Around 12 million American homeowners plan to sell their property in the next year.
Putting your home on the market is stressful from crafting the ultimate listing description to choosing potential buyers. Luckily, it’s possible to streamline the buying process by selling your home for cash.
Not convinced? Then stick around and find out the benefits of choosing cash buyers over traditional sales. Here are the seven top advantages to consider.
- You Choose the Closing Date
One of the best benefits of cash buyers is you have total control over the process including the closing date. When you sell through an agent, they create a contract that says when to close which is problematic if you want to sell your home quickly. But once you choose a cash sale, you can sell your home within weeks.
Further, there’s more room for negotiation. Although it seems too good to be true, these investors buying homes want to make an offer that benefits both parties especially because they have a reputation to maintain. As a result, it’s possible to end up with a fantastic deal.
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- No Repairs Required
Often when you sell your property on the market, agents ask to make a long list of repairs so you can score a better deal.
This can include massive payouts like fixing the house’s foundation, roof, and dealing with septic issues. And if you don’t do these, then the bank won’t finance the buyer even if you offer a large discount.
But when you negotiate with home investors paying in cash, you need not worry about getting less money because of the property’s appearance, instead, they focus on the value.
- Easier to Sell Vacant Properties
Usually, we buy homes that have been recently refurbished or at least feature furniture so you have a better idea of what a lived-in home looks like. But if you don’t want to spend a fortune on home staging then consider cash buyers because they’ll happily snap up an empty property.
Another advantage is you don’t have to host open days where groups of strangers traipse through your home every week. Plus, you’ll have to go the extra mile so it looks warm, inviting, and spotless even though you’ll be moving out shortly.
With cash buyers, however, most deals happen after a quick meeting and several phone consultations.
- No Hidden Fees
When a buyer gives you an offer, you don’t take the actual number because you have to consider the additional fees. These include an agent’s commission and buyer’s fees like an appraisal.
Homebuyers may also ask for contingencies before signing a contract. Sellers don’t have to agree but you risk losing the buyer and prolonging the selling process, not ideal if you’re in a rush. Instead, choose a cash buyer because it’s instantly deposited in your account without any nasty surprises.
And if the property did need repairs then you’ve made more than with a traditional sale.
- Don’t Have to Worry About Financing
One of the worst-case scenarios is meeting the dream buyer that asks for no contingencies but, at the very end, they can’t find a bank to finance them.
As a result, you have to keep your property on the market for a long. No one wants to be in this position which is why cash buyers streamline the process because they don’t need to secure financing.
- Gives You Freedom
A recent study found that 77% of Americans who sold their home in the last year found the experience stressful. Luckily, when you choose cash buyers it’s a quick, painless transaction compared to regular sales.
Most importantly, a cash deal lets you move out from your home on your own time and terms. And it’s far easier than a traditional sale because all it starts with a simple phone call. Talking with the cash buyer lets you cover basic information about the property and the type of offers you’re interested in.
After this, the buyer may look at your neighbor and consider your property’s value before making an offer. In the best-case scenario, buyers may give you an offer on the spot or within 24 hours of taking a tour around the property.
Plus, in some cases, liquid cash is essential for many sellers whether it’s because they’re in a bad financial situation, emergency, or selling their property after a divorce settlement is reached.
- Fewer Sales Fall Through
Aside from financing issues, traditional sales may fall through because the buyer found a different property they prefer or may not want to move after all. And despite how frustrating this is, you don’t have the power to do anything. But when a buyer pays in cash, you have nearly total security that the sale will go through.
That’s How You Start Selling Your Home For Cash
Now you know the benefits of selling your home for cash.
The beautiful thing about cash buyers is you don’t have to splurge on multiple repairs, home stage your property, and wait months for the deal to come through. Cash home investors want a quick process so you needn’t worry about agent fees, financing issues, and choosing a closing date way into the future.
Instead, sell your home within weeks and receive the money instantly. Happy selling!