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 might be another avenue to consider – selling their house for cash.
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. 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 don’t have to spend for repairs or renovation.
As you might have heard, traditional house sellers go through a lot just to sell their property. 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. Receive your money and then move on.
There are no fees, contingencies or commissions to pay.
In a typical house sale, the offer you get isn’t the exact amount that ends up 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 big as a typical buyer’s offer, but in most cases, it turns out to be a fair, if not great, deal once you’ve removed the money you would have paid for repairs and renovation.
A cash buyer never falls through.
After weeks or months of inquiries and open houses, you think you’ve finally found a really serious buyer, until you learn that the bank rejected their financing 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. When you sell to a cash buyer, however, this hardly gets a chance 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.
You determine the closing date.
Finally, selling through an agent doesn’t give you much control over the closing date, which can be a huge setback if you are aiming for a quick sale. With a cash buyer, however, 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.