There’s a huge gap in the real estate industry. People have different reasons for selling their homes but have only a few channels to do so. The good news is, there could be one more method to consider – selling to a cash buyer.
Different people have different motivations for selling a house, but here are the top five advantages of doing it for cash:
You have more freedom.
When selling a house mainstream, you typically have limited options. Cash buyers, on the other hand, can offer as much flexibility as you need. Besides, these aren’t families looking to settle into their new home. These are investors aiming to earn a return. That means they can work more around your particular circumstances than a traditional buyer can.
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. 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. Selling to a cash buyer is selling as-is. You can forget about repairs and renovation because now, that is their responsibility. Just take your payment and move on.
There are no fees, contingencies or commissions to pay.
In a conventional house sale, the offer you receive isn’t the exact amount that lands in your bank account. You need to factor some costs, the biggest of which is the agent’s commission. When you sell to a cash buyer, the offer you get is the final number. It will probably be lower than a conventional offer, but considering the costs of repair and renovation, it often turns out to be a pretty fair – if not advantageous – deal.
You don’t worry about a buyer falling 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 return to the drawing board with your house technically lingering in the market, which doesn’t look good regardless. A nightmare scenario it is. With a cash buyer, this is hardly ever going to happen. These are businessmen or investors who want and have the capacity to pay upfront, as long as all details are agreeable to you both.
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. With a cash buyer, however, you decide when you want to close. Two weeks? Without any technical obstacles, maybe one. Believe it or not, they can accommodate the most aggressive timelines.