One of the primary benefits of selling to a cash buyer is the increased peace of mind that the sale of the property will close on-time and drama-free. With a traditional real estate transaction, the buyer’s offer contains several contingencies, a.k.a “weasel” or escape clauses, baked into the offer which gives the buyer the opportunity to unilaterally back out of the deal. The most common are loan, appraisal and physical inspection contingencies. With Urban Street, it’s a cash purchase, so there is no loan or appraisal contingency to worry about. Typically, the physical inspection is done before writing the offer, or, within 48 hours both parties executing the purchase contract. So, very quickly, Urban Street is contingency-free and committed to closing the transaction. With traditional transactions, knowing the buyer weasel out of the deal, the seller can only hold their breath and hope the buyer’s appraisal, loan and property inspection goes well.
