Did you know that the median sale price of in San Bernardino County increased by 135% since 2011? This increase is substantially higher than California’s state average, which is 106%.
It’s no wonder that given its Southern California location and relative affordability, San Bernardino County home values are higher than ever.
If you are looking to quickly sell your home, you may be considering a home cash buyer—an investor or a new homeowner. Selling your home for cash can save you time, energy, and get you a fair offer in this competitive real estate market.
Just like listing your house on the traditional market, there are a number of common mistakes and missteps when selling your house for cash. Keep reading to learn how to save yourself time and money.
Setting the Wrong Price
The right home price always determines whether a house is going to sell quickly. When the price doesn’t match the house, any buyer will think twice.
It’s always important for someone to conduct a professional appraisal. This will help determine the current market price.
An appraisal will also give you an idea of the upper limit of your home price. It should be noted that when negotiating with a cash buyer, it’s unlikely to get the full market value of your house—because of the speed and convenience of the transaction.
It’s also important to remember that you are avoiding a number of additional expenses that accompany home selling. In California, this can include paying for an agent (usually 6% of the selling price), title insurance, escrow fees, and city and county taxes.
If you are looking to sell your home in a popular location, a hot market will positively impact the fair market value. For example right now, in San Bernardino Country the median listing price for a single-family home is $425,000.
Finding the Wrong Home Cash Buyer
While cash buyers can save you time, it’s important to choose the right buyer in your area. You’ll want to ensure that the investor you are working with can actually follow through on the deal they are offering.
Take time to do research. If they run a business in your local area, check with the local Chamber of Commerce, Better Business Bureau, and online reviews.
Cash buyers are extremely convenient because you don’t need to invest in listing your property, preparing marketing and photos, working with a realtor, or making extensive repairs. Ideally, they should also have a reputation in San Bernardino Country.
Doing research ensures no empty promises or failed deals. They should also be able to follow through on the speed and ease of a cash purchase.
Investing in Home Repairs
Cash buyers usually buy homes in any condition or situation. This means that it’s not a great idea to invest a lot of money on in-home repairs before selling it for cash.
It’s important to remember that cash home buyers purchase properties as-is.
Cash buyers are looking at your house as a good investment. They may renovate old floor plans or refresh the landscapes before deciding to resell. This includes houses that have structural damage, have been condemned, have been damaged from natural disasters, or even a problematic rental property.
There is no need to get your house sparkling clean. While it’s a great idea to do proper maintenance activities, simple repairs, and be transparent about outstanding issues, it’s not a good idea to invest a lot of money before selling your home to a cash buyer.
Forgetting to Create an Exit Plan
Selling a house can take anywhere from a few weeks to a few months. Cash home sales can close in a week or two. Cash home buyers can have cash available as fast as 24 hours after signing the papers.
This means that you should have a move-out plan. Once you contact a cash home buyer, expect the process to move relatively quickly. This is after all the biggest advantage of selling your house for cash.
After receiving a payment, you’ll have to move out and relocate as soon as possible. Before you seek out cash buyers, it’s important to be organized and have a plan to pack and relocate quickly.
Working With a Real Estate Agent
Choosing the right method to sell your home makes a difference to the bottom line. For example, if you are looking for a cash buyer it doesn’t necessarily make sense to list your property with a real estate agent.
When you hire a real estate agent, you’ll sign a listing agreement. This contract lasts for a set amount of time. That means that even if you find a cash buyer, you’ll still have to pay a commission fee.
With cash buyers, they’ll take full responsibility for your home—and take all the steps necessary to resell it.
Staying Emotionally Invested
Houses can carry a lot of emotional baggage, memories, and dreams. If you are planning to sell your home quickly, it’s important to approach the decision rationally.
Selling your house to a home cash buyer is a business decision. It’s important to think of your house as property versus your home. This will make it easier to detach and get the best deal possible.
Sell Your House Fast for Cash
With booming housing markets and new job opportunities across the country, there are so many great reasons to sell your home and relocate. If you are thinking about selling your house to a home cash buyer, today is a great day to start looking for a reliable investor.
If you are trying to sell your house for cash in San Bernardino County, we can help you sell your home fast and find a reputable buyer.
Contact us today to learn more about how we can put our local experience and expertise in California to work for you.