In 2018 alone, more than 5.34 million homes found new owners. Many of those homes sold the traditional way: through financing and an extensive closing process.
Believe it or not, there’s another way to get rid of your home: selling it to a cash home buyer.
The process is different than selling it the traditional way, but there are a few surprising pros to a cash sale. Here are just a few of the top benefits you can expect.
You Don’t Need to Prep the Home
Cash homebuyers don’t expect you to properly stage the house or take care of costly maintenance issues. They look for homes for sale as-is.
This means you won’t have to worry about getting an inspection or deciding whether it’s worth it to spend thousands of dollars to replace the roof. The cash buyer will handle those repairs after they buy the house.
Sales Happen Faster
If you’re constantly scouring the internet for tips on “selling my house fast,” selling to a cash home buyer is the best option.
The standard closing process can take as long as a month before you receive the money you need. That’s on top of waiting for the right buyer to come along.
When you choose to sell to a cash buyer, they’re ready to buy the house immediately. You could get your money in just a few days.
You Won’t Split the Profits with a Real Estate Agent
When you work with a listing agent and put your house on the market, they receive a portion of whatever the home sells for. This can eat into your profits and make it harder to get into a new home when you’re ready to buy.
Though you may sell your house for less when you sell it for cash, you keep the full amount. You can use that amount however you need to without worrying about unexpected fees and high costs.
Sales Rarely Fall Through
When you sell your house to a regular homebuyer, the sale will only go through if they get approved for the mortgage. Unfortunately, you have no way to know if the buyers will get approved or if the sale will fall through at the last moment.
If it does, you’ll have to start the process over again.
When you sell a house for cash, the buyer has the cash ready to go. This means the sale likely won’t fall through and you’ll be able to get out of your home when you need to.
Is Selling to a Cash Home Buyer Right for You?
Working with a real estate agent and selling your house the traditional way can get you a higher sale price. However, you’ll have to get the home ready for showings and wait for a qualified buyer to come along.
Selling to a cash home buyer will give you a fast and convenient way to get out of a home you no longer want. You may get a lower price, but you’ll save yourself time and stress in the process.
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