4 Advantages of Getting Your Home Sold to a Cash Buyer
Looking to get your home sold quick? Looking to make a profit on your home?
You should consider selling your house in a cash-only process. Compared with using a real estate agent or going “for sale by owner” you may be able to save tons of money. Of course, only you know what is best in your given situation.
The traditional route feels safer for many people, but getting your home sold in a cash sale can result in a higher payoff with less hassle and less paperwork.
Ready to find out the major benefits? Keep reading!
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1. Keep All the Cash
No doubt you have seen many ads saying “we buy houses with cash,” wondering if it’s legit. Yes, it is, and you do get to keep all the cash for yourself unless you’re using a real estate agent. If you bypass the agent altogether, you can save their typical 6% commission.
The only thing you’ll have to pay is the rest of your mortgage. The sale price is usually lower than with a mortgage, but you’ll net more cash at the end by avoiding all the fees.
2. Sell the Home As-Is
Yep, you can sell it as is without any updating or renovation. Actually, renovating a home can detract from cash buyers since they’ll likely change everything to suit their own aesthetics and style.
The only thing you’ll need to do is take out your personal items. Some cash buyers even buy the furniture if they’re going to invest in it as a rental property. They can then turn around and rent it as a furnished apartment or home.
If you’re renovating and showing your home, you’ll have to take out your personal items anyway. The difference is that you don’t need to waste money on making it look like a model home.
3. No Need for Inspection Repairs
Another benefit of a cash-only sale is no bank requirement for an inspection. Although a savvy cash-only buyer will likely ask for an inspection anyway, it’s only for awareness.
You won’t be required to do any major work or repairs in most cases. Many cash buyers only want to know what they’ll be getting themselves into. No one wants a money-pit, after all.
4. Faster and More Reliable Closing
Without the need for financing, you don’t need to rely on the bank approving your buyer’s mortgage. This means less paperwork, less chance of rejection, and less chance of the closing falling through last minute.
Getting a home mortgage isn’t as easy as it used to be, since the 2008 financial collapse. That’s a good thing, but it’s making it hard for first-time homeowners, especially. Proving income and credit scores are a major sticking point for many, especially in a gig-economy like we now have with younger buyers.
There’s less second-guessing with cash sales since the money is on hand and buyers act quickly.
Get Your Home Sold Fast With Cash
Need to sell your home fast, without pouring tons into remodels and fixing up your roof or foundation? Getting your home sold fast with cash may be your answer.
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