In 2021 it was reported that the global real estate market size was valued at $3.69 trillion. This goes to show that real estate is still as popular as ever, but when it comes to selling your home, what are the benefits of using a cash home buyer?
The housing market can be very fast-paced with homes getting sold almost as soon as they get put on the market. While many people choose traditional methods when selling their homes, cash home buyers are also a great option.
The problem is that not everyone knows why have someone who buys a home with cash can be so beneficial. However, at We Buy Houses Memphis, we have decided to cover some of the top benefits of using cash home buyers.
So if you would like to learn the benefits of using a cash home buyer, then keep reading.
The Process is Faster
When people are ready to put their home onto the market they normally like to sell a home as quickly as possible. In some cases, it may be essential to move out quickly because of a change in living circumstances or lifestyle change.
One thing that slows down home sales is whenever buyers have to apply for mortgages and wait to get their mortgages approved. Mortgages can take weeks or months to get approved and for the money to become available to the buyer.
The good news is that if you get a genuine cash buyer who is interested in your home then the sales process is faster because they don’t need a mortgage.
If you are selling your home to a cash buyer then you may be able to get paid within a couple of weeks instead of a couple of months.
The Transaction Is Simple
Once the offer is put through, the contract gets signed and everything is accepted then the sale is guaranteed. This is because your buyer is not waiting for any kind of approval from a bank or loan.
As long as the buyer has the funds in their account, they should be in full control of making the purchase to buy a home. Of course, in some cases, homeowners will ask the buyer to prove that they have enough funds to purchase the property.
However, when you sell your home to a cash buyer, there is often more flexibility to work out the smaller details. This means that you can get your home sold without worrying about the buyer applying for a mortgage and waiting for acceptance.
It Saves Money
When selling a home there are some additional costs that are included as part of the selling process. These costs can be everything from solicitor fees to paying the real estate agent or housing company as well as tax.
Unfortunately, these costs can add up and can be subtracted from the overall sum that you get paid for your home. The good news is that when using a cash home buyer you can save money on costs.
This is because you don’t have to pay for multiple legal fees, valuations, or perhaps even real estate agent fees. Overall, you can expect to save a lot more money by reducing these costs which allow you to keep more of the money that the cash buyer spends on your home.
When selling your home on the market there can often be quite strict price ranges about what you can expect to receive. However, when you are selling your home to a cash buyer, you can have more room for negotiation.
In many cases, you can let the cash buyer know that you are looking more for your property and bump up the price. When done properly, you can add a significant amount of money to the price of your property and potentially even get thousands more.
Also, when negotiating, buyers who need a mortgage are often limited by the amount that they can spend on a property, but cash buyers don’t have this problem.
So when it comes to bidding for your property, cash buyers will have more money in their reserves and can potentially outbid those who need a mortgage by making a higher offer.
Save on Repairs
When selling your home, repairs are usually recommended by the housing company and may even be essential when getting a valuation of a home. These repairs can cost a lot of money and they can also slow down the selling process.
When using a cash buyer, you can sell the house exactly as it is in its current condition. In this case, you don’t need to worry about doing repairs or spending the extra money to get the repairs completed by a professional.
Instead, you can simply sell your home as it is and you may even get a good price even with the repairs included. This is a great way to save money on repairs and save time when selling your home.
Where to Find a Cash Home Buyer
Finding a cash home buyer may sound difficult, however there are many cash buyers in todays market who are looking for opportunities to buy properties. At We Buy Houses Memphis, we are highly experienced in helping homeowners with selling their home.
With our expertise, we can help you to sell your home fast and get a great price for it.
If you would like to learn more about our services, or for some friendly expert advice, simply contact us today.