Essentials for Buying & Selling Houses for Cash in Virginia Beach

Keep Your Money Intact

It is not advisable to make any huge expenditure or move your money for 3-6 months before you sell/ buy your house for cash. You must not risk your cash/ credit profile. Cash lenders need to know that you are reliable and hence want complete documentation for providing best cash loan possible.

Pre- Approved and Pre- Qualified Cash Home Loan

There is a great difference between a buyer/ seller being pre-qualified and pre-approved mortgage. Anybody can get pre-qualified to buy your house for cash loan. Getting pre-approved means a lender has checked all the financial information and informed about how much one can afford and how much they will lend. Being pre-approved saves time and energy, gives opportunity to shop for the best deal and best interest rates. Find about junk fees, processing fees or points;make sure there are no hidden costs.

Sleeper Costs

When you buy/ sell house fast in Virginia Beach, be aware of additional expenses like property taxes, utilities and homeowner-association dues. New home buyers/ sellers also need to be prepared to pay for repairs, maintenance and potential property-tax increases. Make sure to budget for sleeper costs to cover and not risk losing the deal. 

House Visit

Hire a Home Inspector to buy/ sell house fast in Virginia Beach. It will cost nearly $200 but could end up saving/ minting you thousands. He provides an unbiased third-party opinion to make a decision whether or not to buy/ sell. If the inspector does find any issues/ added advantages with the home, you can use it as a bargaining/ price hiking tool. It’s better to spend the money up front on an inspector than to find out later you have to incur expenditure/ losses.

Bidding
Opening bid must be based on two things: what you can afford and what you believe the property is worth. Make fair and reasonable opening bid that does not totally offend the buyer/ seller. People think they should quote lower/ higher at first bid but it depends on the market situations. Look for what other homes in neighborhood have gone for in order to derive average price per square foot. Nowadays, many sellers/ buyers are defaulters for property taxes so if you get the valuable information from county clerk’s office, you can negotiate a good deal. Buyers/ sellers respect an oddball number bid and are more likely to take it seriously as they think you’ve given the offer careful thought.