Last year, more than 25% of homes sold across the country accepted all cash offers. This is a huge change in the market and something that previously hasn’t been seen as often as it is now.
Many sellers are wary of a cash offer for a variety of reasons. But finding a cash buyer for your home can make the entire process so much smoother and simpler for you. There are so many aspects of selling a home that can be confusing and overwhelming to try to keep track of, this doesn’t have to be one of them!
We’ve put together a list of the top seven reasons selling for cash is beneficial for you!
1. Ability to Sell As-Is
One of the more stressful aspects of selling your home is going through the appraisal process and figuring out what you have to fix before the sale will go through. When you decide to go with a cash buyer, you can often sell the home as-is and skip all of that.
When you’re going with this more untraditional way of selling, you get more opportunities to make the rules and decide what you do and don’t want to do. Many homeowners choose to do a cash sale when they know their home has many projects that need to be done but they aren’t willing to go through that process.
A cash sale is a great way to move on from all of the problems in your home!
2. Less Time to Closing
Because you can eliminate so many of these traditional parts of a real estate transaction, a cash sale will close much quicker than a financed one. In fact, you can often choose the closing date yourself for whatever works best for your schedule.
In a traditional sale, you have to wait around for the potential buyer’s financing to be in order and approved by their lender. Then you have to work around your real estate’s schedule availability. Not to mention the buyer’s agent as well. There are so many moving parts, it can sometimes extend your timeline extra weeks if you’re not careful.
Cash sales move as quickly as you want them to with much less hassle.
3. More Confidence in the Offer
Essentially, when someone makes you a cash offer on your home they’re saying that they have the money available and ready to pay you as soon as you’re ready. When your buyer is having to go through the financing process to get a loan to purchase your home, there’s no guarantee it will go through.
So many home sales have fallen through at the last minute because of financing problems. When you accept a cash offer you can feel confident that the sale is more likely to go through without any additional problems.
4. Reduces Stress
A big part of the home selling process is doing showings to potential buyers so they can walk through and decide if it’s a place they could see themselves in. This means you have to get your home looking presentable, as well as clearing your schedule to be available when a showing is requested.
This whole process of preparing your home and keeping it that way can be extra stressful for you. Accepting an as-is, cash offer allows you to skip that whole part and eliminate your workload.
5. Affordable Selling Option
If you’ve never gone through the sale of a home before, you’ll likely be shocked to know that it actually costs you money to finalize the sale! As the seller, you’re responsible for covering the costs of repairs, home inspections, closing costs, real estate agent’s commissions, and sometimes additional taxes.
All of those things can add up quickly and make it difficult to follow through with the sale.
In the case of a cash sale, you can avoid many of those expenses. Some homeowners even get out of paying anything all!
6. Quicker Negotiations
A frustrating aspect of selling a home in the traditional sense is the negotiation process. This is where the potential buyer comes to you with a price they’d like to pay for the home, then you counter their offer with what you’d change about it.
This process can go back and forth many times until an agreement has been reached. But there’s no telling how long that process can take, especially when you factor in all communication going through third parties. When you’re dealing with a cash offer, negotiations are generally much shorter than through the traditional route.
All you’ll have to work out is accepting the offer and transferring the money to your account. Then everyone can move on!
7. Work with Experienced Buyers
Generally, those potential buyers who are putting in a cash offer aren’t first-time homebuyers. They’re more likely to be experienced investors who are looking for another project for their portfolio.
This is beneficial for you because they’ll have a good knowledge base surrounding the local market and how home sales work. Their expertise can help move things along and keep the sale on track. It’s also likely that they won’t be trying to undercut you by making too low offers you’ll have to reject.
Having all parties on the same page makes the whole process go through much easier!
Reasons to Consider Accepting a Cash Offer for Your Home
Selling a house and moving to a new one is almost always a stressful experience because there is so much to be done and a lot of unknowns ahead. Accepting a cash offer can take a lot of that stress away in an instant!
You can be more in control of the situation and your plan forward when you decide to go this route. There’s a lot less waiting around on other parties to do their part, which makes planning and executing your move much easier. Not to mention all of the other amazing benefits!
If you have a home to sell and are interested in getting a cash offer quickly, contact us today!