Did you know that on average, 25% of all today’s home sales in the U.S. are made in cash? That number rises frequently, depending on the state of the market. Although cash sales weren’t always so popular in the real estate industry, more sellers are realizing the many benefits of getting cash for homes. Let’s take a look at four of those benefits and dive deeper into why someone would choose to sell to home investors in exchange for cash.
You Can Set the Closing Date
In a typical home sale, the seller doesn’t have much influence over what the sale’s closing date will be. In fact, even under the most ideal conditions, it takes an average of 65 days to sell a home. These two months are typically spent finding a buyer, negotiating prices, and waiting for the buyer to get approved for a loan.
In a cash sale, you can skip all of these steps. By getting cash for homes from professional house buyers, you don’t have to spend time trying to sell your home on the real estate market. They also won’t haggle over the price of your home with you. They will make an offer based on the current condition of the property and you will have the choice to accept or decline the offer. Since they’re paying in cash, you also don’t have to wait for them to get approved by a bank or lender.
By choosing to get cash for your home, you can essentially choose the closing date. If you need to sell and close on your property in two weeks, a cash buyer can help make that happen. You’ll be rid of the property and free to move on with your life.
You Can Avoid Fees, Commissions, and Contingencies
It may seem counterintuitive, but selling a home in the traditional way costs you money. Once a buyer makes you an offer, you will typically need to deduct the closing fee and your real estate agent’s commission from that number. Buyers will also often put in contingencies, such as replacing the roof or updating the plumbing, that you need to fulfill before the sale is finalized.
All of those fees add up and result in you getting less than what you deserve from the home sale. When you work with a home investor who offers cash for homes, you can skip right over these extra charges. You won’t need to work with a real estate agent who needs a commission at the end of the sale and the home investor will take your house as-is. You won’t need to put it in any of the money or labor to fix up the property before selling it.
You Can Have More Flexibility
When it comes to the terms of the sale, you’ll have a lot more flexibility when you sell to a cash buyer. You will be able to set more of the terms and have the buyer meet them, rather than you having to meet the buyer’s terms. A traditional buyer who has to think about moving into a home with their family or has their own financial concerns is usually not as flexible on the terms of the sale.
Whether your home is at risk of foreclosure or you’ve inherited a property and just need to sell it quickly, home investors are willing to work with you to get you the best possible price for your property. They aim to do this with as little hassle as possible, no matter what your circumstances are.
You Can Have Better Sale Security
A traditional sale can fall through for any number of reasons. The buyer may find another property they like better, realize they don’t have the funds to buy your home, or simply change their minds. Whatever the reason is, the buyer is able to pull out of a sale at any time before they sign the dotted line.
When you work with a professional home investor rather than an individual looking for their dream home, you’ll have much better sale security. House buyers that offer cash for homes don’t run into trouble with not having enough money or back out of a deal because a property needs repairs. When you sell to cash buyers, you have almost total security that the sale will go through.
If you’re looking to sell your property on your terms in a short amount of time, selling to a house buyer that offers cash for homes may be the right option for you. You’ll have more flexibility and security while still getting the money you deserve for your property. Contact Problem Property Pals today to learn more about selling your home for cash.