Cash fast offers allow buyers and sellers to quickly close real estate deals because there is no need for bank financing. Traditional loans take around 30 days to complete, while cash transactions can close within a week, or less.

There are several reasons sellers prefer cash fast offers. One of the most common reasons is to stop foreclosure. This type of transaction is usually accompanied by a short sale. In order to prevent foreclosure, some lenders will accept less than is owed on the mortgage note if the borrower can locate a qualified buyer within a short period of time.

Short sale approval must be obtained through the lender’s loss mitigation department. Caution should be used before entering into short sales. Some lenders persue borrowers for the difference between the sale price and mortgage note balance. This is referred to as a Deficiency Judgment.

Other lenders agree to accept the sale price as full payment. This is the preferred short sale because it allows the seller to walk away without owing on a home they no longer own. This type of short sale is known as Payment in Full without pursuit of Deficiency Judgment.

It is imperative to determine which type of short sale agreement your mortgage lender offers. A deficiency judgment remains on your credit report until it has been repaid in full. If you owe $150,000 on your mortgage and are able to short sale the property for $120,000, you will be responsible for the $30,000 difference.

Another reason sellers seek cash fast offers is to liquidate inheritance property held in probate. When a person dies their estate holdings must be transferred to probate. This process is used to validate the decedent’s Will and assess a value of assets. Probate is also used to determine rightful heirs.

Currently, probate courts are overwhelmed with administrative duties. These delays can cause probate to drag on for months or years; depending on the complexity of the decedent’s estate. During this time, the estate administrator must pay all costs associated with the real estate, as well as outstanding creditor debts.

Oftentimes, estates do not have sufficient funds to pay mortgage payments, property taxes, insurance and maintenance costs. In order to eliminate this financial burden, estate administrators can sell the property.

Buying probate properties requires a visit to local courthouses to view probate records. This information is public record and can be viewed by anyone interested in the estate. Private real estate investors are drawn to probate real estate because oftentimes these properties are in good condition and require little work.

If the decedent owned the property outright, investors usually purchase homes for as little as 60 cents on the dollar. Not only do investors get a great deal, the estate is relieved of responsibilities for maintaining the property and paying taxes and insurance.

Many buyers are electing to buy houses with cash because it has become increasingly difficult to obtain mortgage loans through traditional financial institutions. Cash fast offers provides extra bargaining power because the buyer does not have to wait for bank approval.

Simon Volkov is a private real estate investor who provides cash fast offers on all types of real estate. If you need to sell your house quickly or looking for exceptional real estate deals, visit www.SimonVolkov.com today.

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