Many homeowners are starting to look past real estate agencies to consider cash home buyers when it is time for them to sell a home, especially if they want to sell their house fast. There’s a good reason for this trend in the housing market. A homeowner who discusses selling their property with cash home buyers will soon find out that there can be many benefits that accompany a cash sell. Here are a few of the top advantages for homeowners who sell their homes to an investor who offers to buy it for cash.
When someone buys your house for cash, it can ultimately save lots of time. One reason it is so much faster to sell your house to cash home buyers is that the closing costs are less and the closing can be completed in just a few days. Another reason it is much faster is that there is no long waiting to see if a potential buyer can get adequate financing or not. In some cases, one buyer is denied the funding for a mortgage and then the process has to begin all over again with another buyer. This process can drag on for literally months before anyone qualifies to buy your house. With cash home buyers there is no waiting period and no worrying about if the purchaser is going to be able to secure financing or not. It’s a done deal. Sellers also do not have to worry about appraisals which are required by lending institutions for buyers.
Selling to cash home buyers is a much more secure transaction than using financing and lending agencies like banks. There is no risk involved in terms of taking the chance that the buyer’s loan will be denied. There are also no types of limitations to be imposed by the lending institution or any government agency. This is a strong reason to sell a house to cash home buyers. Everyone knows banks are notorious for dragging their feet. Your closing could be delayed for a long, long time.
When an investor buys a house for cash, they will take the house “as is.” This term means that the homeowner has no responsibility to make any repairs or upgrades. Whatever state the house is in when they make the purchase is the state they receive it in. This means that it becomes the investor’s responsibility to make any needed repairs after the sale. This can translate into quite the savings for the homeowner. When a house it put on the market through an agent it must undergo an inspection. This can be costly as well as time consuming. But selling the house to a cash buyer means that you do not have to pay (or wait) for an inspection which can be a great money saver in the long run.
When a homeowner goes through an agent to sell their house, who do you think gets their cut? The agent, of course. Typically a real estate agent is going to only get about 6% of the sales price. This may not seem like a lot of money, but if you choose to sell the house for cash then that money can be put in your pocket instead of the agent’s. Selling your home to an cash home buyer investor for cash is kind of like paying yourself instead of an agent. In situations where a home was recently purchased and there is not a lot of equity built up, going through an agent may mean that you end up paying their commission out of your own pocket. By selling the house for cash, you will not have to be out of pocket for the agent’s commission and his fee will not need to be taken out of the sales price.
You’ll keep more money in your own pocket in the long run.