Every year, millions of Americans decide to pull up roots and sell their family homes. Just a few decades ago, both sellers and buyers viewed cash sales as a reason for suspicion. Lately, though, cash sales have become the norm for homeowners who don’t have the time to hire a real estate agent and wait for weeks, or potentially longer, for the right buyer.
Homeowners who want to sell their homes for competitive prices often wind up spending a small fortune on repairs and upgrades. This approach can take up weeks or months of extra time, and it doesn’t always pay off in the long run. Homeowners who want to sell their homes as-is instead of making expensive repairs can get advice from PlacePitch about how to proceed.
Sitting on a vacant house that hasn’t been used for years and may need substantial work to make it move-in ready? Selling for cash is still a fantastic option since many buyers will purchase houses in any condition.
Just about everyone has, at some point in his or her life, driven by a house in the neighborhood that sat with a “for sale” sign in the yard for months on end before it received any offers. Even if there are plenty of buyers interested in the house, it can take weeks or longer for them to arrange financing, put in offers, establish contingencies, request inspections, and perform all the rest of the steps associated with traditional home sales.
When homeowners sell their properties for cash to real estate investors, they don’t have to worry about waiting forever before they receive their payouts. All they have to do is get in touch to arrange a showing. The investor will then return an all-cash offer with remarkable speed, often within just one day, and will expedite the closing process to get the cash in the seller’s hand in as little as a week.
No Hidden Costs
Most people who opt to sell their homes via traditional channels realize they’ll have to pay their real estate agents a commission. What they don’t know is that there are also all kinds of hidden costs associated with home sales, from paying for repairs, surveys, and inspections to making seller concessions to push through difficult sales.
When homeowners work with real estate investors, they won’t have to worry about hidden costs. There won’t be any demands for repairs and renovations or drawn-out negotiations with potential buyers, nor will homeowners have to worry about paying commissions. Instead, they’ll get a no-nonsense, market-based offer that represents what they’ll really get for the property.
No Home Showings
Showing a home can create a lot of stress. In most cases, the family has to keep everything perfectly clean, free of clutter, and be prepared to leave the home at the drop of a hat when the real estate agent wants to come by with potential buyers.
When homeowners sell their houses for cash, they don’t have to worry about all those interruptions in their lives. They can schedule a single showing and then receive a cash offer with no need for cleaning, staging, or jumping through hoops to accommodate real estate agents and buyers.
Sales Won’t Fall Through
Most people who buy houses via traditional means take out home mortgages to finance their purchases. Unfortunately, those loan applications aren’t always approved, and many sales fall through at the last minute as a result. Sellers then have to start from square one, creating all kinds of new frustrations when the family is ready to move on.
When homeowners sell their properties to real estate investors, the chances of complications coming up that place the sale at risk are far lower. Investors already have the money lined up, which means there’s no need for dealing with banks and financing their purchases. To sweeten the deal further, cash sales typically close much faster than conventional, financed home sales.
Greater Flexibility Over Terms of the Sale
Most real estate investors are willing to meet sellers on their own terms. If, for example, a landlord wants to sell a rental property that still has tenants living in it, the right investor will purchase the property without forcing an eviction. Similarly, homeowners facing foreclosure or other complicated circumstances tend to find that the greater flexibility offered by cash sales to real estate investors greatly simplifies their lives.
Sellers who work with cash buyers also have more control over the closing date. Unlike traditional buyers, investors don’t tend to put contingencies in their offers that stipulate when the current occupants need to leave. Homeowners who want to sell their houses quickly but need some time to move out can schedule closing dates that work for them without worrying about disrupting the sale process.
Freedom to Move Forward
Cash sales offer a far greater amount of freedom and security to sellers. Homeowners can request no-obligation quotes to see what their properties are really worth on today’s market and move forward with the sales on their own terms if that’s what they decide to do. Instead of waiting for months to find the right buyer, go through negotiations, and wait on closing dates, sellers will get their cash fast so they can move forward with their lives.
Real estate investors don’t just purchase primary residences. They’re often just as interested in vacant homes, second homes, seasonal homes, and even properties facing foreclosure. Property owners who are ready to move on but need the extra cash from their home sales to get on their feet will find that a cash sale gives them the freedom to move forward on their own terms.
The Bottom Line
Selling a home doesn’t have to be stressful. When homeowners work with real estate investors, they can get cash offers for their properties in as little as a day and have money in their pockets incredibly fast. Granted, they may not make quite as much from the sale as they would by waiting for months to find the right buyer, but selling for cash will remove a lot of headaches and hidden fees to ensure the whole process goes smoothly.