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As such, many individuals going through a divorce are looking for a fast method to sell their house and move onto the next chapter. Water intrusion and flooding cause devastating damage on a house, and a home with a history of water damage can be more difficult to sell. It's also costly to repair, with the average water damage insurance coverage claim amounting to $7,000.
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Similar to water damage, damage brought on by a fire is tough and expensive to reverse. A decent fire will destroy your house to the ductwork and Sheetrock. Without adequate house owners insurance or the upfront money to make repairs, the only type of buyer happy to handle your residential or commercial property might be an investor who can pay cash and plans to gut it.
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Whatever the case, you can either pursue an off-market sale with a money purchaser, or, depending on your level of versatility, sell on the free market with a couple of faster ways worked in. Let's check out each opportunity. Option 1: Request an all-cash deal for your home When you sell a home, two steps tend to be the most time consuming: In a hot market, houses naturally sell quickly.
However in a routine year, your typical days on market might be more like 35-40 days. A home in rough condition will also take longer than typical to offer. A traditional buyer who's preparing to reside in the house will choose that it be move-in ready, and they might need the residential or commercial property to satisfy specific standards for it to pass the appraisal.
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On the other hand, information from Ellie Mae suggests the typical purchase loan took an average 49 days to close since April 2021. Even if you do zero home prep and attract a purchaser in record time, you can't accelerate this closing timeline so long as there is lender participation. This is why, as they say, "money is king." Selling your home to a cash buyer effectively gets rid of both of these weights that would otherwise slow you down.
However, you can take much of the uncertainty out of the process by working directly with an operation that purchases homes for money. How does selling for cash work? Typically More In-Depth goes something like this: You avoid the song-and-dance of staging your house to impress, and go straight to requesting a cash offer.