Selling a house for cash comes with some benefits that may surprise you. If you’re still considering selling as-is for cash, you’ve come to the right place. We’ve rounded up a few of the many benefits of selling your home to an all-cash buyer.
From saving money to saving time, there are some major perks to not selling your home traditionally. There’s also no need to stage or spruce up your home for an endless stream of buyers. Let’s dive in to see if selling your home for cash is the right move for you.
1. You’ll Save Money
Knowing how to sell your property fast, starts and ends with a cash offer. Selling a home the traditional way costs a lot of money.
While you hopefully make money after closing, there are some costs you’ll want to factor in. You may need money to make repairs, hire house cleaners, rent storage, and pay your realtor.
To start, real estate commissions average 5%-6% of the price of the home. A portion of this goes to the buyer’s agent and the rest goes to your agent. If you’re selling a $300,000 home, 6% of that is $18,000.
Selling a home for cash to an investor means you don’t have to pay expensive real estate commissions. You also save money on carrying costs. The longer your home sits on the market, the longer you pay your mortgage and utility bills.
2. You’ll Save Time
There’s no telling how long your home will sit on the market. You can list your home traditionally and wait for a buyer or sell it quickly with an as-is cash offer. The traditional housing market costs you a lot of time.
In addition to the time you spend on the market, your buyers may also need months to close. If you stay on the market for three months, and a potential buyer wants a 60-day close, that’s almost half of a year before you can move on.
3. No Showings or Open Houses
When you list your home on the MLS, you have to show your home to potential buyers. You may have hundreds of people coming through your home while it’s on the market. Each time you have a showing you’ll need to vacate and prep your home.
In addition to showings, you’ll also likely need to host an open house. Weekday or weekend showings are especially difficult with kids or pets. You’ll have to find pet care or childcare or take them all somewhere each time you have a showing.
In addition to getting out of the house, you’ll also need to get your home ready. You’ll need to pick up and clean up before anyone comes in.
That could be multiple times per week. With an as-is cash offer, there are no showings to stress about.
4. There’s No Need to Make Repairs
If you don’t sell your home as-is, you could be faced with some repairs or renovations in order to sell your home. Buyers are picky. They want move-in-ready homes that show well.
If you have a broken faucet or lightbulbs that need replacing, you’ll need to put in some work in order to get your home sold. This could cost you money and time. If you aren’t handy, you’ll need to pay someone to freshen up or repair your home to sell.
5. You Don’t Need to Stage Your Home
If you’re selling your home as-is, there’s no need to stage your home to sell. Staging is where you remove most of your personal items and clutter to help give each room a purpose.
Buyers want to see themselves in your home. They don’t want to see all your clutter.
In order to sell your home on the traditional market, you’ll need to do some major clean-up and purging. You’ll also want to bring in some new furniture or stage your existing furniture to give each room a purpose.
6. You Can Move Into Your Next Home Sooner
Selling your home as-is means you can move into your new home sooner. You won’t need to wait for your home to sell or have it sitting on the market. The longer it sits on the market waiting for a buyer and then for closing, the longer you’re waiting to move on.
Your next chapter in life is waiting. Move on sooner with an as-is cash offer. You can get your home sold so you can move into your next property or start your next adventure.
7. You’ll Have Cash In Your Pocket
One of the best parts about selling your home quickly for cash is that you don’t need to wait for your buyer’s financing to go through. There are no mortgage contingency or loan terms to wait for.
Your buyer is an all-cash buyer with no lending hoops to jump through. That means more cash in your pocket sooner.
Your offer also comes from a professional, real estate investor. No first-time home buyers trying to nickel and dime you.
Selling a House for Cash 101
Selling a house for cash makes sense financially and emotionally. With an as-is cash offer, there’s no waiting around for a buyer, hosting an open house, or staging your home to sell. Your home sells faster to a qualified buyer and you’re able to move on to the next chapter in your life.
If you’re ready to get your home sold quickly, it’s time to make the move with a cash buyer. For more home and investment tips, check out the real estate section.