Photo from pexels
Originally Posted On: The Incredible Benefits of Accepting a Cash Offer For Your Home – Scoopcar
The real estate market across the country is hotter than ever. If you’re thinking about selling but don’t want all the hassle of listing your home, you’ve come to the right place. From choosing your own closing date to never having to host an open house, we’ll go over all the incredible benefits of taking a cash offer for your home.
With a cash offer, there’s no realtor commission to pay and there’s no need to turn your house into a show home. We’ve rounded up everything you need to know about taking a cash offer. Let’s jump in and see if a cash buyer is right for you.
1. You Can Sell on Your Time
One of the hardest things about selling your home traditionally is that you aren’t able to control when your home sells. When you sell your home as-is with Newbyginnings.com, you’ll be able to control when you move and sell your home. On the traditional housing market, your home first needs to get prepared for sale. Once you do this, you need to find a realtor and get your home listed.
Even after all this time, your home may still sit on the market for weeks or even months. Your potential buyer also has a closing date in mind. You’ll have to cater to their schedule and their closing date.
With a cash offer, you can sell for cash on your own time. This means no waiting around for buyers, realtors, and closing dates out of your control.
2. There’s No Waiting for Financing
When you sell to a traditional buyer who’s getting a mortgage, you need to wait for their financing to go through. Your potential buyer will need to secure their financing in order to purchase your home. If your buyers have their own home to sell, this often means a contingent offer.
With a contingent offer, you not only have to wait for the buyer’s financing to go through but you also have to wait for their home to sell. Often times a buyer can’t get a new mortgage until their current home is sold.
The financing process also includes an appraisal to confirm the value of your home. If your home doesn’t appraise for the value they offer, your buyers could cancel the deal. If a home doesn’t appraise, the buyer’s lender may not agree to the loan or the purchase price. When you get a cash offer, this is one less hurdle to deal with.
With an as-is cash offer, there’s no need to wait for an appraisal and wait for financing. You don’t have to worry about mortgage lenders, deadlines, and the deal falling through. You receive your cash-in-hand with no financing hoops to jump through.
3. No Need to Do House Showings
When you sell your home traditionally, you’ll want to have people inside at showings and open houses. Potential buyers come to your home at various times taking tours, taking photos, and asking questions about your home.
When you sell your home for a cash offer, there’s no need to do house showings. There’s no need for open houses and rearranging your schedule to fit buyers in. Every time you have a showing you’ll need to get your kids and pets out of the home.
Countless showings can take their toll on you and your family. When you accept an as-is cash offer, there’s no need to rearrange your life and disrupt your home for showings. You can sell when you want without all the hassle of showing your home.
4. You Don’t Have to Make Repairs
When you sell your home on the traditional market, you’ll want to get in show-ready shape. Buyers want to see houses that don’t need a ton of work. This often means making repairs, fixing broken items, and making small updates to help your home sell faster.
Updating your home to sell will often come with hidden costs. Even the smallest project snowballs into a bigger one. All the repairs your home needs will cost you money.
The broken sink you’ve been putting off fixing and the clutter you’ve been meaning to go through, all need to be removed. Potential buyers want to see homes as move-in ready as possible.
When you sell your home as-is, there’s no need to fix it up, make repairs, or make updates. You can sell your home as-is without all the hassle of updating it. This will save you a ton of money in repair costs. It will also save you weekends filled with projects and expensive contractors.
5. Selling As-Is Saves You Money
When you sell your home traditionally, it can cost you a lot of money. Not only are you often spending money to fix up your home, but you’re also paying carrying costs each month. A carrying cost is the cost of your mortgage, utilities, taxes, and insurance that you pay each month to own your home.
When you’re selling your home, you need to pay these carrying costs every month. Your home may stay on the market for months. All this time, you’re spending money to stay in your home.
Selling as-is also means saving money on closing costs, fees, home prep, and relator commissions. You can sell your home for cash and pocket your money for your next home.
Selling your home to a cash buyer also means you don’t have to compete with other houses on the market. If other houses are more updated, you may have to lower your price again and again to compete.
6. You Can Sell Your House As-Is
When you sell your home traditionally, a buyer will typically order an inspection on your home. An inspector will go through your home and see what needs to be replaced and repaired. A home inspector will also tell a potential buyer about all the potential hazards in your home.
If something comes up in the inspection, you either have to fix it or give the buyers a credit to fix it. This all comes out of your pocket and the profits from selling your home. Buyers may also walk away from the deal if something comes up, they aren’t comfortable with.
If a buyer walks away at inspection time, you have to start all over again listing your home. This means more time your home sits unsold. When it’s re-listed other potential buyers will also see the deal fell through. This could make them nervous about making their own offer on your home.
When you sell your home as-is, there’s no inspection to worry about. You don’t have to worry that a huge problem is lurking in your home. You can sell your home as-is without fear that an inspection will kill your deal.
7. There are No Realtor Fees to Pay
When you sell your home traditionally, you need to pay a realtor commission. You’re also paying for the commission for the broker on the buyer’s side. Realtor commission averages around 6% of the total sales price. If you sell your home for $300,000 that’s $18,000 taken out for relator commission.
When you sell your home as-is for cash, you don’t need to pay a realtor commission. The money you receive for your home is all yours. There’s no commission fee-cutting into your profits.
8. You Can Move Into Your New Home Faster
When you sell your home traditionally, there’s a ton of red tape that can potentially hold up the sale of your home. Selling your home puts you in the driver’s seat. From appraisals and inspections to delays with your buyer, all this time will prevent you from selling and moving on.
With an as-is offer, your home is sold when you want it to be. You can negotiate a closing date and sell on your own terms. This means you can move into your new home sooner.
It’s time to get into your new home. Whether you’re looking to downsize, move across the country, or just down the street, selling your house as-is means your home is sold quickly.
Sell Your House Quickly with a Cash Offer
Selling on the traditional housing market takes a lot of time, energy, and money. From realtor commissions to repair costs, selling the traditional way comes with costs that dip into your pocket. Selling to a buyer who’s getting a mortgage also comes with a set of potential delays.
To help make sure your home sells quickly, consider selling it as-is with a cash offer. A cash offer means no lender delays, no appraisals, and no open houses to host. For more real estate and finance tips, check out the business section.