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. Cash payment is reasonable as you will get money on the spot which you can use to do other business transactions hence no credit. What is called a cash sale of the house is when a transaction is done and money given on the spot. 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. Bad debt should be avoided as much as possible since in a condition when person dies; then it will not make sense for you to follow asking for your debt hence this will be considered as a bad debt. 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. House sold on cash will increase money circulation in the market. This is because you will have money at your disposal hence you can use this money for your transactions.
Another importance’s of selling house on cash sale is that you will have already had the money in your pocket 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 Cash sale does not necessarily give the buyer to change the mind since he or she has already signed the agreement. Thus cash payment of the house will help you to solve all these worries as you will have already received the money.
Another benefit you will enjoy for having sold your house on cash payment is that you will not need to worry whether the buyer will be able to raise money later. 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. The buyer may also discover a problem about the house which was not seen during survey, you as the seller this will not worry you.