There’s a huge gap in the real estate industry. People have countless reasons for selling their houses but very few options for making it happen. The good news is, there could be one more method to consider – selling to a cash buyer.
People can have different motivations behind selling their homes, but here are the top five reasons to do it for cash:
Investors offer more flexibility.
When you sell a house traditionally, you usually only have three or four key options. Cash buyers, however, can give you total flexibility. After all, we’re not talking families needing to settle into their new abode. These are investors aiming to earn a return. 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 conventional sellers go through just to sell their properties. From broken door knobs to septic issues and everything in between – all must be fixed or the bank won’t issue financing for a potential buyer, even with a discounted price. With 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 mainstream house sale, the offer you get isn’t the actual amount that arrives in your bank account. There are costs to consider, such as agent commissions, inspection fees, appraisal fees and so on. With a cash buyer, you get the exact offer made, period. 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.
Cash buyers rarely – if at all – fall through.
After weeks or even months of talking to prospective buyers and showing them around your house, you finally find someone who seems heaven-sent, until the bank declines their loan application. 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. Yes, it’s a nightmare scenario for every house seller. 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.
Lastly, a traditional house sale will not give you much control in terms of the closing date, which can be a pain if you want to sell fast. With a cash buyer, however, you decide when you want to close. Two weeks? Maybe one if there are no technical impediments. Mind you, they can accommodate even the most ambitious timelines.