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Are you ready to avoid the stress and back-and-forth of traditional home sales? Did you know there was another option to sell your home besides waiting weeks and weeks to settle, only to have your buyer back out, or their mortgage application fall though?
Selling a home for cash is a quicker way to sell your home than the traditional method through a mortgage. It can also be a less-frenzied alternative in this crazy current housing market.
Here are six advantages of selling a home for cash that you might want to consider when selling your house.
1. You Get to Keep All the Cash
That’s right! Selling a home for cash means that realtor agents aren’t involved in the process and don’t get any cut of your selling price.
There will be no closing fees to worry about. The full price that you sell your home for belongs to you.
2. Less Likely to Fall Through
Because of the quick turnaround time in selling a home for cash, it means the whole process is less likely to fall through. There’s no chance for the mortgage to suddenly not come through for the buyer or for the buyer to back out.
Once the buyer gives you your cash, it’s yours to keep and the deal is done. If you have more questions on the specifics of how to sell a home for cash, you can check out these FAQs.
3. Shorter Closing Times
The average time to close on a sale with a traditional buyer takes between 4-7 weeks because of all the steps and hoops that must be jumped through.
In contrast, selling a house for cash means you can be pocketing the money within 1-3 weeks instead.
4. No Appraisal
Traditional sales usually require an appraisal because the bank wants to make sure that the home’s sale price is worth their investment. It’s incredibly rare for mortgage lenders to loan more than the home’s appraised value.
If the bank appraises your home for less than your asking price, you’ll have to either adjust your price or understand that most buyers won’t be able to get a loan for your full asking price.
5. No Repairs Are Necessary
The process of selling a house for cash means that you’ll sell ‘as-is’. A buyer’s offer doesn’t come with repair contingencies or exceptions.
This is a great alternative to traditional mortgage selling, which often comes with additional requests for improvements.
6. No Negotiations
Not many people enjoy haggling over prices. The home selling process can seem even more overwhelming when bartering is part of it.
When you’re selling your home for cash, a hard and fast offer is made that you can accept or decline immediately.
Reap the Benefits of Selling a Home for Cash
Selling a home for cash is quick, has less hassle, and puts more money in your pocket. Knowing how to sell your home for cash, and the impressive benefits of doing so, is a great additional option to traditional mortgage selling for any homeowner.
Take a look at our other articles for more helpful home selling and buying tips!
