The Benefits of Selling Your House for Cash in a Trust Sale
Want to sell your house but don’t have the time or money to wait for a realtor to sell it for you? Then selling your house in a trust sale might be the answer. In a trust sale, you sell your home to your house buyer then sign the deed to them. In return they sell you their house and would like you to pay them a certain amount of money at the end of their term. Want to sell your house as-is? This link can help: https://www.as-ishomebuyer.com/sell-my-house-cash-tennessee/.
Here are the benefits of selling your house in a trust sale.
You can sell your house quickly
You can sell your house within 10 to 20 days through a trust sale. Compare this to selling it in a normal way, where it would take up to 6 months before the sale is complete. Some sellers will choose the trust route because they have a short time frame in which to find the right buyer for their home.
You have a lot of control
Once you sell your house in a trust sale, you are free to locate your new house and move into that house whenever you want. Also, you can relocate to a different city and still keep all the benefits and entitlements of living in your current house, including insurance and property taxes.
You are not subject to any state sales tax
When you sell your house in a trust sale, you are not required to pay any sales tax. Most states have passed laws requiring all home sellers to pay sales tax on these transactions. However, trust sellers do not have to pay any sales tax on the sale of their home.
You are not required to give your house buyer time to sell the house themselves
You normally have a minimum of 6 months to sell your house in a normal sale. However, when you sell your house in a trust sale, the seller can choose any period of time that is shorter than 6 months. For instance, if you want a shorter period than 6 months you can arrange for a shorter amount of time.
You must give your house buyer a reasonable amount of time to find their new home
Sellers have the option of giving their buyers anywhere from 30 to 180 days to sell their house. If the seller wants to be able to move into their new home at a certain point, they can give their buyers less than 30 days. However, if they want to be able to move in any time within a year, then they must give their buyer more than 30 days.