The quickest way to get out from under a mortgage is to sell house for cash. A cash purchase doesn’t require all of the inspections, surveys, and appraisals that most lenders demand. It costs the seller less, and those savings can be passed on to the buyers.Just a few years ago, most everyone would sell a house for cash. The stigma of debt was a burden that only a few carried around. If the debt wasn’t paid, the offender was carried off to jail to work off the debt. The penalties of today seem rather mild in comparison.sell house now Phoenix offers excellent info on this.
After WWII, lenders began to stretch their limits so that more people could borrow more money. The penalty of jail was taken away and the stigma associated with debt also evaporated. As buyers with lots of buying power (because of high loans drawn out over an even longer period of time), the housing prices skyrocketed.
To sell a house for cash may be the quickest and usually the easiest way to sell. The only problem is finding buyers with that kind of money. Because of the inflated costs in the housing market, few people even consider cash an option.
When you sell house for cash, your turnaround can be days instead of months. There is no waiting for the bank to approve a lone. There is no waiting for the paper work from the appraisal or survey. The buyer looks at the house, you sign the contract, and you hand over the keys. Technically, you wouldn’t even have to have the expense of a lawyer (although in this day and age I would call that a necessity).