If you’re facing foreclosure, need to sell fast to avoid going under. Or want to relocate sooner than you can afford, a “cash for house” deal may be your best option. Such transactions are also known as “house-for-cash deals,” and they take many forms. They are all transactions in which the seller receives cash instead of a traditional real estate sale where the buyer makes an investment and has to wait several months for their return on that investment.
In most cases, the seller does not receive cash directly but through a third-party company that facilitates these deals. There are multiple companies that offer what is called “house cash services” (HCS). They function as intermediaries between sellers who need to sell fast and buyers.
Receiving cash-only deals
If you’ve been browsing online ads for “cash for house” offers, you’ve probably seen some ads that offer what’s called a “cash only deal.” The key point to understand here is that these are “cash only deals”. They involve no exchange of title, no exchange of equity, and no financing.
They simply involve the buyer paying cash in full to the seller upon closing. These are the most common type of “house for cash deals”. And are often the best option for sellers who need to sell their houses fast and don’t have time to wait for a traditional sale to close.
Title Only Deals
A “title only deal” is a “cash only deal” that involves no exchange of equity. In other words, the buyer buys the title to the house, and no equity is exchanged. The buyer is basically purchasing the right to take possession of the property. Under the condition that the seller will not have any other rights or claims to the property. Title-only deals are often used by investors who buy a lot of properties and by people who have the cash to spare.
They are often the cheapest option for people who need to buy a property quickly with cash. The key thing to note about title-only deals is that, although the buyer does not exchange equity, they do still have to go through closing.
The buyer will have to pay taxes, attorney fees, and other costs that are typically associated with closing. Most importantly, the buyer will have to provide a title insurance policy to protect against future claims that the seller might bring against them in the future.
Equity Only Deals
An “equity only deal” is a “cash only deal” that involves no exchange of title. In other words, the buyer buys only the equity in the house. The buyer is basically purchasing the right to receive a portion of the equity in the house (the portion of the home value that they put down). An equity-only deal is usually done when the seller has a high equity in their property (for example, if the seller owns a big house in a nice neighborhood).
“Stamp and Go” Deals
“Stamp and go” deals are “cash only deals” that involve no exchange of title. In other words, the buyer buys only the right to take possession of the property without buying the title. The buyer is basically purchasing the right to kick the current owner off the property.
The buyer “stamps” the property by serving the current owner with a notice of default and “goes” by paying the seller the agreed-upon amount. Stamp-and-go deals are done when the owner of the property does not have the money to pay their mortgage. Stamp-and-go deals are often done by home equity lenders when they want to take possession of a house that is owned by someone who is behind on their mortgage.
Short Sale Deals
“Short sale deals” are “cash only deals” that involve no exchange of equity. In other words, the buyer buys only the right to receive a portion of the equity in the house. The buyer is basically purchasing the right to receive a portion of the equity in the house. Short sale deals are done when the seller owes more money on the house than it is worth.
The seller usually has to go through a long and painful process to try and get the bank to agree to a price less than what is owed on the mortgage. And also have their mortgage lender “short sell” the house. In a short sale, the seller usually has to agree to sign a deed that lets the buyer take possession of the property without paying the seller any money upfront. Short sale deals are often done when the seller needs to sell fast. And the seller doesn’t have time to go through a long and painful process to get their mortgage lender to agree to a short sale.
Company-owned Repossession Deals
“Company-owned repossession deals” are “cash only deals” that involve no exchange of equity. In other words, the buyer buys only the right to take possession of the property. The buyer is basically purchasing the right to kick the current owner off the property. Company-owned repossession deals are done when the owner of the property has stopped making payments on their mortgage.
The lender then hires a company to come to take possession of the property. The company will then try to sell the property quickly to recoup as much money as it can. Company-owned repossession deals are often done when the lender needs to sell the property quickly. And the lender doesn’t have time to go through a long and painful process to get the property repossessed.
Sell Your House Fast
Sell your house fast, and you’ll get to cash in on all the equity you’ve built up in your home in one fell swoop. Whether you’re facing foreclosure, need to relocate sooner than you can afford. Or simply want to free up some cash, a cash-for-house deal is a great way to get cash fast. With a cash-for-house deal, you don’t have to wait to sell your house.
You also don’t have to deal with the hassle of showing your home to prospective buyers. Sell your house fast by working with a company that specializes in cash-for-house deals. A cash-for-house company helps people who need to sell their house quickly get a fair price for their house.
In conclusion, you should always consider the factors that go into your decision to sell or buy a house. You’ll also want to consider the size of your property and whether you can afford to pay off all of the debt that you owe for the house. It’s important that you consider all of these factors when deciding whether or not to buy a house. If you don’t, then it’s likely that there is something wrong with your decision and that you don’t have the money needed to pay off all of your debts.