There are a number of reasons it may make sense to sell your home for cash.
Among them, one perceived benefit is that a home-for-cash sale tends to seem extremely simple. What could be easier than simply exchanging property for the entirety of the agreed-upon sum?
However, this is only true if you understand what your two main options are and what they entail.
The Best Option if You Want to Sell Your Home for Cash
Home sellers accepting cash for their homes isn’t a new phenomenon. Last year, cash sales accounted for 20% of all home sales in the U.S. That’s no small amount. So, if you’re looking for a cash deal, you should have no problem receiving offers.
That said, they will generally fall into one of two types.
Selling Your Home to a Private Buyer for Cash
The first option is to sell to a private buyer. This is someone who either wants your home to live in or plans on “flipping it” for a quick profit in the near future.
As long as they meet your desired price, there’s nothing wrong with selling to these private buyers. Unfortunately, their one-person business model usually means they can only offer the smallest amounts.
Each buyer will have their own process, as well. Keep this mind, because it might mean you have to wait weeks before they’re able to complete the purchase.
Selling Your Home to a Real-Estate Firm for Cash
That’s why your second option is usually much better: a professional real-estate firm. Companies like ours specialize in cash sales, which means we always have large sums on hand. Our sellers never need to wait around while we collect the necessary funding, as is often the case when dealing with personal buyers. In fact, we can offer you cash the same day we view your home.
Therefore, if you decide to sell your home for cash this way, all you need to focus on is deciding when you can move out by.
If you need to sell your home for cash because of pressing financial concerns, you might be dealing with an impending deadline. Otherwise, the biggest factor to consider is when your next home will be ready and if you have any time-consuming tasks to handle beforehand (e.g. holding a garage sale for items you no longer want).
Looking to Sell Your Home for Cash Right Away?
Whether you’re ready to sell your house for cash right now or you need a little time to plan for your move, we’d love to hear from you and would be more than happy to answer any questions you might have.