Cash payment is the best means of payment as this will not pose a risk on the seller since money is paid on the spot hence one does not need to spend more time on knowing and seeking information about the buyer. When you sell your house using the credit means you will taking a massive risk as you may also stand a chance to lose money and this also calls for you as the seller to seek more information about the buyer. When you sell your house on cash basis, you will get money instantly which you can use to do other businesses. Usually, a cash sale will occur when a transaction is done, and money was given instantly. Discussed below are some of the merits and importance’s that a person will enjoy for having sold his house on cash payment.
One of the advantages a buyer is likely to experience when selling a house on cash is that you will not incur bad debt. For instance, if one owes you money and he or she dies, then this is considered as a bad debt as this debt won’t be paid under any circumstances. When you sell your house on cash sale you will be relieved of all these bad debts hence you won’t incur any loss.
Another importance’s of selling house on cash sale is that you will have liquid money, i.e., money at your disposal to undertake all your transactions. You will not need to make credit transaction when you are buying something. This is because you will have money at your disposal hence you can use this money for your transactions.
Another advantage a buyer is likely to experience when selling a house on cash is that you will have already received the money in case the buyer decides to change mind. This is good because when you sell a house on credit the buyer may change mind and thus you will not receive the payment They may have found another property they like better, or they may just naturally have balked at the commitment of buying a house. Thus cash payment of the house will help you to solve all these worries as you will have already received the money.
Another importance’s of selling house on cash sale is that you will have no trouble later since in credit sale you are left with stress and anxiety whether the buyer will be able to raise the full payment and clear the debt. This is so because money is paid instantly at the beginning of the transaction hence you don’t worry much about the financial position of the buyer. Even when the buyer may realize something new which he or she did not discover at the beginning.