Do you have a house on your hands that you don’t know what to do with?
Maybe you got offered your dream job and you’re moving to another state next month. Maybe it was an inheritance. Or maybe you’re going through hard times and you need to downsize before the bank can foreclose.
What if we told you that you can sell your home without hiring a realtor or listing your property? What if it was possible for you to request a quote on Monday and have cash in your bank account before Friday?
All of this is possible if you accept a cash offer. Keep reading to learn more about the benefits of selling your house to a cash buyer.
1. You Can Sell Fast
Whether you’re selling a mansion or a two-bedroom character home, there’s one thing that all home sellers can agree on:
The real estate selling process can be long and tedious.
First, you have to find a real estate agent or broker. Then, you have to get the house ready for listing. And while Zillow observed that houses spent an average of 25 days on the market in 2020, there’s no guarantee that your house will sell within that time or less.
One of the biggest advantages of working with cash buyers is the fact that you don’t have to wait for the underwriting process or the bank. In some cases, homeowners are able to sell within the span of a few days.
If you’re in a hurry or in desperate need of a cash injection, cash offers make it possible for you to close fast.
2. You Can Skip the Staging
Sometimes it’s not enough for your house to be clean and in tip-top shape. Why? Because modern home buyers want to experience the space and imagine themselves living there.
For this reason, many real estate professionals will recommend staging the house before you list it. This not only helps houses sell faster — it also makes it possible for sellers to fetch a higher price.
However, there’s an art to staging a home. Your final setup can’t be too generic or too personalized. The wrong steps here could scare off your dream buyers.
Cash buyers are often real estate investors. As such, you don’t need to spruce things up or make the house look a certain way to get the sale. You can go straight from selling to counting your cash without having to hem and haw over this staging sofa or that bit of staging kitchen decor.
3. You Can Keep All the Proceeds
Let’s say you’re selling your property the traditional way. You’ve done the staging, worked with the real estate agent, and waited another month for the sale.
Unfortunately, even after you’ve put in all of this effort, you still won’t be able to pocket the full proceeds. Why? Because on average, real estate agents take anywhere from 4 percent to 6 percent of the proceeds.
Initially, this doesn’t look like a whole lot of money. But if you sell your house for $200,000, the agent could potentially take $12,000. No matter which way you slice it, that’s a substantial amount of money that could have gone towards your savings or your next down payment.
When you sell for cash, you typically don’t need a real estate agent to close the deal. As a result, you could very well find yourself with a little more money in your pocket at the end of the day.
4. You Can Skip the Repairs
Most homebuyers can deal with applying a fresh coat of paint or replacing a couple of doorknobs. But when the electrical system is constantly short-circuiting or the roof looks like it needs replacing, your house can quickly go from being a charming character home with potential to an outright fixer-upper. And if you’re in a hurry to sell, you might not have time to make the necessary fixes.
Nine times out of ten, you can’t get away with putting lipstick on the real estate pig without chasing buyers away.
However, for many house-buying companies, houses or houses that need work done are still worth purchasing. Or put another way, the kitchen floor needing to be re-tiled, isn’t going to be the end of the deal.
When you’re in a hurry to sell, the last thing you want is to be tied up in the repairs process. If you have to arrange walkthroughs, book consultations, or hire plumbers, electricians, and other specialists, you could easily be looking at a multi-week delay on your sale. And as we all know, skilled tradespeople don’t work for free.
The beauty of accepting a cash offer is that you can unload the property quickly and without having to take on all these expenses yourself. You can make the sale and walk away without having to stop and think about how to make the place livable for home buyers.
Should You Accept a Cash Offer on Your Home?
Whether you’re in a seller’s market or a buyer’s market, the option to sell for cash is always on the table. But is taking a cash offer really the right decision for your wallet?
If your house is in need of major repairs or if you need to close fast, a cash offer can put fast money into your bank account. You won’t have to worry about staging, real estate commission, or making substantial repairs, you can walk away from the property without a care in the world.
Do you have a home that you’d like to sell? We buy houses! Contact us to get a free quote today.