If you’re considering selling your home, you have a few choices.
First, you can list your home with a real estate agent. A real estate agent will list your house with an MLS on all major listing sites and actively seek buyers in your area.
You could also decide to sell your home yourself. It is often referred to as for sale by owner (FSBO). While you can save some money on agent costs, it can be tricky to market and requires a significant time investment.
Last, another option that’s gaining more popularity is to sell your home for cash. Selling your home for cash can be a great option for home buyers. So if you got here by Googling, “sell my house for cash,” this post is for you.
Continue reading to learn about the many benefits of selling a house for cash. That way, you can decide if it’s right for you.
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What Does It Mean to Sell My Home for Cash?
When most people think about selling their home for cash, they think of a slick person handing a briefcase full of money to a buyer. While this is pretty cool, that’s not what it means to sell your home for cash.
Instead, selling your home for cash means that the buyer decides to buy your home without going through a mortgage company. Therefore they cover 100% of the cost of the home.
While that sounds a little less flashy and cool, we assure you it’s no less powerful. So if you’re in a position where selling your home on the open market doesn’t make sense, selling your home for cash can be a great opportunity for you and your family.
Here are a few instances when selling your home may make more sense:
- Your home is in danger of foreclosure
- You’ve experienced a life change (divorce, death of a loved one, etc.)
- Your home is in such disrepair that it doesn’t make financial sense to repair it
If any of the above situations sound familiar, you may be a good candidate to sell your home for cash. However, despite being a great opportunity for families in difficult financial situations, it also offers many benefits. Here are a few benefits you can receive when you sell your home for cash.
You Can Sell Your Home As-Is
One of the many appealing benefits of selling your home for cash is that you can sell your home in “as-is condition.” Selling your home as-is relieves the seller from having to worry about making costly repairs to their home to sell it.
Even if your home doesn’t require any costly repairs, many homes become too outdated for new real estate trends and standards. Selling your home as-is relieves you of the duties of remodeling your home to attract buyers.
The potential cost savings to not have to remodel or make costly repairs could be enough to make selling your home for cash an attractive option.
You’ll Sell Your Home Faster
It takes 46 days on average to close on a home with an agent. Selling your home for cash can save you tons of time! The average time it takes to close on a house with a cash offer is two weeks!
That can be especially appealing for families who may have inherited a home or need to sell the house quickly. Additionally, because you don’t have to worry about agents, there are some potential cost savings.
While you can wait months to get an offer on your home with an agent, it’s not uncommon to receive a cash offer within 24 hours when you sell your home for cash.
Please read this useful guide on how to sell your home in five days to learn more about the process.
No Contingencies
During the typical home-selling process, there are often contingencies that can hold back the sale of your property. However, that isn’t the case when you sell to a cash buyer.
That’s because many cash buyers are real estate investors with years of experience. They understand the ins and outs of the home buying process and look to make it easier for the seller.
A typical buyer may ask for a home inspection which can stall the home selling process in its tracks, if not void a deal. Conversely, cash buyers tend to buy a home in its natural condition and then make repairs if needed. That’s because most cash buyers purchase a home for cash as an investment to make more money when they resell it.
No Need to Worry About Marketing or Showings
With typical home sales, especially if you’re selling the home by owner, many marketing issues to worry about. Not only that, but you have to keep your home ready for showings.
That can sometimes require you to put some of your prized possessions in storage along with hiring a staging company to create a home that’s staged to sell. But, on the other hand, think about the cost savings of never having to worry about all the marketing, showings, and staging fees you would have to pay for a sale.
When you sell your home to a cash buyer, you’ll have the peace of mind in knowing you never have to worry about marketing or showings.
Reduces the Stress Common With Selling a Home
Let’s face it! Selling a home can be a complicated and stressful process for home sellers. However, when you choose to sell your home through a cash buyer, it can reduce some of the stress of selling a home.
For instance, you won’t have to worry about:
- Agent fees
- Home appraisals
- Home inspections
- Extended closing times
- Buyers backing out of a sale
Instead, you can feel comfortable knowing that you never have to worry about any of these common stressful issues.
Selling Your Home for Cash: Are You a Good Candidate?
If you’ve been Googling “how to sell my home for cash,” you may have some questions. By using the useful guide above, you can decide if you’re a good candidate.
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