30 Jan Show Me the Money! The Advantages of Selling Your Home to a Cash Buyer
It’s estimated that one out of every four homes is sold to cash buyers. This is a trend that has continued over the past several years.
While this is true, you may still wonder if selling to a cash buyer is right for you. Keep reading to learn about the many benefits of selling your house for cash here.
How Does it Work?
It doesn’t matter where you are trying to sell your home, the process of selling your home to a cash buyer is usually the same.
In most cases, it begins with a phone call. This allows the buyer to gather some basic information about your home. In most cases, the company will do a bit more research into the neighborhood to determine an offer price.
Once all the information has been collected, you will receive an estimate of what a buyer may be willing to pay for your home. If you are happy with the price offered, then the buyer will likely come to see the house in person.
After the visit, the sale can move forward. In most cases, the closing will occur at a lawyer’s office. This provides a higher level of clarity and protects everyone’s best interests.
Finding the Right Cash Buyer
Due to the popularity of cash for houses sales, there are more buyers than ever before. As a result, it’s up to you to do a bit of research to find the right one.
When searching for a buyer, be sure to watch out for the following “red flags:”
The Company’s Reputation
Be sure to check out the buyer’s reputation before moving forward. If they have significant negative reviews or any disciplinary actions against them, then you should keep looking.
It’s important to make sure that the buyer you are working with a company that is registered with The Property Ombudsman and that it is adhering to the Code of Practice.
Buyers that Don’t Want to See the House
There are some buyers who may claim they don’t want to see the house before buying it. This is a tell-tale sign of a scam artist. Don’t move forward with the sale.
Buyers Who Only Communicate Via Email
It’s common to speak with a buyer on the phone. However, if the buyer only wants to talk to you through email, it’s another red flag that you may not be speaking with a credible company.
Now that you know what to watch out for, it’s a good idea to find out the benefits of working with a legitimate cash for houses buyer.
Fewer Sales Will Fall Through
When you opt to sell your home for cash, it will eliminate the process of accepting offers and losing a buyer at the last minute when they are unable to qualify for the loan. After the cash transfers hands, there’s no cold-feet, or backing out.
There are quite a few fees associated with selling your home the traditional way. One of the biggest is the commission that you pay the real estate agent.
If you sell your home to a cash buyer, you can avoid paying a commission to the real estate agent. You also avoid paying for inspections, appraisals, closing costs, seller concessions, property tax, insurance, and anything else.
You May Receive the Option to Rent
Something that is great for cash buyers, is that they may think of different ways to earn a profit, besides just reselling the home they purchased from you. For example, they may allow you to rent it, which means you don’t have to find another house to move into.
This is typically a very convenient option, especially if you have children. It allows you to avoid foreclosure but avoid having to move.
Ability to Sell the House As-Is
In some situations, your house may have several issues or repairs that need to be made. This can be quite expensive.
The cost of serious repairs, such as fixing the plumbing or replacing the HVAC system can be extremely costly. Also, these repairs can present quite the hassle.
However, when you sell your home for cash, it’s an “as-is” sale. The cash buyer is going to handle everything for you.
The Speed of the Sale
Rather than waiting for someone to make an offer on your house and hoping that everything goes through, selling for cash is a much faster option. After the cash offer is accepted, you can get the money within a few days, rather than several weeks that conventional sales often take.
If you are facing some type of financial hardship, or you have to sell your home quickly to relocate, how quickly you can get your money is essential.
When you decide to sell your house for cash, you can get the money you need to avoid financial issues.
Selling your home for cash, all the parts of the sale are going to be managed by the person making the purchase. You don’t have to worry about staging the home, or having people come in and out. There’s no wild cards or red tape – just a stress-free, speedy sale.
Does Using a Cash Buyer Make Sense for You?
If you are considering selling your home, then be sure to think about all the benefits of using the services of a cash buyer. In many cases, this is going to be a preferable option.
For more information about selling your home to a cash buyer, or to begin the process, contact us. We are here to help ensure you get a fair price for your home, regardless of condition or location.