The realities of modern medical and homecare costs mean you may need to sell your elderly parent’s home to pay for their bills. Your parent’s house represents a potentially huge check of hundreds of thousands of dollars that you can use to ensure they are comfortable and cared for in their golden years.
Not sure where to start? In many cases, the right cash buyer can help by making selling your elderly parent’s home much easier.
What is a Cash Home Buyer?
In a nutshell, a cash home buyer is someone who offers to purchase a house in cash rather than through a financed loan. “Cash” in this case doesn’t necessarily mean bills (although it can in some rare cases). More often, cash means that the full price of the house is paid in full via check or bank wiring.
Cash homebuyers are frequently investors, house flippers, or other individuals who want to purchase and take ownership of the house quickly. They want full ownership rather than having to take out a loan and have a bank or other lender retain ownership of the house for decades to come.
Benefits of Selling a Home for Cash
Selling any home for cash yields several immediate benefits, especially if you need money quickly:
- You get the entire value of the house in your bank account immediately, rather than accepting monthly payments as you would with a regular mortgage
- Most cash offers for houses close relatively quickly – some close in a handful of days, and most only take a few weeks from start to finish
- Cash offers frequently have fewer closing costs and other concerns. The majority of cash buyers will offer to purchase a house as it is to finalize the offer quickly, meaning you spend less time prepping the property, spending money on staging professionals, and so on (all of which can eat into the bottom line of your profits)
Given these advantages, contacting a cash buyer could be the smartest choice if you need to sell your elderly parent’s home to pay for their medical bills or home care.
How to Sell Your Parent’s Home
Fortunately, selling your parent’s house to a cash buyer is relatively straightforward.
First, you need to find a cash buyer in your area. KC Property Guys is a great example, as we have purchased and invested in properties throughout the Kansas City area for many years. Local cash buyers can finalize the deal more quickly and need less time to make an offer on your house.
Once you contact a cash buyer, request an offer from them. You can then negotiate the offer higher or lower depending on your budget requirements. It may be wise to get an official appraisal of your property so you can learn the house’s fair market value – this gives you a good starting point and prevents you from being scammed by cash buyers.
After you and a cash buyer both agree on a price, you can make the deal, shake hands, and use that money to pay for anything your elderly parents need.
Do You Need to Sell Your Elderly Parent’s Home to Pay for Care? A Cash Home Buyer Can Help: Contact KC Property Guys Today
When it comes to caring for your elderly parents, you don’t need to skimp or save. You can quickly sell their house for cash and get all the funds you need to make sure they are healthy and happy for years to come. Contact KC Property Guys today if you need to sell your elderly parent’s home to pay for their care ASAP.