Whether you’re a homeowner looking to sell your house fast or an investor interested in buying, selling for cash can be the best option. Sellers get their money quickly without any of the hassles associated with traditional home sales and buyers are able to purchase a property without putting down tens of thousands of dollars up-front.
Whether buying or selling, speed is one of the biggest benefits of a cash deal. As soon as the papers are signed, you can get your money and walk away. With cash deals there’s no need to wait for your mortgage application to be processed by a bank or private lender – you receive 100% of the money upfront. That means that you will have access to your cash as soon as the deal is done.
Selling a house for cash can be an excellent way to make money quickly. If you are considering this option, it’s important that you know the ins and outs of selling your property in order to get top dollar.
What is a Cash Offer?
A cash offer is an offer to buy a property that is paid for in full, with no contingencies. This type of offer can be attractive to both buyers and sellers because the buyer knows they are not going to get outbid at closing, while the seller doesn’t have any risk of being unable to close on their sale.
The downside for a seller is that there may not be as many interested parties if they only accept cash offers and there’s nothing else special about the property-but this can also be seen as an advantage because it gives them more control over who actually purchases their home.
For buyers, one downside could be that appraisals may come back lower than expected if you’re using your own financing – but again, this gives you more control over the deal.
How Common are Cash Offers?
A recent study from Realtor.com found that cash offers are on the rise in real estate transactions, especially when it comes to homes priced under $300,000. The survey of more than 17,000 homebuyers and sellers suggests that over half of all buyers are paying with a cash offer.
Many buyers feel they can get a better deal when using cash because there’s no mortgage company involved in the transaction. The seller also benefits from this arrangement as well – typically getting about 10-15% higher price than those who require financing through traditional means which often results in quicker closings and less hassle on both ends of the sale process.
One of the most popular reasons why buyers are choosing cash deals is because there’s no need to qualify for a big loan through a mortgage lender and be approved. Cash offers also eliminate the risk factor that comes with finding an interest rate, paying closing costs, and facing other fees – which all add up quickly during a home purchase.
But just how common are these types of transactions? According to the survey by Redfin: cash offers for homes are on the rise overall. In 2015, 25% of cash offers were accepted by sellers compared to 21% in 2013. Buyers under 40 were more likely to accept less traditional payments than older buyers: 50% for those aged 18-39 and 30% for those over 60. The study also found that women are more likely to accept a cash offer than men (26% vs 22%).
Why Would a Cash Offer Benefit You as the Seller?
Consider this: you’re a homeowner, and the time has come to sell your home. You’ve decided that selling is the best option for you, but now have to decide on how to go about it. With so many different options available, it can be hard to know which one will work best for you. If you’re looking for an offer with no strings attached and would like more control over how much of a commission goes into agents’ pockets than what they’ll get when using other methods of sale, then why not consider accepting cash?
As the seller, there are plenty of reasons why you might choose a cash offer. For starters, as mentioned before: with no negotiations or commissions involved in the process at all (in fact agents will be paid from the buyer’s own pocket), you’re in full control of how much you’ll accept. Another benefit (for the seller!) is that there are no instances of offers being accepted on your home without your knowledge, which means you can stay informed at all times.
As a seller, it’s understandable to want everything to go as smoothly as possible when selling your property. This means both offers you receive are likely to be subject to some sort of negotiation and/or commission from a licensed real estate agent. The process can seem complicated at times, and there is always the risk that the buyer may back out of their offer entirely after putting in so much hard work into making an attractive bid.
Accepting cash for your home eliminates all of these stressful situations, leaving you with full control over how much money you’ll accept – even if this includes asking for more than what was initially offered!
Where to Look for a Cash Buyer for Your Home?
You don’t need to search far and wide for a cash buyer that will be interested in buying your home. Instead, you can create an ad online for the property as if you were selling it on the open market with other homes.
This makes sense because many people who buy real estate do so completely through an online portal such as Zillow or Realtor.com, using their smartphone to view photos of houses they’re interested in without ever going into a real estate office or meeting with a licensed agent.
If you decide to go this route, remember that someone looking at your listing isn’t necessarily qualified to buy your house – they are simply expressing interest in viewing the home before making an offer.
There are a few instances where real estate investors or brokers will pay cash for homes. Investors may buy homes that need renovation and turn them into rentals. Brokers may purchase the home as part of an investment for someone else who wants to rent it out for profit. If you’re looking to sell your home, talk to your broker about how much cash they can offer in order to make the process easier.
On the other hand, all of the searching, posting, and calling different outlets can be eliminated by reaching out to one company. Simple Sell Home Buyers will offer competitive cash offers on the spot, with no listings, prep work, or showings. All aspects are taken care of by us, meaning that not only will Simple Sell pay for everything, but we’ll handle everything for you throughout the process.
You won’t have to worry about any of the hassles that selling your home usually entails, like cleaning up or getting it ready to market. With no inspections or appraisals, you will receive a competitive cash offer on the day of your tour, giving you the power to sell on your own schedule.
If you’re a homeowner who wants to sell your home for cash but doesn’t want the hassle of hiring an agent or waiting on buyers to find you, then Simple Sell Home Buyers is the company for you. We’ll buy your house in any condition and close within days. You’ll finally have peace of mind knowing that your home will be sold quickly without all of the complications that come with selling a house traditionally.
Summary
Are you tired of the hassle and stress that comes with selling your home? Simple Sell Home Buyers are looking for houses in any condition. We strive to make this process as simple and efficient as possible for our customers because we know that selling your house can be very stressful and time-consuming. We’ve helped many homeowners in the past who are facing an unexpected financial crisis or just want to move on from their property without the hassle of listing it online.
Whether you want to take the stress out of selling your home or are looking for a way to get paid quickly without going through all the hassle and headache, Simple Sell Home Buyers can help. If you are interested in selling today, then fill out an online property form, so that we can schedule a time to come and tour your home.
Image Credits
September 25, 2020 / Pexels
May 19, 2020 / Pexels
Realtor.com / Google Stock Images
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Huddle Today / Google Stock Images
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David Kidder KW / Google Stock Images
