Looking for a home in South Carolina, but don’t really know what affordable options you can go for? You won’t need to take out a huge loan just to afford your dream home, especially if you’re considering being a cash home buyer instead.
So why should this be the route you choose, if you’re looking at trusting an FSBO (for sale by owner) deal vs. being a cash home buyer in SC? Read on to discover what it means to be a cash home buyer and the kind of advantages it poses for you.
What Does A Cash Offer Mean?
To put it simply, if you want to accept a cash offer on a home, you immediately have the finances to pay for it in full. That’s right, you won’t need to take out a loan or seek secondary financing just to pay for a home.
What Are The Advantages Of Being A Cash Home Buyer?
Here are some that we found:
You Won’t Experience Mortgage Complications
Mortgage terms may be tempting enough to consider, especially if they seem affordable. However, if you fail to pay your mortgage, it’s possible that you could run into complications which won’t allow you to acquire the property you’ve been looking at.
Being a cash home buyer liberates you from this extremely stressful clause.
The Closing Process Is A Lot Quicker
On average, it takes around a month to purchase a property and a few weeks after that to successfully move into your new home. You might incur delays if paperwork requirements take a while to clear or your seller isn’t as communicative as you expect.
On the other hand, it could take as fast as two weeks for you to close a deal on a cash bought home. This has a lot to do with you not having to deal with a mortgage lender to seal the deal!
You Won’t Have To Experiences The Disadvantages Of Renting
In terms of affordable means to acquire a home, renting might seem like the better choice vs. owning a home. You can move in pretty quickly and you just need to pay rent monthly to settle in comfortably.
However, offers cash home buyers look at tend to be more affordable than renting in the long run, especially if you can move in just as quickly. Rent never ends until you move out after all, but a single cash offer is a done deal once it’s paid in full.
You Won’t Have To Undergo A Thorough Appraisal From A Mortgage Lender
Because lenders are seeking to finance buyers, they tend to be quite thorough throughout the appraisal process. This can take some time, especially if you have to convince the money lender you’re consulting with that you’re worth the approval you’re seeking.
Accepting a cash only offer could save you a lot of time, especially if you’re looking to move in as fast as possible.
There Are Fewer People To Deal With In The Selling Chain
One of the main disadvantages of acquiring a home the traditional way is the availability of all the people needed to make sure the process proceeds as planned. Not only will you be dealing with the seller, but you will be dealing with a real estate agent, a mortgage lender, your seller’s attorney, your attorney, and more!
Being in a cash only deal means that you have less people to interact with along the chain, and not a lot of obstacles to get through just to acquire the house you want.
Closing Thoughts
Home buying in SC doesn’t have to be as complicated as other sellers make it seem. If you’re ready to move into a South Carolina property as quickly as possible, contact us at Sell My House Fast GSAP, where we buy houses fast for cash.
To get an instant offer, simply visit our website and provide us with your property address, phone number, and email address to get in touch with as as soon as possible. We promise no realtors, no hidden fees, no commissions, and no repairs for the smoothest process possible for our clients. Don’t hesitate to reach out to us today. We’re ready to help!
