Selling your home for cash would have been considered unthinkable just a few decades ago. Now, it’s arguably one of the best ways to sell your house and move on with your life. Why would you want to wait an average of six months before you sell your home using traditional means?
Of course, as with all things — one size does not fit all, and your specific circumstances and goal should be the main factor that determines what route you take to sell your property. However, if you are looking to sell your home as quickly and painlessly as possible, then the cash home buying option might be right for you.
Be sure and check out tax implications.
Would you want to sit through dozens of meetings or viewings until you find the right buyer? If not, here are five reasons why selling your home for cash (quickhomebuyersnjdot com) to home buying companies may be the way to go.
You Can Easily Sell a Vacant Home
Whenever you need the services of a real estate agent (ferrandeopropertiesdot ca), somewhere along the way, they will suggest staging the home. You will remove your pictures and other close personal items from your home, with the objective being to get the prospective buyer to imagine what it would be like if they moved in.
What if you have an empty home and you are not willing to splurge on professional home staging? It has been proven time and again that selling an empty home is much more difficult in comparison to presenting a staged home. But arrange some of your own stuff and don’t worry about it. Your own things may be more comfortable looking anyway.
When selling for cash, the requirement for staging goes out of the window. Cash buyers make it easy to sell a vacant home.
No Worries About Financing
One thing that homeowners dread is having to deal with multiple people just to sell the home. This is especially true for homeowners who have encountered buyers who pulled out at the last minute.
Often the reason a prospective buyer pulls out is that they couldn’t get financing.
This is excruciating for homeowners to have to start the negotiation and sales process all over again. With a cash buyer, though, you won’t have to face such uncertainty.
Flexibility is Key
The thing about buyers of homes is that they will most likely require your home to be in tip-top condition before they even think of making that purchase. The buyer may be adamant about the various features of the home they would want to live in. In a good number of cases, a customer may walk away from the table if their most important requirements are not met.
Not so with cash buyers.
A majority of cash buyers are people who are looking to turn a profit. They will buy your home, as is, and then make those changes and repairs themselves. When a cash buyer purchases and performs repairs themselves — it allows for greater flexibility and ease of handling.
You Choose When the Sale Happens
The thing about selling through an agent is you will have to exercise patience you never knew you had. This is typical because even though you may want to offload the home to someone else, it is the buyer’s choice as to when the sale will happen.
Having someone else in the driving position can be inconvenient if you are in a hurry to move.
With a cash sale, you can approach the buyer months in advance and plan for a certain date, or even push for an aggressive timeline of two to three weeks. The sale is conducted on your terms.
When you go through the traditional route of sale for real estate, you are waiting for buyers’ contingencies, inspections, bank approvals, title company issues, estate agent timelines, real estate lawyers, and other issues. These things add a level of headache and delay to the time it takes to close the deal.
Anyone who has worked on a real estate transaction before will tell you more stories about a deal that was more complex with various moving parts than they can tell you about smooth transactions.
The slowdowns and holdups are usually because there are a lot of moving parts to real estate transactions. Many companies can be involved, and sometimes a lot of research has to be done before the sale is completed.
No repairs or less required repairs is perhaps the best part of selling your home for cash. You will not have to deal with roof inspections to check for leaks or infestations of pests. You will not have to deal with any of that. A person often has to sell a house that needs repairs and delays the sale or cancels the sale entirely.
When you have to repair a house you:
- May need to make the repairs yourself
- Hire contractors to make the repairs
- Pay for the job out of pocket and upfront
- Wait the amount of time for the job to be completed
- Get a new inspection upon completion
- Ensure the work is done up to the standards before the sale is completed
Repairs to a home can kill a real estate transaction quickly.
Walk Away from the Headaches
When you sell a house for cash, you can do so in as little as 7 days. Within one week, you can transform your property headache and nightmare into a thing of the past. The average person dealing with selling a distressed property does not have the time or capital needed to make it happen in the best way.
You may have a family to raise, a full-time job, and a laundry list of projects you have to focus on. How would it feel to finally unburden the headache of your property once and for all?
Fintech Kennek raises $12.5M seed round to digitize lending
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Fortune 500’s race for generative AI breakthroughs
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
UK seizes web3 opportunity simplifying crypto regulations
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!