Are you thinking about selling your home soon? If so, you’ve probably done a ton of research to find out more about the home selling process.
Of course, you’ve likely encountered dozens of articles talking about how to add value to your home, make it more appealing to buyers, and prepare it for the market. But what if you don’t have time for the traditional house selling process? What if you lack the funds necessary for making repairs and renovations?
Have you considered selling to a cash buyer? Yes or no, this article is for you.
Keep reading for everything you need to know about how homeowners can benefit from selling their homes to a house cash buyer.
No Realtor Fees
If you were to sell your home traditionally, we would recommend hiring a realtor. They have a ton of local experience that can serve you well. They can help you sell your home quicker and for more money.
However, real estate agent services also come with hefty fees. Most agents charge anywhere from 3% to 6% as their commission fee for helping you sell your house. Furthermore, many buyer/seller negotiations end with the seller paying for both realtors.
At the end of the day, you could be paying upwards of 12% of your home selling profits. For clarity, if you sold your house for $260,000, you would be paying over $31,000.
When selling to a cash buyer, a real estate agent is not necessary, allowing you to save tens of thousands of dollars in realtor fees alone.
No Lengthy Inspections or Home Appraisals
One of the best perks of selling to a home cash buyer is that you can skip traditional home inspections and house appraisals. Both of these services are typically requested by buyers and/or demanded by their lenders. Naturally, banks and mortgage companies don’t want to invest in a home unless the condition and value are verified.
However, these services can take several weeks to schedule an appointment. Furthermore, home inspections and appraisals cost between $300 and $450 each.
You Don’t Need to Invest in Expensive Repairs or Renovations
The majority of homeowners spend tens of thousands of dollars preparing their homes for the real estate market. These expenses are primarily comprised of home repairs, updates, and minor renovations.
But what if you don’t have that kind of money to get your house ready? You could sell your house on the market in as-is condition, but that will severely limit the amount of interest you’ll receive from buyers. As such, your house could sit on the market for months without a serious offer.
A property cash buyer, on the other hand, will give you a cash offer regardless of your home’s condition. If you need to sell your house and don’t have time or money to invest in renovations, a cash buyer might be your only solution.
Skip the Cleaning and Staging
If you’re keeping track thus far, between real estate agents, inspections, appraisals, and renovations, the traditional home selling process can cost upwards of $50,000. However, there are more costs you need to consider.
The cleanliness and staging of a home in the traditional real estate market are paramount to attracting buyers and getting offers. A dirty, smelly home with stained floors will scare most buyers away. Therefore, many sellers invest in residential cleaning services to prepare their homes for private tours and open houses.
Additionally, professional stages homes tend to sell much faster than non-staged homes. Yet, these services can costs hundreds of dollars a month per room. In other words, you would need to spend thousands of dollars a month to have your home staged.
Cash buyers don’t care about the cleanliness or staging of your home. They know that stains and messes, and even left-behind possessions don’t actually affect property values. As such, you won’t need to clean and stage your home or hire services to do it for you.
No Invasive Home Tours
So far, all of the preparations and costs we’ve talked about in the traditional home selling process exist to attract buyers to your home and generate offers. A fundamental step in getting an offer is providing home tours.
Buyers will work with their agents (or independently) to schedule a private tour of your home. If you have an agent, they will handle the tour, but you will need to vacate your home while it’s going on. If you don’t have an agent, you’ll be responsible for the tour.
Regardless, it means taking time out of your day to walk strangers through your home, which can be tedious, invasive, and inconvenient. By working with cash buyers, there will be only one tour. The cash buying company will send a qualified representative to inspect your home so they can give your a fair and accurate offer.
No Negotiating With Picky and Demanding Buyers
In the traditional home selling process, once you have an offer on the table, the work is only just getting started. Most buyers will come in with a low offer and/or a list of demands. In most cases, these demands are centered around the results of the home inspection.
For example, they might require certain repairs or updates before they’re willing to finalize their offer. If you refuse due to a lack of time, money, or desire to meet their demands, they’ll counteroffer with a lower price.
Some buyers are quite practical and logical, while others will have unrealistic expectations and demands. Regardless, if you want to sell your home to that buyer you’ll need to play ball.
Quick and Guaranteed Closing
Perhaps one of the best home cash buyer benefits is simplicity. This includes the closing process.
Once you reach out to a house cash buyer for a free cash offer, you should receive a response and have said offer within a few days. If you accept their offer, most cash buyers can close in 7-14 days. This is because they have a guaranteed closing process.
Conversely, when selling your house traditionally, there are no guarantees. The buyer can pull out at any time. They might also become disqualified for any number of reasons.
If this happens, you’ll be back to square one.
Looking for a Cash Buyer Who Will Purchase Your Home?
As you can see, there is a wide range of benefits for homeowners who choose to sell to a cash buyer. It’s not necessarily the right choice for everyone, but it can certainly be a saving grace for many.
If you need to sell your home quickly, don’t want to make repairs, or don’t feel like going through the tedious process of selling your house traditionally, we can help. Contact us today to get your free cash offer. We would love to help you sell your house and move on with your life.