In recent years, selling your home for cash has become a popular real estate trend. 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. Check out the merits of selling your house to a cash home buying company.
The sale process is faster. By selling your house for cash, the entire process becomes faster. Cash house buyers already have the money needed to buy the house; therefore, they do not require any home loan. As a result, they do not need to apply for a mortgage and wait for it to be approved. Because you are not selling your home through a real estate agent; there isn’t any point for you to wait for them to take images of your house, create a listing and plan open houses. In many situations you can complete the process within two weeks if you sell your house through a cash buyer.
You do not have to do the repairs. By using the traditional approach to sell your home, the prospective buyers can request you to repair or renovate your house before they agree to buy it. On the other hand, if you are selling your house for cash, you are selling it as it is and therefore the buyer can either take it or leave it. Even though you are not going to get as much money for your home when you sell it for cash, you will realize that not having to pay for repairs and renovations counteracts the lower price. 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. So much can go south when you are trying to sell your house. Case in point, a potential buyer can lose their financing or job or you could be forced to repair some things after conducting a home inspection for they sell to pull through. Most of the sale contracts have contingency statements that favor buyers and they can legally back out of the sale for a variety of reasons. However, cash sales are not dependent upon contingencies. Cash buyers know that homes for sale need repair work. It is also difficult for them to back out from buying a home and the moment money has been exchanged there is no turning back.