Sell A House When Interest Rates Are Low
Most people think it’s easy to sell a house when interest rates are low. But that depends on the condition of the house for sale. If a house needs some repairs or updating, low interest rates won’t help it sell because it won’t qualify for a mortgage loan anyway.
Selling a house in Dallas or other parts of Texas is easy when buyers have the cash to pay for it, or if they can easily borrow the money to buy it. While it’s true that interest rates are very low right now, less than 4% annual interest rate on an average mortgage loan, this financial fact only benefits sellers with homes in good condition.
Low interest rates are valuable for buyers making offers on homes with few, if any, repair requirements made by a property inspector or a loan officer. When numerous repairs or replacements must be made to a house, that’s when low interest rates simply do not apply to it, even if a buyer qualifies. Both a house and a buyer must qualify for a mortgage loan before it is approved.
Cash is Still Better Than Low Interest Rates
If a home buyer has enough cash available to close a sale transaction, then they have no need to apply for a mortgage loan. Cash buyers have more freedom and flexibility than buyers who need to conform to the rules and regulations of the mortgage lender they’ve chosen. Every lender seems to have its own rules, but they all require property inspections of houses.
Cash home sales frequently don’t involve property inspections. If the buyer does their own inspection or waives the right to inspect then there won’t be a licensed inspector involved at all. Or, if the buyer chooses to hire an inspector, they may simply adjust their offer if the inspector finds issues that will be costly to the buyer after the sale closes.
We Pay Fast Is A Cash Buyer
The professional home buyers at We Pay Fast are the kind of buyer I need right now. I want to sell a house for cash now, with no waiting for buyer loan approval, property inspection or delayed closings.
I can call We Pay Fast at 405-821-1807 or email them at [email protected] A contact form is available on their website, too, at www.wepayfast.com Even though interest rates are low, I want to talk to We Pay Fast about buying my home and closing fast for cash.