Are you ready to sell your house? If so, you probably worry about how much time it will take to prepare for the sale.
From making repairs and cleaning the property to staging your home and making upgrades, there is a lot to do and think about.
You may also be concerned about finding a quality real estate agent or trying to handle the selling process on your own. All this can cause a lot of stress and frustration, especially if the sale is.
The good news is that you have another option. Now is a good time to consider selling a house for cash.
Keep reading to learn about some of the biggest benefits of choosing this selling avenue.
1. Close Fast with a Cash Offer
With cash offers, there’s no lender to deal with. In most cases, selling a house will take a month or more to complete.
When you accept a cash offer, it only takes about two weeks (or less) to close. During this time, all documentation is handled, and some buyers don’t even take this long to handle everything.
Since you aren’t dealing with a lender, you cut the time in half (or more).
By closing faster, you can move on with your life sooner too. This is one reason that so many people opt for this selling arrangement. You can check it out yourself to learn more about this benefit.
2. You Keep the Money
When you sell to a cash buyer, it means you don’t have to pay commission to a real estate agent. Besides that, the closing costs are waived.
Also, when you sell your home this way, you are not charged a fee by the cash buyer. When they agree to a selling price, the only thing you will have to repay is what you still owe on your mortgage (if anything).
The cash you get for the sale of your home is yours, no one else’s.
3. Minimal Chance of the Sale Falling Through
Because there is no chain when you sell your house for cash, there is also a minimal chance of the sale falling through.
You don’t have to worry about your bank deciding they will not offer a buyer a loan halfway through the process. You also don’t have to worry about a buyer getting cold feet about buying.
With a cash buyer, the sale can be handled in as little as a week. This means there are fewer things that may go wrong. It also gives you peace of mind the sale is going to happen.
4. No Appraisal Is Needed
If you sell your home for cash, you don’t have to worry about an appraisal. With most traditional sales, the person buying the house will work with a mortgage lender.
The goal will be to reduce the financial risk in case the buyer forecloses down the road. Because of this, the lender must figure out if the house is worth the amount they are lending.
Appraisals are used to figure out the value of the home. If the appraisal is low, then the mortgage lender may not finance the sale. This is one of the main reasons home sales fall through.
With a cash sale, there is no appraisal. That’s because there is no mortgage lender involved in the process. This takes a huge obstacle out of the entire selling equation.
5. Less Work Involved
All cash offers are usually less work than a more traditional offer that involves a mortgage and lender. This is one of the main reasons these sales happen so much faster.
With a cash offer, there are fewer people involved and less paperwork to file. One of the main time and money savers is that a cash buyer doesn’t expect the seller to make upgrades and repairs to the house before selling.
Many people who are willing to pay cash will handle the repairs and upgrades needed.
Many people begin offering cash for the purchase of a house to flip it and then resell it or rent it out. For people who need to sell, this is ideal since you can sell the house and property as-is in most cases.
6. No Need to Show Your Property or House
Do you really want strangers walking all through your house? If this doesn’t sound very appealing, then you probably don’t want to sell the “old-fashioned” way.
When you sell your house to a cash buyer, you can probably avoid having to show the house at all. That’s because the buyer will meet you at the house and decide if they want to make an offer.
No one else is involved, and the cash buyer will let you know what they will pay for the house and property right there.
Are You Interested in Selling a House for Cash?
As you can see from the information above, more than a few benefits are offered for those who decide selling a house for cash is the right option.
Just remember, it is up to you to put time and effort into finding the right buyer. Many companies offer this but take some time to learn more about them before contacting anyone.
Are you looking for more helpful information and guides? If so, be sure to read some of the other blogs on our site that cover topics like mindfulness, money, books, and more.