Cash home buyers in Cambridge are there for homeowners who find themselves in a crisis that demands quick money. These are people who can buy a property outright with cash they have on hand.
That can be an option for homeowners in the town of Cambridge, which is located in the Regional Municipality of Waterloo. The city offers a variety of activities including 20 km of hiking trails. Cambridge is an excellent place for outdoor lovers. Sportfishing, canoeing and swimming are just some of the activities people can enjoy at Shade’s Mills Conservation Area.
A Robust Market With Lots of Listings
Like a lot of other parts of Southern Ontario, the real estate market in Cambridge is robust. Current MLS stats report the average house price in the area was $524,493. There were 409 brand-new listings over the last 28 days. The median number of days on the market for a home in Cambridge is eleven.
Fastest Selling Area With Low Turnover
Cambridge is considered the second most expensive area in the greater Kitchener, Cambridge Waterloo area. It’s the third fastest growing zone in relation to North Dumfries, Kitchener and Waterloo. Cambridge also has the distinction of being the fastest selling area of the lot with the lowest turnover.
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With quick and friendly service, we are always happy to offer free advice. Whether you are serious about selling or just curious, we can explain your options and what to expect.
Even with those positive numbers, there are still homeowners in Cambridge who need to sell quickly.
Staying Ahead of Inflation
Given the pandemic, it’s not hard to imagine how people can quickly fall on economic hard times. Some people can get in over their heads and face foreclosure and eviction quickly. For example, banks don’t understand how approving someone for a large mortgage can start economic problems. They only set the maximum amount allowed based on the information they have.
Lenders don’t generally look into the other aspects of the homeowner’s life. And they certainly haven’t taken into account other issues like current inflation.
Managing The Inflation Problem
Recent reports say Canada’s inflation rate is at a 20 year high. That means prices are rising on everything and in turn making it harder for homeowners to pay all their bills. What’s more, the Bank of Canada might increase its lending rates to try and manage the problem.
People who don’t have fixed-rate mortgages can find costs spiraling out of control. When that happens they can find themselves in a position where they’ve maxed out their credit. That’s one scenario where selling their home quickly keeps them ahead of a financially devastating foreclosure and/or eviction.
If You’d Rather Not Show The Property
Other people in Cambridge use cash home buyers because they don’t want to show their property. Major renovations or repairs might be needed and the current homeowner can’t afford contractors and other experts to make things right.
Mold can grow inside a house that has a lot of moisture. Got it in your entire house? HomeAdvisor.com says you can expect to pay somewhere between $10,000 to $30,000 to get it removed.
Other reasons for selling a home quickly include:
- Odor or clutter that prevents visitors from entering. Often, people can’t enter a house because of odors or clutter. These can come from a variety of different sources like expired foods, collecting junk mail and newspapers. Hoarders are often at the root of this problem. They suffer from an issue where they find it hard to throw away possessions and have great difficulty in organizing and categorizing what they own. They collect an extreme amount of different items because they think they could be useful in the future.
- Occupants are sensitive to strangers. Some people prevent properties from being shown because they are sensitive to strangers. Avoidant personality disorder is characterized by feeling extremely inhibited in any social situation. The symptoms include being socially awkward and shy. Self isolation and low self-esteem are two of the reasons behind this disorder. If a property is owned or rented by somebody suffering from APD, showing it for sale through traditional channels could be a big challenge.
- Aggressive pets. Dogs have different reactions to visitors coming onto a property. Some jump while others feel anxious and bark or growl. Aggressive pets are another reason why some homeowners don’t want to show the home. Many of these animals react badly because they’re not used to being around strangers.
Sometimes, these dominance issues can’t be corrected and a quick sale of the property is the only solution.
How Cash Home Buyers in Cambridge Can Help
If you’ve found yourself in either of these situations or others where you’re cash strapped, cash home buyers can help. Here’s a few advantages to using this method which offers prices below market value.
- There’s no need for financing. That means both parties don’t need to go through the steps involved in a mortgage.
- There’s another difference between conventional home sales and cash offers. Because there aren’t mortgage requirements, there’s no appraisal. Both parties save more cash this way.
- Cash home sales also avoid the contingencies that can make selling and buying a home risky. For example, no one needs to go through a financing gauntlet and there’s no chance an offer will fail because of these requirements.
Have More Questions?
As Cash House Buyers ourselves, we can directly answer any questions you may have about the process. Since everyone’s situation is a bit different, we can look at your unique circumstances and give concise and actionable advice.
The Mortgage Broker Store is a cash home buyer. We have a squad of experts ready to serve you. Why not get in touch with us today? Our team has 34 years of real estate experience. Call 416-499-2122 or email email@example.com.