Cash Home Buyer??? Who says that? What does it mean?
Of coarse cash, what else would you use?
You are right, these are terrible terms to use and only an investor would use those terms.
As a home owner, you would think this means we will buy the house. So why do we use the term “cash?” The term cash actually means that we won’t be using a bank.
Also, there will not be FHA type of inspections and standards the house has to live up to in order for the sale to go through. There will not be a 3rd party checking the value of house against other recent sold houses in your neighborhood to confirm the bank will be making a good investment. As an investor here in Columbus we know the market and make our own decisions.
We look for houses that need updated and repaired. These houses would not pass the bank requirements to get a loan. We have other funding and business cash to buy houses in Columbus that the bank does not want.
The banks are doing something right, they have the largest buildings in town. But they don’t want all the houses, they only want the houses that pass the inspections. As a cash home buyer in Columbus we buy the houses the don’t fit into the banks business model.
Because of the inspections the bank has to process, the time period can be 45-60 days for them to fund a purchase. We have funds available now. We can buy houses quickly because we don’t have to worry about the inspections and comparisons.
The large bank does not know the market, they rely on others to check all kinds of boxes to fund a deal. We look at a house from the point that “how much will it cost to rehab this house?”
If you have a home the needs a cash buyer in Columbus please contact us.