though data from the National Association of Realtors suggests that most sales close as expected — as of April 2021, only 5% of contracts were terminated — some sellers want a greater level of certainty. The same report shows that a closing being delayed is much more common, affecting 22% of transactions over the previous three months.
- Faster process. Even pre-approved home buyers have to get an actual mortgage approval, then go through underwriting. That can take 45 to 60 days. Closing a cash transaction can take as little as two weeks.
- Fewer contingencies. Cash buyers tend to be less likely to request an appraisal, a home inspection or other contingencies.
- Simpler closing. Cash buyers should take it upon themselves to get a title and escrow company, and have an experienced buyer’s agent (and possibly a real estate attorney) to ensure paperwork is complete and correct. Still, without a lender involved, there’s much less to review and sign off on to close the deal.
- No appraisal stress. Lenders require an appraisal before approving a mortgage, since the property is what secures the loan. When home values are rising rapidly, appraisals based on comparable home sales don’t always keep pace, leaving a gap between what a buyer would be willing to pay and what a lender will agree to finance. With a cash offer — and no appraisal — the home’s value is whatever the buyer is willing to pay.
Our team will work with you every step of the way to ensure the process moves quickly and without any problems.
Equinox Realty Group in Houston, TX
Equinox Realty Group, is a Texas real estate firm, located at 1980 Post Oak Blvd Suite 100, Houston, TX 77056. Equinox Realty Group provides a wide-range of real estate services. Consumers continue to find value in having a real estate professional help them through the home buying and selling process.
The wide variety of services real estate professionals provide are proving ever more valuable in real estate transactions(financing twists and sales contract intricacies). Please view Equinox Realty Group current listings or sold listings. Recently serving clients in areas Garden Oaks, Northwest Houston, Waller.
Buyers and sellers give high marks to real estate agents for the expertise and professionalism they bring to the real estate transaction.
Equinox Realty Group
1980 Post Oak Blvd Suite 100,
Houston, TX 77056