Enter “buy homes for cash” industries. These, and similar kinds of money lenders, provide a quick solution for many distressed homeowners. They buy homes “as-is”, which is, without any immediate repairs or preparation, and often pay cash, so distressed sellers do not need to await a bank approval. Most are very experienced in the process and have a keen eye for the current real estate market. They are well-versed in the tricks of the trade and can usually negotiate with banks on seller’s behalf to make a sell-or-retract deal. More info see it here.
These lenders also use the Internet to help their customers find potential homes and narrow the search down quickly. A typical transaction can be finalized in as few as seven to eight days. To expedite the closing process, these online money lending institutions allow for the “pre-approval” of the transaction through e-mail. This expedited service provides an extra degree of convenience for the buyers and minimizes the possibility of having to turn down a deal because of a delay in the closing process.
This form of home buying is becoming more popular among sellers who are not able to close a quick sale on their own property. For many distressed homeowners, We Buy Houses offers the perfect answer to their prayers. This is how it works. Sellers pay a flat fee to be affiliated with the company and submit their home information for consideration to We Buy Houses, a nationwide network of private home sellers. In exchange, they receive a lump sum payment for their home, which they then use to make repairs, prepare the property for sale, list it, and finally sell it to a qualified buyer.