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How Long Does it Take for You to Buy My House in Bend OR?

The time it takes to complete a cash sale for a house in Bend Oregon can vary depending on various factors. Here are some insights from our past results:

  • In the best-case scenario, a cash sale can close in 7-10 business days, assuming there is a single living individual on the title, and that payouts are already in hand or provided quickly by the lending institutions involved.
  • A cash sale can be turned over in a week to two weeks. We typically aim to close the sale in 30 days or less – or a longer timeframe if needed.
  • As a local company that buy houses for cash, we can provide initial offers within 24-48 hours.

It’s important to note that the timeline for a cash sale can be influenced by the specific circumstances of the sale, the seller’s ability to move quickly, and the absence of additional complications such as additional liens on the home.

How Do You Determine a Price to Offer for My House?

As Local Bend Oregon cash home buyers we determine the price we can offer for a property by considering several factors:

  1. Property Condition: Cash buyers assess the condition of the property, including the heating and cooling system, roof, windows, kitchen, bathrooms, and foundation.
  2. Comparable Properties: Cash buyers analyze recent sales of similar properties in the area within the last six months to a year, taking into account factors such as lot size, number of bedrooms and bathrooms, and completed renovations.
  3. Repair and Renovation Costs: Cash buyers evaluate the property’s age, the quality of materials used, and any necessary repairs or renovations that need to be made. We also consider the property’s overall aesthetic appeal, including the layout and design
  4. Market Conditions: Cash buyers consider current market conditions, such as supply and demand, to determine a fair market value for the property.
  5. Location: The location of the property plays a significant role in determining a fair cash offer. Properties in highly-coveted neighborhoods may command higher offers.

By taking these factors into account,  and as local cash home buyers we can determine a fair and accurate offer for the property.

What are The Advantages of Selling a House to a Cash Home Buyer
  1. Speed and Simplicity: Cash sales typically close faster and involve a simpler process compared to traditional sales.
  2. Avoiding Repairs and Showings: Selling for cash often means selling the house as-is, avoiding the need for repairs and the hassle of staging and showing the property.
  3. Reduced Closing Costs: Cash buyers can significantly reduce closing costs for both the seller and the buyer.
  4. Lower Risk of Sale Falling Through: Cash offers have a smaller chance of falling through, as they are not dependent on mortgage approval.
Do You Buy Houses As-Is in Bend Oregon

Short answer is YES!

Selling a house as-is in Bend Oregon can offer several benefits, including:

  1. No Repairs Needed: Selling a home in its current condition means you don’t need to make any home improvements, saving time and money.
  2. Quicker Sale: Since you’re not making repairs, you can list your home sooner, potentially leading to a faster sale.
  3. Reduced Costs: Avoiding expensive repairs helps you avoid potential financial strain.
  4. Faster Process: Rather than waiting weeks or even months for repairs and other projects to be completed, you can list your home on the market and start showing it immediately.
  5. Smoother Closing: Selling a house as-is can lead to a smoother closing process, as there are fewer contingencies and negotiations.
  6. Convenience: In cases where a home is inherited or needs to be sold following a divorce, for example, the seller might opt for an as-is sale to avoid the hassle and responsibility of preparing the house
What Are the Costs to Sell My House Fast Bend

There are ZERO out of pocket expenses to you to sell your house fast in Bend!

What we pay for:

  • Insepctions
  • Misc repairs (after we close)
  • Escrow costs

By selling to a local cash homebuyer in Bend OR you won’t have to worry about the following:

  1. No Real Estate Agent Commission: Since you’re selling directly to a cash buyer, you won’t have to pay a real estate agent commission, which typically ranges from 5-6% of the sale price.
  2. No Seller Concessions: Seller concessions, such as covering the buyer’s inspection fee, title insurance or interest rate buydown, are typically not applicable in as-is sales.
  3. Closing Costs: Depending on the agreement with the cash buyer, you may still be responsible for some closing costs, such as transfer taxes and recording fee.
Can You Help Me Find Another House to Buy in Bend

No and Yes:

If needed we may be able to refer you to one of our local realtor partners we work with in the Bend, Redmond, Prineville and La Pine Oregon areas.

While we are local as is cash home buyers and not realtors we may not directly assist you in finding another house to buy, but our services can help streamline the selling process and provide you with the financial resources needed to move on to your next property. 

 

Difference Between Pre-Approved & Pre-Qualified Home Loans Oregon

The main difference between pre-approved and pre-qualified mortgages in Oregon lies in the level of detail and commitment involved in each process.

Here’s a comparison of the two:

Pre-Qualified Mortgage:

  1. Faster and less detailed process.
  2. No application fee.
  3. Provides an estimate of the loan amount you might qualify for.
  4. Helps you determine how much money you can borrow.
  5. Can be useful for focusing on a price range for your home search.

Pre-Approved Mortgage:

  1. More comprehensive and takes longer.
  2. Requires filling out a mortgage application.
  3. Requires a credit history check.
  4. Requires a review of finances.
  5. Provides a specific loan amount based on your financial situation.
  6. Gives you a more accurate estimate of how much home you can afford.
  7. Can be valuable when making an offer on a house, as it shows the seller you are a serious buyer.

In summary, pre-qualification is a quick and less detailed process that provides an estimate of the loan amount you might qualify for, while pre-approval is a more comprehensive process that provides a specific loan amount based on your financial situation

How can I apply for Home Loans?

We are not realtors or mortgage brokers, but as with realtors we also may be able to refer you to a GREAT local NW Oregon Mortgage Lender.

Here is a link to one we LOVE to work with and has been doing home loans in Oregon for almost 20yrs: Shannon McAlister with Luminate Home Loans – Portland Mortgage Lender | PDX Homeowners (home-owners-pdx.com)

What Are the Home Loan Limits for 2024

The loan limits for 2024 home loans are as follows:

  • Conforming Loan Limits: The baseline conforming loan limit for a one-unit property in 2024 is $766,550, an increase of $40,350 from 2023. For high-cost areas, the loan limit is $1,149 million.
  • FHA Loan Limits: The Federal Housing Administration (FHA) announced a minimum national loan limit floor of $498,257 for a one-unit property in 2024, which is set at 65% of the national conforming loan limit. The FHA loan limits for most of the country will increase due to the continued rise in home prices.
  • HECM Loan Limits: The Home Equity Conversion Mortgage (HECM) maximum claim amount will increase from $1,089,300 in calendar year 2023 to $1,149,825 in 2024. This maximum claim amount is applicable to all areas, including the special exception areas of Alaska, Hawaii, Guam, and the U.S. Virgin Islands.

These loan limits are subject to change based on local market conditions and other factors. It’s essential to consult with a mortgage professional to determine the specific loan limits applicable to your situation and location.