A Beginners Guide To Properties

Selling Your Home for Cash

There are plenty of good sides and very few bad sides to selling a home for cash. On top of list of pros are convenience and speed of transaction. As soon as you accept a cash offer, you will often be able to get your money in days. This can be an instant life saver for those dealing with bankruptcy, relocation or foreclosure.

Less Sales Fall Through

As well, a cash sale eliminates the all-too-familiar circus of taking an offer, only to lose the buyers in the end because they aren’t qualified for any loan. After the cash has been passed along, there will be no cold feet backing out. Cash sales generally close in just one to three weeks, while it takes about four to seven weeks to close a conventional sale. Cash sales are mostly “as is” as well, so there’s probably no key repainting and repairs needed.
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Seeking Professional Advice
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While you need not skip professional representation for a house sale unless you are sure of what you’re doing, there are definitely less potential issues in a sell-by-owner cash transaction. However, without an agent, you need to price your home right to ward off bottom-feeding cash investors or buyers who can swoop in for so much less.

Therefore, you have to get an appraisal and do a bit of additional research on your own. Explore various listing services to compare prices and price adjustment records for homes within the same location, along with time-on-the-market statistics. The appraiser usually performs a minimum of three computations based on recent sales, but you can explore more data so you can be enlightened further.

There are quick-sale real estate agents you can depend on for paperwork, doing most of their work via email or phone to fast-track transactions. Either they will charge a fixed fee or get a smaller-than-normal percentage commission. But because their job is to sell quickly, they can propose a listing price that is way lower than what is offered in the conventional loan market.

Protecting Yourself

That cash buyer is a good prospect, you must ensure they do have funds – look for evidence! With a lot of cash buyers planning to repair and resell such properties, you can explore working out a short-term lease-back deal for you to remain in the house if suitable for you, and give the new owner an income stream while they take care of the repairs or other projects.

Certainly, cash is king in a real estate scenario if you’re the seller. You may get less from the house like this, but you can lower repair costs and avoid more problems while enjoying a fast, convenient, and stress-free process.