It may be difficult to believe, but selling your home for cash offers several benefits. It is also a legitimate real estate transaction. Real Estate Cash Buyers Portland buy homes in this manner because it benefits their business plan. Often, their goal is to flip a home or add it to their inventory for a future project.
Once you have sold your home for cash, here are three things you can do with that lump sum of money.
Down Payment on a New Home
Individuals who purchase homes with cash are entrepreneurs. Their goal is to seize on a business opportunity that they believe is viable. When you sell your home to this entrepreneur, you have a decision to make. How are you going to spend your lump sum of cash? One thing you can do is to put it toward a down payment on your new home. When you put a sizable down payment on your next home, your mortgage is lower. This can lead to paying off the new property faster, and depending on how close you are to retirement, can lead to a comfortable retirement with no debt.
Rent Your Next Home
Maybe you are not interested in owning a home again, but you still need a place to live. With a lump sum of cash, you can comfortably rent your next home, or apartment, for an extended period of time. If you always wanted to live on the coast, this is your opportunity. If you wanted to hang out in a cabin in the woods for a while, now is your chance.
Go on Vacation
If you have sold your home to Real Estate Cash Buyers Portland, you can also opt to use your lump sum of cash to go an on an extended vacation, instead.
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