Homeowners who want to sell and homebuyers are aware of the high interest rates prevailing in the market right now. The Federal Reserve increased the applicable interest rates late last year and there may be two more such hikes in the next few months. The real estate sector in Baton Rouge has already been a buyers market for a while now. The increasing interest rate is not helping them and sellers are finding it more difficult to secure acceptable closing offers. The higher rates environment may not be ideal for sellers or buyers but it has a positive impact for cash investors in the city.
Cash investors like Dependable Homebuyers are not dependent on banks or mortgage lenders. Hence, they are not affected by the increased interest rates. Even there is one or more hikes in the near future, the new interest rates will still be irrelevant for cash investors. The We Buy Houses company acquires residential properties in Baton Rouge and pays in cash. It is a onetime cash transaction. There is no mortgage or home loan. There is no funding of any sort from banks or other financial institutions. This is not something ordinary buyers can do. They have to rely on mortgage and hence will have to bear the increasing interest rate.
All buyers relying on mortgage have to factor in the additional financial burden due to increasing interest. This affects their affordability and hence they look for reduced ask prices. While many buyers may appear to be hard pressing and tough negotiators when it comes to the ask price, they too are rather helpless and have to keep their liability in check. Many homeowners agree to reduce the ask prices. Some cannot consider it as the return on their investment will be seriously affected. Since some sellers are agreeing to the terms of buyers, this is making life difficult for other homeowners who cannot do the same. Whether or not homeowners want to give in to the negotiations and reduce the ask price, it is worthwhile to consider an all cash offer from Dependable Homebuyers. Interested homeowners can read a recent press release they published at https://www.pressadvantage.com/story/29064-dependable-homebuyers-has-liquidation-solution-when-relocating-to-baton-rouge.
The high interest rates in Baton Rouge have encouraged many cash investors to venture into the residential real estate sector. Dependable Homebuyers has been buying houses directly from owners turned sellers over the years. The company presents a cash offer following a thorough inspection. Homeowners are not obligated in any way and they have no financial commitment. The company pays for the closing cost and other expenses, such as legal fees. Dependable Homebuyers comes up with purchase offers within a day of the inspection and closes sales in seven days. The entire transaction can be completed in a week. This is in sharp contrast to the average wait times of ninety days or longer for owners listing their properties online for sale.
The hikes in interest have increased the average days on market. There are fewer buyers. Any further increase will severely dent the prospects of selling a house in Baton Rouge. Dependable Homebuyers eliminates the dependence on banks and hence the relevance of interest rates. They also eliminate the involvement of realtors and hence their steep commissions. There is no appraisal and no uncertain wait time. Owners of houses in the city can sell directly to the We Buy Houses company for a fair price.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in Baton Rouge, Louisiana. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (225) 307-3324 and we’ll provide you a cash offer within 24 hours.