Selling a home can be a stressful and lengthy process, and may take longer than you may have anticipated. Some of the reasons the house sale may take so long to sell are that you have to find an experienced realtor, prepare the house for sale, follow the relator’s advice and wait for any prospective buyer to get their mortgage applications approved.
However, you could escape this tedious and time-consuming process if you decide to sell to a cash house buyer. If you have a need for quick cash, you won’t want to have to waste time preparing the property for showing, or if you lack the patience and time to put your home on the market and wait for a buyer, then accepting a cash offer may be the right idea for you.
Here are some of the advantages of selling to a cash home buyer:
You will incur fewer selling costs
As you may be aware, selling a home can result in numerous fees that will eat into the proceeds of the sale, leaving you with a smaller amount than you anticipated. Luckily, you can avoid some of these expenses if you decide to sell to a cash house buyer. For example, you can save on the real estate agent’s fee and repair costs because some cash buyers buy the home as-is.
You will close the sale faster
The traditional way of selling homes which involves hiring real estate agents, preparing the home for showings and the buyers giving offers and the seller accepting the best, takes time. Sometimes the process may run into several months—delaying your cash if you had an urgent need such as settling overdue debts or paying medical bills.
The good news is that you can get your money faster if you sell to a cash house buyer. The companies or individual investors who buy with cash have readily available funds and do not need to secure loans that would delay the sale. You can close the sale in as little as a month—or even shorter when you sell to a cash buyer. This means you can spend the cash to buy another home or for any other more pressing needs that you may have.
You don’t have to spend a lot of effort marketing
When selling your house to cash buyers, you don’t need to extend a lot of effort in marketing because there are many ways to help you sell your house. You can go online and find buyers who will value your house using online tools and make you an offer. You may also invite cash buying companies or individual investors to give you offers, or you can work with savvy realtors to connect you to cash buyers. You avoid spending a lot of time and money advertising your home if you choose to sell to a cash for houses buyer.
There are fewer risks of the sale falling through
It is quite common with the conventional home selling process for the sale to fall through. The buyer may change their mind, the financier may reject the loan application and many other things could lead to the sale falling through. Luckily, selling to a cash house buyer has fewer risks of this because the buyer has ready cash, and the process is completed faster.
You stand to enjoy many benefits when you sell to a cash house buyer, although you may not get the full market value for your property. The cash buyers offer less than the conventional sale process, but you can think of the difference in the amounts as the cost for quickly closing the sale and getting your cash.