One of the biggest reasons is with the economy being so bad more people are finding it hard to make their mortgage payments each month
. Another concern is for those who are close to foreclosure. Why allow a foreclosure happen if you can get it sold before then. Traditionally home owners contact their local real estate agents in order to get their home sold. But with many needing fast cash they are opting to go with a quick house sale.
So when should you consider a quick house sale? If you are looking to relocate fairly quickly or need to get the home sold before foreclosure then you may want to consider this method versus using a real estate agent. You can normally have the sale completed with money in hand within 3 4 weeks instead of the 4 or 5 months that a real estate agent normally takes to close a deal. For those individuals who are deep in debt can find financial relief with a quick house sale. This allows them to relieve themselves with the burden of a mortgage that they cant pay. It also gives them a bit of extra cash to pay off other bills that may be outstanding.
You normally will receive an offer of 85% of what your house is actually worth on the market. However, once you add in any legal fees, commission and any advertising costs that are associated with using an agent the amount wont be too much different so thats a plus.
A quick house sale can help to prevent the home owner from being forced into foreclosure, bankruptcy and the humiliation they may endure once they are evicted from their home. The biggest thing to keep in mind is to do the research needed to find someone reputable to represent you or the information needed to do it yourself.
The best thing about these kinds of sales is that buyers understand you do not have the money to make changes or pay anything towards closing. They will purchase your house as is and use their own money to make repairs or changes as they see fit. This gives you the freedom to move into a home that is more affordable or relocate in a new area to find stable work. Being free from debt is something that everyone dreams of so if you are in a financial crisis a quick house sale may be just what you need.