An average purchase mortgage can take up to fifty days or more to close. This is a lot of time of waiting as an investor. As time passes, other developments are likely to backfire the deal. So, what is the alternative? To get cash buyers real estate might be a good option where the deal is completed on the spot with transactions between the seller and buyer being made. According to the National Association of Realtors, in December 2020, cash sales made up 19% of transactions. Therefore, can you get a real estate cash buyer for your property?
Ask for leads
Many active real estate agents in your local investor community can easily find cash buyers. Ask for recommendations from the most reputable agents. Contact them or visit their offices where you can give details of your property on sale. Make sure you discuss the terms and conditions before the agent provides you with suitable leads.
Check public records for cash sales
All property sales are normally logged as public records. The process is meant to allow anyone to access the sold properties, the buyers, and the date they were purchased. In the case of those properties that were bought low and sold high, meaning that there were flip transactions, it is best to contact the owners and ask whether they might be interested in buying yours. It can be a good avenue to getting a cash buyer.
Attend property auctions
When homeowners stop paying mortgages, maybe because they face financial constraints, the properties go into foreclosure. Then, the properties are auctioned off, which can be handled online or in person. Buyers who attend the auctions have cash at hand to spend on foreclosed properties. Here, you are likely to encounter and network with many real estate cash buyers. Introduce yourself to some prospective buyers. Provide them with your contact information as well as a request for theirs. It might be your lucky day.