Cash House Buyers in Portland
When you have an opportunity to sell your house for cash in today’s market, it is best to give it serious consideration. There are plenty of options, including cash house buyers in Portland.
A number of factors are adding up to “Sell my house for cash now.” We’ve listed them in this blog, so that you can find the right alternative that will allow you to unload your property at its peak value and profit now before it is too late.
A Tight Lending Environment
Lenders have done a complete about face since the mortgage market blew up with the subprime lending scandals. What was once seemingly free money is now all but impossible to acquire through a mortgage application. Mortgage banks are still reeling from the fallout over the housing crisis. Those that are still in business are very reluctant to loan money to anyone. Without the ability to qualify for a mortgage, the supply of buyers in drying up.
Low-Ball Appraisals
If banks are leery, appraisers are downright paranoid. Appraisers, who took a lot of heat for their part in the subprime crisis by overvaluing homes are now undervaluing homes. As a result, if you want to sell your house to a buyer with a bank loan, you’re going to have to sell it for less than it is really worth.
New Regulations
The government backlash in regulations following the subprime lending disaster have gone into effect for 2014 and they bring new rules that make it harder for buyers to qualify for a loan. Income-to-loan ratios, employment history requirements and higher down payment requirements are pushing many would-be buyers out of the market. First time buyers, people who have experienced time unemployed and retirees on a limited income all face new hurdles when attempting to qualify for a mortgage loan.
Cash House Buyers in Portland are Becoming Hard to Find
Remember when, not too long ago, most of the home purchases were all cash deals? Well, that number is down dramatically. With housing prices returning to normal, the big spenders have turned to other investment opportunities.
All of the above factors point to one big problem if you want to sell your house—it’s going to be difficult. Reluctant banks, low-ball appraisals, a lack of interest from real estate investors and tight government regulations add up to a diminishing pool of buyers, decreased demand and downward pressure on the price at which you can sell your home.
The good news is that we buy homes for cash. We’re not fickle investors who have turned to other markets now that real estate has become less lucrative. We specialize in real estate and are in the game for the long term. Individuals seeking to sell a house can turn to us for a fast sell without the headaches associated with bank qualifications, iffy appraisals and government scrutiny.
But beware, all cash house buyers in Portland are not the same. When trying to differentiate between the good and the bad, check their testimonials and reviews online. Google them and see what you can find. Also a good tip when dealing with a cash buyer in Portland is verifying they have the funds to close. This means at the time of contract negotiation, request fund verification. If they are the real deal, it shouldn’t be a problem.