There is a wide gap within real estate. People have different reasons for selling their homes but have only a few channels to do so. The good is that another avenue could be worth consider – selling for cash.
Different things may motivate people to sell their homes, but here are the top five reasons they might want to do it for cash:
You enjoy more flexibility.
When selling a house mainstream, you typically have limited options. Cash buyers, on the other hand, can offer as much flexibility as you need. After all, these aren’t families wanting to settle into a house. These are investors aiming to earn a return. That means they can work more around your particular circumstances than a traditional buyer can.
You don’t have to spend for repairs or renovation.
You wouldn’t believe what mainstream sellers usually need or go through before finally finding a buyer. For broken bathroom mirrors to roofing breaches and more – everything must repaired or the potential buyer may not get their bank financing, even if the price is lowered. When you sell to a cash buyer, you sell as-is. You can forget about repairs and renovation because now, that is their responsibility. Just take your payment and move on.
You need not pay any commissions, fees, or contingencies.
In a mainstream house sale, the offer you get isn’t the actual amount that arrives in your bank account. There are costs to consider, such as agent commissions, inspection fees, appraisal fees and so on. When selling to a cash buyer, the offer you hear them make is the actual amount you will receive. It will probably be lower than a conventional offer, but considering the costs of repair and renovation, it often turns out to be a pretty fair – if not advantageous – deal.
You don’t worry about a buyer falling through.
After weeks or months of inquiries and open houses, you think you’ve finally found a really serious buyer, until you learn that the bank rejected their financing application. Now you’re back to the drawing board, and your house has been on the market longer, which isn’t good regardless. Yes, it’s a nightmare scenario for every house seller. When you sell to a cash buyer, however, this hardly gets a chance to happen. You’re dealing with investors who have the money to pay off the bat, as long as everything is agreeable to both parties.
You determine the closing date.
Finally, selling through an agent doesn’t give you much control over the closing date, which can be a huge setback if you are aiming for a quick sale. A cash buyer, however, lets you decide when you want to close. Two weeks? Maybe one if there are no technical impediments. Believe it or not, they can work around the most limited timelines.