It's a home truth that selling a house can be fraught with complications. Thankfully, you don't have to make the process harder than it needs to be.
Finding someone who'll buy your home outright and for a fair price has just become a whole lot easier. You'll soon be able to flash the cash. Want to find out more? Read on to discover why selling houses for cash is the way to go.
1. No Lenders Involved
Around twenty percent of recent residential sales were all-cash transactions. The majority of the buyers were investors.
Think of selling your home to an investor as being a little like trading in your car to a dealership. Of course, you could sell your car privately. If you do though, there'll be work involved in marketing and potentially carrying out repairs.
It may just be easier and faster to take your vehicle to a specialist dealer. Selling your home to a cash buyer works in a very similar way.
Those who buy houses for cash will tend to buy your home outright without lender financing. Selling your home for cash can also mean you can avoid any home prep, showings, and the stress and expense of staging.
You're also more likely to be able to fix a closing timeline that coincides with the purchase of your next home.
2. Avoid Expensive Repairs
Some investors will purchase homes and then convert them into rental properties. They will include investors who buy and rent out properties for a regular income. Some companies exist with the sole purpose of doing this.
House flippers will buy homes, often in a poor condition and at a lower price. They'll then renovate them and sell them on for a profit.
Next, there are companies who will make competitive offers on residential homes that are often in better condition. Their business is more geared to turning over a high volume of homes using technology to streamline operations.
This can be a great choice for owners who've inherited an unwanted property, are behind on payments or can’t sell their home. It avoids the need for repairs that you may not be able to afford.
It's quick, hassle-free and you won't even need to clean up the house before you sell it. You can find out more about this kind of sale on this site.
3. No Traditional Agents
For many sellers, their top priority will be to achieve the highest price in a sale. Agents can certainly help a seller get their home staged and ready for the market.
It could be that a fast or certain sale is your highest priority, however. You may not have the time to sit and wait for the chance of getting a better price for your home. This is the time to consider a cash sale.
You'll still be able to compare and contrast. That means weighing up what you'll make with a cash sale and what your house could go for on the open market with the help of an agent.
4. Avoid 'Back-Out' Clauses
These types of clauses can often work in favor of the buyer but can be a major headache for a seller.
The fine print could say something like an offer is only valid if the buyer’s current home sells within two or three months. Any offer may be conditional on relevant inspections or on the buyer's lender approving their loan.
If you’re selling your home to an investor, you may be able to avoid these types of conditions. These requirements could hold up the sale or lead it to it falling through altogether. That's precious time wasted.
5. Easier Financing When Selling Houses for Cash
The reason home sales can sometimes take a long time is that there are lenders involved. They will have their own procedures to follow in order to mitigate risk.
These can often be cumbersome and time-consuming. The priorities you may have to sell your property may not be high on their agenda if at all. Cash purchases will close more quickly because they won't involve any lenders at all.
6. Make It Easy on Yourself
Many people find moving house more stressful than divorce or starting a new job. It should be an exciting time.
When you have a cash buyer, you'll have someone who's interested in buying your home right from the start. That means you don't need to worry about hiring a professional photographer or dealing with marketing strategies.
When you call an investor, they may ask you some questions and then make you an offer. You're not obliged to accept it but, if you do, you could close the deal within a week or two.
This can be very attractive in the event of a job relocation or other sudden life change. The alternative could be to rent your property out but that can be risky and involve a lot of headaches along the way.
7. Sales Are Less Likely to Fall Through
It's not unusual for buyers to pull out at the last minute and for a sale to fall through. This can be exasperating, especially if you're in a hurry to sell.
A regular private buyer could have all kinds of issues that you may not even be aware of. They may need to sell their house before they buy yours. They may think they have a buyer but that could fall through.
They could have a sudden change of heart or an unexpected life-changing event. If you’re working with a reputable cash home buyer, you won’t have to worry about them pulling out of the deal at the last minute.
You'll also bypass all of those closing and realtor fees that come with a traditional sale. That means you get to keep all the money the buyer offers you for your home.
Selling houses for cash is the best way to move on quickly. It's hassle-free and avoids many of the complexities that can crop up with a regular sale.
Continue reading our 'For the Home' section for more related articles.