Lately, selling homes for cash has gained popularity in the real estate industry. In most cities, the percentage of real estate cash transactions surpass national average of 30%. However, should you sell your house to a cash buyer? Selling your house for cash has numerous benefits as opposed to hiring a real estate agent. Below are the reasons why you will benefit when you sell your house to a cash buyer.
The selling process is quicker. By selling your house for cash, the entire process becomes faster. Cash home buyers do not require a home loan since they already have the money required to purchase your house. Which means, they can do a very home loan application and approval procedures. The good thing about this is that since you are not selling your home with a realtor, you don’t need to wait for them to come and take the photographs of your house, create a listing and list free houses. In most cases when you use a cash buyer, the process can take a maximum of two weeks.
It is not a must for you to repair your home. Going the conventional way to sell your home means that potential buyers can ask you to repair or upgrade your house before purchasing it. On the flip side, with a cash offer, it means that you are selling your home in the condition that it is so the buyer can either choose to buy it or not. You will notice that not having to repair and renovate your house offsets the lower price even if you are not going to receive so much money when you sell your house for cash. You can’t be entirely sure that making upgrades will help your house to sell or improve its value as it all relies on the demands in the market and home buyers likings in a property.
You will be there to complete the sale. A lot of unforeseen issues can crop up during the home selling process. For example, a potential buyer can lose their job or funding or you might find out that something must be repaired before the sale goes through after a home inspection. A majority of the sale agreement incorporate contingency statements that are beneficial to the buyer and allow them to withdraw from the sale because of many reasons legally. However, cash sales are not dependent upon contingencies. Cash buyers understand that homes for sale may require repair work. It isn’t easy for them to get out agreeing to buy a house and if money is exchanged there is no going back.
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