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Cash Home Buyers in Charlotte for Unexpected Situations

a sign that reads unexpected

Cash home buyers in Charlotte can purchase a property without the need for a mortgage. This kind of transaction is quicker and less complicated. Cash buyers offer quick solutions for selling your property if you face an unexpected life change such as divorce, medical bills, or relocation. The closing can occur within a few days or weeks, eliminating the need for financing approval. Compared to traditional sales, there is less paperwork and fewer contingencies. However, cash offers may be lower than financed offers. Therefore, weigh the pros and cons and understand the specifics of each offer before making a decision.  

According to Redfin, one out of every three homebuyers in the United States pay for their homes in total cash, the highest percentage in almost ten years. In September, the percentage of homes bought with all cash reached its highest since 2014. This was because higher mortgage rates made paying in cash more appealing while pricing out many buyers who would have needed to take out loans.

Let’s explore why someone would sell their home at a discount for cash. We’ve seen many examples of people in Charlotte facing challenging situations and dealing with burdensome property that prompted them to choose speed and convenience over price.

Story 1: Job Loss

A job loss can trigger a domino effect on your finances, with your mortgage payment often being the first domino to fall. Suddenly, missing your steady income source creates a significant gap in your ability to meet monthly obligations. While solutions like mortgage forbearance or loan modifications exist, they often require proactive engagement with your lender.

Joan, our customer, decided to move closer to her family and sell her Charlotte home after she lost her job. After years of deferred maintenance, the house desperately needed repair. Losing her job was the final blow. Selling her Charlotte home and moving in with her family during this transition would allow her to search for new employment, get caught up on bills, and simplify her life.

Selling her home to a cash home buyer allowed her to receive fair price based on its condition. She wanted a convenient way to sell her home without making any repairs, showings, or cleaning out the house. Her ultimate goal was to not fall behind on the mortgage payments. Therefore, she decided to sell to a cash buyer who offered to pay the closing costs and ensured that the transaction would be completed before the end of the month. 

Story 2: Inheritance

Inheriting a rental can be a mixed experience. While it may seem like a financial gain, inheriting a property with tenants who don’t pay rent can complicate things. 

Deborah inherited a rental property in Charlotte with tenants who had not paid rent for years. Unfortunately, they were also mistreating the property. The inherited rental property needed a roof replacement, and the septic tank had collapsed. Moreover, property taxes were due, which added to the financial burden.

Dealing with evictions, repairs, and potential legal issues can be long and stressful, especially if you are unfamiliar with property management. Debbie decided to sell the home rather than become a landlord with bad tenants.

Selling the home through the conventional method of listing it with an agent would pose a challenge. The tenants were not cooperative in allowing showings. They would have made it difficult for her to list the home. Additionally, due to the home’s poor condition, she realized that only an investor would be interested in taking on the project. Instead of going through a traditional home sale’s lengthy and complicated process, she contacted JMS Home Buyers and requested a cash offer. She was looking for a way to sell the home as is and walk away from being a landlord. This is what she had to say about her selling experience:

“Jody Christensen purchased my inherited property… she is very attentive & a great communicator. She coached me thru the selling process…. She knows her stuff!! I’m a very satisfied customer. Thx Jody!”

Story 3: Divorce

Divorce takes an emotional toll, but it can also affect your property. Selling your marital home can be difficult and emotional during divorce proceedings. Sorting assets and arrangements while adhering to traditional selling methods can be overwhelming. In such cases, cash buyers offer an alternative to selling. 

Cash home buyers can close the deal quickly, without the uncertainties of conventional financing, giving you a sense of control and clarity during such a difficult time. 

We once worked with a family in Charlotte who had a specific date for selling their home. They also wanted a fair price. We had a conversation that went something like, “If you had to pick two scenarios out of these three, which would you choose? Price, convenience, or speed?” 

If price were the only factor, we would have suggested listing the home on the MLS. However, they asked for convenience and speed over price. 

In their situation, they realized that a home inspection and appraisal would only delay the closing process once they found a buyer. Additionally, due to the home’s condition, it was likely to be sold to a cash home buyer who would fix and flip the house. The 2100 sqft home needed new flooring, paint, exterior siding, and a new roof. The selling price was undoubtedly going to reflect these repairs.

Selling to a cash home buyer would allow them to skip the inspections and choose their desired closing date. They were also able to save on closing costs and real estate commissions. They realized that the investor would need to sell the home for profit after the repairs, but this was still a good deal for them based on their situation. They decided to remove their personal belongings, leave behind unwanted items. It was a simple solution to a difficult situation they were facing.

Finding the Right Solution for Your Charlotte Real Estate Needs

Life throws unexpected curveballs, and sometimes, selling your home quickly and conveniently becomes a necessity. While cash offers may come at a slight discount compared to traditional sales, their benefits can be invaluable in specific situations like job loss, inheritance with troublesome tenants, or divorce.

Remember, there’s no one-size-fits-all solution. Considering your circumstances and seeking professional guidance when needed will ensure you make the best decision for your unique situation.If you’re facing an unexpected life event and considering selling your home in Charlotte, exploring the option of cash home buyers provides a fast and hassle-free solution, allowing you to move forward with peace of mind and focus on what truly matters.

Do you need help with your Charlotte real estate problem? Call us today to discuss how cash home buyers, like JMS Home Buyers, can assist you. 704-707-6016 or jmshomebuyers@gmail.com

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