Sell Your Home For Cash In Cleveland: What Upsides Are There?
Selling your home for cash has become a popular real estate trend in recent years. Especially since the rise in all of the house flipping shows on the popular network tv stations. In fact, in several cities, the percentage of real estate transactions that are cash sales surpass the national average of 30 percent.
So there has definitely been an uptick in people wanting to know the benefits of selling to a cash home buyer. So if you wan to ultimately sell your home for cash and fast read on to find out how!
But should you sell your property to a cash home buyer? Im sure some people would immeditaely say no. The answer may surprise you, but selling your home for cash does give the seller several advantages versus hiring a real estate agent. Not every house seller is a fit for a cash offer just like not every house is a fit for a real estate agent.Here are the benefits of selling your home for cash.
Benefits Of Selling A House For Cash:
Selling your home for cash makes for a much quicker home selling experience. Sometimes all cash purchases can be done within 5-7 days assuming there is not a mortgage on the home.
Cash home buyers don’t need a mortgage as they already have the money needed to purchase your home, which means they can forego the mortgage application and approval process.
Or they have private money investors that lend them the money to buy, rehab and then sell or rent the house. Or they could have a line of credit with a local or regional bank. The point is that they do not need a traditional bank in order to finance the sale. So if you want to sell your home for cash , cash home buyers would be who you may want to go with.
And because you’re not listing your home with a real estate agent, you don’t have to wait for them to take photos of your property, create a listing, and schedule open houses. These things do help with the sale of your property if you are listing with a realtor. But if you decide to sell your home for cash you do not need to worry about any of that stuff.
In many cases, once a cash home buyer wants to purchase your home, the transaction is completed within a week or two. All that’s needed is to fill out some paperwork, and your home can be out of your hands quickly. Especially with an easy offer process like ours. You simple fill out the form above, we will immediately contact you and then we can give you a price range over the phone. Then we can close whenever you want.
Benefits Of Cash Home Buyers: Skip The Repairs
Going the traditional route to sell your home means prospective buyers can request that you make repairs or upgrades to areas of your home before they agree to purchase it. Or they do a home inspection and require you to make additional repairs in order to make the buyers feel secure about the house purchase.
The other thing that comes up is the appraisal. It doesn’t happen very often but sometimes the appraiser needs certain things to be fixed like capping paint, or the roof to be replaced. This is one of the downsides when you sell to a person that is getting financing.
When selling your home for cash, however, you’re offering it in an as-is condition which usually means the buyer can take it or leave it. These cash home buyers are not going to be picky about things like chipping paint, floors needing to be redone and also major things like a furnace and roof. They truly buy in as is condition.
While you may not receive as much money for your home when selling it for cash, you may find that not having to pay to make repairs and upgrades offsets the lower price.There is definitely a trade off. Do you want convenience when selling? Then you may want to look into a cash home buyer that can buy and buy it quick. But you will not be getting the highest price possible.
There are also no guarantees that making certain upgrades will help your home sell or increase its value, as it all depends on market demand and what home buyers are looking for in a property. Some home improvement projects can actually hurt your home’s resale value. Sometimes people will do things to the house in terms of repairs and its what they personally think is nice. A new buyer may see the house and like everything but what you did. So they are now going to have to factor in the cost of repairing or replacing what you did.
You Avoid Paying Closing and Realtor Fees
Selling your home for cash means you get to keep all of it versus paying for a real estate agent’s commission. Commission fees can be as high as six percent, which means if you sell a home for $300,000, an agent will receive $18,000, a nice chunk of change being taken away from you. This fee gets paid regardless of whether your agent goes the extra mile to market and sell your home or not.
Some agents also charge a fee to list and advertise your home, which you’ll avoid when selling your house for cash.
You’re More Likely to See The Sale Close
So much can go wrong during the home selling process. A potential buyer may lose their financing or their job, or the home inspection may turn up something that needs to be repaired before the sale goes through. Many sale contracts include contingency statements that favor the buyer and legally allow them to pull out of the sale for a variety of reasons.Thats why if you want to sell your home for cash, its probably best to go with a reputable house buying company.
Cash sales, however, aren’t dependent upon contingencies. Cash home buyers are aware that homes for sale may need repair work. It’s also tougher for them to get out agreeing to buy a home and once the money has been exchanged, there’s no turning back.
No Cleaning and Staging Required
Homes sold via real estate agencies have to be clean and presentable for showings and open houses to increase their chances of attracting a buyer. An agent may even recommend that you have your home professionally staged to receive more offers.
Cash home buyers are aware that most of the properties they look at are being sold as-is. While it certainly doesn’t hurt to tidy up your home and make it look more presentable, there isn’t any pressure to make sure it’s spotless. You’ll save time and money, as you don’t have to worry about de-cluttering your home or hiring a cleaning service.
You Can Avoid Foreclosure
If you’re unable to pay off your mortgage, selling your home for cash may help you avoid foreclosure and cut your losses. Sometimes you can negotiate with your lender for more favorable loan terms but if this isn’t approved, selling your property for cash can help you pay off your mortgage and start over.
It’s Great For Unwanted Inherited Homes
If you already have a home of your own and inherit a property from a deceased relative, you may find you don’t have the time and resources to fix up the vacant property. An unoccupied house tends to be more susceptible to break-in, theft, and vandalism. This can depreciate its value.
Selling your home for cash is an ideal solution to unload an unwanted property quickly. The only thing you may have to do is deal with family possessions before you sell the inherited house.
It Saves You Time
Selling your home via an agent can be very time consuming and stressful. There’s the task of finding the right agent to work with, cleaning and prepping your home for showings, and then the back-and-forth of receiving offers from buyers and agreeing to one or not.
Selling your home to a cash buyer frees up more time so you can look for a new place to live and move on with your life.
Consider Selling to a Cash Home Buyer
As you can see, there are many advantages of selling your property to a cash home buyer. It’s hard to beat the speed, convenience, and value that selling your home for cash can bring.
Do you need to sell your home quickly? Tell us more about your property by filling out our form. We’ll be happy to explain the advantages of selling your home for cash further and walk you through every step of the process!