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When you offer to a buy-and-hold investor, you have more versatile closing dates and will likely get much better prices than if you were to sell to a house flipper. House flippers Maybe media beloveds Chip and Joanna Gaines or your remodeling-enthusiast uncle come to mind when you see the expression "home flippers." Whether a little mom-and-pop operation or a larger business, flippers buy homes frequently in poorer condition and at a lower cost with the intent of refurbishing them and reselling them for more.

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He adds that while flippers generally wish to remodel their purchase and resell it as quick as possible, the actual time it requires to get a home ready to list can differ. In the existing hot sellers' market, for example, contractors and subcontractors are extremely hectic, so it's taking two times as long to fix up the typical house.

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ATTOM Data Solutions reports that in the first quarter of 2021, 32,526 homes and condominiums were flipped. Nationally, the number of turned homes purchased with money was 59. 2%. Source: (Benjamin Voros/ Unsplash) Why would someone sell their home for money?  Key Reference , convenience, comfort, and financial motivations top the list of reasons a growing variety of sellers are turning to cash buyers, says Van Soest.

Certainty You're moving for a job and need to be there by a particular date. You 'd rather not handle the danger of a low appraisal. You don't have the time to employ specialists and make major repair work. You fidget accepting an offer with lots of contingencies. Speed and benefit You inherited a house you're not familiar with and possibly far away from.

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You have a bothersome or occupied rental residential or commercial property. Finances You require money for a down payment on your dream house. You do not have the funds to make essential repair work. You're on the edge of foreclosure. You need money to get out of financial obligation. Take Northern California couple Sam and Cathy, * who were preparing to retire.

But after having a hard time to find specialists to make repairs and updates, they decided to offer to a money buyer instead and avoid the legwork. Figuring they 'd take a considerable loss on rate, they were stunned when they got a near market-value deal and closed the sale in just 20 days.