All-cash deals are getting more common in the US housing market, accounting for 25 percent of all house sales in April 2021. That’s a 15 percent increase compared to last year.
Choosing to sell your house for cash means you’ll be working with a house buying company that offers to buy your home outright and all at once. No lender financing will be needed to complete the transaction.
So, why are more people in America opting to sell their homes for cash? In today’s post, we uncover eight of these reasons.
Read on to learn more.
1. You Get to Sell Your Home Quickly
Sure, it’s a seller’s market at the moment, with homes flying off the market regardless of their location. Still, the majority of homes remained on the market for 56 days as of August 2020, from listing to closing. That’s a long time when you need money quickly.
Arguably the biggest benefit of selling your house ‘as-is’ is that the buyer will offer cash for your house right away. In most cases, the entire transaction is finalized in mere days. This is perfect for a seller looking to close on their home quickly.
2. Chances of the Deal Falling Through Are Minimized
When you opt to sell your home in the traditional manner, there’s always a chance that buyers won’t be able to close on the property. As a result, there are delays, and often the closing process is totally abandoned. Of course, you can opt to take legal action, but that’s a costly, time-consuming affair.
The benefit of selling your home for all cash in ‘as-is’ condition is that the chances of the deal falling through are almost eliminated. That’s because there’s no need for a loan or mortgage approval. The buyer avails the cash almost right away, which means you can move on to other things.
3. It Eliminates the Need for Repairs
Many home sellers opt to first repair their homes before listing them. That means putting money in your property and calls for more time before you can finally put your house on the market.
Selling your home in ‘as-is’ condition eliminates all these hassles. Whether the house needs new plumbing, new wiring, or a simple facelift, you can let the buyer worry about that. The need for staging a home is also eliminated.
Without the need for repairs and staging, you can begin the selling process right away and be assured of a fast closing.
4. The Money Is Available Quickly
Many home sellers looking for a quick closing are going through a financial crisis. It could be that you need to settle medical bills, need to buy a property somewhere else, or in an unforeseen financial circumstance. Regardless of the cause of your financial distress, an all-cash offer for your home can be your ideal solution.
5. There Are Fewer Fees Involved
If you’ve ever sold a house through the conventional approach before, then you know that there are numerous fees involved. These fees are part and parcel of the home buying and selling territory, so you can’t get away from them.
But when you sell your home ‘as-is’ and for cash, you can get away with most of these fees. In particular, you don’t need to worry about the fees associated with lenders and mortgages. And since it’s likely that you won’t be using a real estate agent when selling your home for cash, you get to avoid these fees as well.
6. You Don’t Need to Do Marketing
Most sellers who opt to market their homes ‘as-is’ never bother to market their homes at all. The fact is there are plenty of places online that can help you sell your house for cash quickly. A simple ‘we buy homes’ search online should yield plenty of reputable companies with whom you can do business.
Of course, you’ll still need to research the companies you find who are willing to give you a cash offer for your house. You want to ensure your potential buyer is a reputable entity willing to give you an offer that makes sense to you.
7. There’s Less Negotiation
The negotiation process is one of the most stressful for most house sellers. It’s one of the reasons most sellers hire a seasoned real estate agent.
Thankfully, all-cash offers require little negotiation. Some deals don’t even require any negotiation. It’s a huge plus if you don’t enjoy haggling.
Provided you’re working with a reputable home buying company, you can expect a decent deal for your home. You can also get offers from multiple buyers and compare the best one.
8. A Cash Offer Is Less Stressful
The entire process of selling a house can be stressful. If there’s a way to make it a little easier, there’s no reason that you shouldn’t take it.
When you opt to take an all-cash offer for your house, you’re consciously deciding to make things easier for you. You’ll be interacting with fewer people, signing fewer documents, handling fewer fees, and eliminating the need for repairs.
There’s Every Reason to Sell Your House for Cash
The conventional approach of selling or buying real estate is never a walk in the park. It’s the reason many sellers are now opting to accept all-cash offers for their homes instead. Ultimately, it means a lot less hassle for you as the seller, and you get the money you need in no time.
Would you like to sell your house for cash? Please, contact us today and get the best offer in town.