There’s more than one way to sell a house.
The traditional process of selling a house can be a massive undertaking. Not only do you have to deal with competition in the market, but you may have to contend with pricey home repairs, lender issues, and any number of unforeseen delays.
If all of that sounds like a huge hassle that you’d rather not deal with, selling your house for cash is a potential solution that could simplify and speed up the process.
If you’ve been wondering “Should I sell my house for cash?”, this article is for you. We’ll talk about some of the common reasons why sellers opt for a cash sale versus a more traditional home selling transaction.
Benefits of Selling Your House For Cash
There are a variety of reasons why you might choose to sell your house for cash.
For one, it simplifies the entire process by removing some of the middlemen. When you choose to work with a realtor and a buyer working with a lender, there’s a chance something could go wrong. Even if the buyer has been pre-approved, their loan application might be denied — killing the sale instantly.
Since a cash buyer is not working with a lender, there’s no ambiguity about whether or not they’ll be approved for a loan. A cash buyer is prepared to pay for the house in question without waiting for the bank’s green light.
Here are some of the other benefits of selling your house for cash:
Speed Up the Sale
Some houses sell quickly … Others languish in the market for months on end. Depending on your situation, the idea of a speedy sale might be an extremely appealing prospect.
When selling a house for cash, the process is often a lot faster than the traditional home selling process. Some cash sales go through in as little as a week or two.
Selling a house for cash often results in a slightly lower sale price than if they brought the house to market with a realtor. However, as you’ll see as you keep on reading, you’ll have to deal with fewer pre-sale costs, so things can even out in the end.
When bringing a house to market, a seller typically has to go through the hassle of making costly and time-consuming home repairs to attract the most buyers.
With a cash sale, you can typically skip the repairs. Many cash buyers are willing to buy a house in any condition — even if it has structural issues or hasn’t been updated for years.
If the idea of handing over your house as-is versus dealing with repairs and updates sounds appealing, selling your house for cash may be a great fit for you.
As noted previously, a cash offer for a house will typically be lower than an offer on the market. However, selling a house for cash can actually save you money in other ways.
As noted above, you can avoid paying for expensive repairs. But that’s not the only place you can potentially save.
You’ll also save money by avoiding realtor commissions and closing costs. These fees and costs can add up significantly — selling a house for cash helps you avoid them.
Offers Without Obligation
In the traditional home selling process, both buyer and seller put their intentions on paper pretty early on in the process. It makes it difficult to back out of the sale once it’s already in motion.
On the other hand, there are no guarantees with a cash offer. Simply receiving an offer doesn’t mean that you are obligated to accept.
If you decide that you want to change paths or decide not to sell — even after you receive an offer — you won’t be penalized.
Dealing with house showings can be a huge hassle. You might have to vacate your house at a moment’s notice if a potential buyer is interested in viewing your property.
Not only is this stressful, but it can affect your quality of life and your ability to concentrate on work! Plus, you’ll have to keep your house extremely neat at all times.
When you sell your house for cash, you won’t have to deal with leaving the house quickly when a potential buyer is on the way. For many, this benefit alone is reason enough to go with a cash sale!
Selling your house for cash is simple and straightforward. There are a variety of benefits to selling your house for cash, including:
- A faster sale
- Fewer middlemen
- Avoid real estate agent commissions
Of course, every situation is different. Some prefer the traditional process for the potential of a higher sale price. However, if these benefits sound appealing to you, it may be worth considering selling your house for cash.
What benefit of selling your house for cash appeals most to you?