Selling a house can be a long and time-consuming process. Contacting a real estate agent and putting a place on the market means waiting for months for a potential buyer to become interested in the property and make an offer.
After getting a reasonable offer, home sellers need to wait for the buyers to arrange financing from the bank to buy the property. This can take weeks, and many deals fall through because buyers aren’t approved for bank loans.
Today, we’ll discuss why it’s better to sell your home for cash.
1. Selling A Home for Cash Speeds Up the Timeline
The biggest benefit to selling a house for cash is that the deal is closed in a short amount of time. The home seller doesn’t need to host open house viewings to attract potential buyers or wait for a realtor to look at the house.
Hence, if a homeowner wants to get rid of a property quickly due to an impending divorce, a personal or family emergency, downsizing, etc., they can accept a cash offer on their house and get the property sold within a few days or weeks.
2. Cash Offers Are Simple and Easy
Another advantage to receiving and accepting a cash offer on your house is that the process is easy and free of unnecessary, stress-inducing hassles. The process of selling a home for cash includes calling the cash home buyer and giving the basic information about your property.
Then, the buyer usually looks up the estimated value of your property and the surrounding properties in your neighborhood to decide on a fair offer. They might come to visually inspect your property and make you an offer right afterward or call you within a day or two.
After you receive an offer from them, you can decide if you find the price acceptable, and the deal can be closed within a week with the cash in your pocket.
3. Home Sellers Save Money with Cash Offers on Their Property
Selling your home for cash will end up saving you money in the deal. Firstly, cash home buyers don’t usually ask for a commission fee or broker fee. These closing fees are standard for real estate agents and cut into your profits from the sale.
Thus, with a cash offer, you keep all the money from the deal, and this saves you thousands of dollars in extra fees paid to real estate agents.
Also, cash offers on your property mean you don’t need to spend a large sum of money cleaning or repairing your house so that it looks presentable and attractive to potential buyers.