There’s a huge gap in the real estate industry. People have a million reasons to sell their homes but only a few options for doing so. The good news is, there could be one more method to consider – selling to a cash buyer.
Different things may motivate people to sell their homes, but here are the top five reasons they might want to do it for cash:
You enjoy more flexibility.
When selling a house mainstream, you typically have limited options. On the other hand, cash buyers offer more flexibility. After all, these aren’t families wanting to settle into a house. These are profit-seeking investment companies. That means they can give you more leeway for your particular circumstances.
You need not pay for repairs or renovations.
You wouldn’t believe what mainstream sellers usually need or go through before finally finding a buyer. For broken bathroom mirrors to roofing breaches and more – everything must repaired or the potential buyer may not get their bank financing, even if the price is lowered. When you sell to a cash buyer, you sell as-is. You can forget about repairs and renovation because now, that is their responsibility. Just receive your cash and move on.
You need not pay any commissions, fees, or contingencies.
In a typical house sale, the offer you get isn’t the exact amount that ends up in your bank account. You need to factor some costs, the biggest of which is the agent’s commission. When selling to a cash buyer, the offer you hear them make is the actual amount you will receive. It may not be as much as a conventional buyer’s offer, but it usually evens out after you factor in the repair and renovation costs.
You don’t worry about a buyer falling through.
After weeks or even months of entertaining inquiries and opening up your house to potential buyers, you finally find someone who seems to be the perfect one, until the bank decides not to give them their loan. Now you’re back to square one, and your house is literally lingering in the market, which is bad for future prospects in any case. A nightmare scenario it is. With a cash buyer, this is hardly ever going to happen. These are investors you’re dealing with, and they can pay you upfront, provided all is agreeable to both sides.
The closing date is for you to choose.
Finally, when you sell a house traditionally you don’t really have any control over the closing date, which can be a burden if you want a fast sale. A cash buyer, however, lets you decide when you want to close. Two weeks? Perhaps one if there are no technical impediments to the sale. Believe it or not, they can accommodate the most aggressive timelines.