Preparing to sell your house requires a lot of time, energy, and even money. From finding the right realtor to staging your home and making repairs, it creates a lot of stress. Don’t you think that selling could be easier?
Well, it can be, with cash offers.
Keep reading to learn more.
What is a cash offer?
A cash offer allows you to sell your home privately for a lump sum of cash. These generally come from property investors.
The property investor will meet you at your home to personally inspect the property. Once they’ve made their assessment, they’ll let you know what repairs are needed and present a cash offer to you on the spot.
You can expect to make less than what you earn through a traditional home sale, but you can also expect not to spend any money on repairs to make the sale.
10 Benefits of accepting a cash offer on your house
Normally, when the buyer has a loan from a bank, the bank will only approve the sale once an appraisal determines the value of the property. With cash offers, you won’t need to have your home appraised like with traditional sales because there is no lender involved.
Most home buyers and sellers know that mortgage lending takes a long time to close—up to 30 to 60 days! Unfortunately, a lot can happen during that period, like a loan or sale falling through.
Since cash sales aren’t dependent on mortgage underwriting, the timeline of buying and selling is significantly shorter.
Your home may have different offers, and you’ll want to choose the buyer with the least amount of risk. Cash offers are usually much stronger than offers through traditional financing because the sale is less likely to fall through.
It’s no secret that the traditional way of selling a house comes with a lot of stress. There’s a lot of preparation involved, like cleaning, repairs, staging, finding a realtor, and dealing with constant showings. That doesn’t even include the waiting game you have to play during the closing process.
Cash offers, on the other hand, remove all of this stress. You can sell your house as-is to avoid all of this.
Helpful in difficult situations
Sometimes you have to sell a property because of a sudden or difficult situation. Things like relocating because of work, splitting equity because of a divorce, or inheriting a home from a loved one who has passed away are all things that make selling a house more tricky.
Fortunately, cash offers are a quick and effective solution to all of these problems. Going with a cash offer in these scenarios will save you time, money—and headaches.
Save on repairs
Perhaps one of the most stressful things home sellers face in traditional sales is getting their property market-ready. So if your home inspection uncovered necessary repairs, you’ll need to make them.
Either you’ll have to pay out of pocket to make the repairs, or you’ll need to lower the asking price to account for this.
However, with cash offers, you can sell your home as-is. That means there’s no need to make repairs. This is especially helpful if your house is outdated or if the repairs are more than you can afford.
Skip the showings
Potential buyers won’t just come to you once after your house goes on the market. You have to work hard to find them and get them interested in your property.
Normally, showings help you do just that, but they’re also time-consuming and expensive. You have to put up with numerous open houses, which means you’ll need to keep your home walk-through ready at all times.
But with a cash sale, you don’t have to do any marketing or showings to sell your home.
Stop losing money
It’s easy to assume that selling your home will make a profit, but that’s not always the case. Depending on the number of necessary repairs, the property could turn into a money pit. This is especially true if you’re trying to sell an older house.
Instead of wasting your money on getting your home market-ready, accept a cash offer to see what you can get for it as-is.
Not everyone has time to wait 30 to 60 days to close on their home. If you need to move immediately because of work, a divorce, or any other emergency circumstance, things need to move as quickly as possible.
A cash offer will allow you to close in no time in situations like these.
Haggling over prices and dealing with negotiations isn’t something most people look forward to—it just adds another layer of stress. With cash offers, you can avoid negotiations altogether.
Cash offers avoid all of that.
Instead of going back and forth on the price, consider a cash offer. You’ll receive a firm offer based on your home’s market value, and you can accept it on the spot.
Find out what your property is worth
If a cash offer sounds like the right path for you, get started now with Simply. It only takes 30 seconds to get an offer!