7 Benefits of a Cash Home Sale
If you need to sell your house for any reason, you have multiple options. You can go through the traditional real estate sales process by hiring a Realtor® and getting it listed on the open market. You can list it yourself and go “For Sale By Owner.” Or, you can sell it straight to a real estate investor for cash.
Homeowners often dismiss a cash home sale as an option because they think they will get less money out of their property or they will get swindled in some way. This is simply not the case, especially when you work with a reputable cash home buyer like PropertyLark.
In fact, there are many significant benefits of selling your house for cash. Let’s take a look at a few:
1. A Convenient Solution
Not all homeowners are in a position to take the time or spend the money to get their home ready for sale, hire a real estate agent, list the property, accept offers and then go through the stressful closing process where any number of things can hinder the transaction from closing on time. Perhaps you are going through a divorce and need to split the equity. Maybe you are dealing with financial hardship and are looking to avoid foreclosure. You might have inherited a property that you don’t want to deal with. A cash home sale is a quick and convenient solution to get you out of a tough situation.
2. Faster Process
As you might expect, a cash home sale is much faster than a traditional sale that will usually take anywhere from 2-6 months on average. We’ve closed on some deals in as few as seven days! You can get out from under your property sooner, which saves time, money and stress.
3. No Need for Repairs or Cleaning
Cash offers are generally made on an as-is basis, meaning the buyer is purchasing the property in whatever condition it is in. Of course, the condition of the house will affect the cash offer price. However, you do not need to worry about making repairs, getting the property professionally cleaned/staged or making upgrades as you would normally need to do before listing it on the open market.
4. Less Hassle
When you sell your home on the open market, you have to deal with numerous people and make your property available for showings. You have agents, home stagers, home inspectors and contractors who need to come in to do work. You have to make yourself scarce for open houses and allow for scheduled showings to prospective buyers. A cash sale is much simpler and is much less of a hassle for you and your family.
5. Save Time and Money
Most people are concerned about accepting a cash offer because it is usually less than what they could get on the open market. This is true. However, in some cases, cash sellers actually come out with just as much money—sometimes more—in the end. You really do have to consider all the financial factors, including:
- No repair expenses
- No agent fees and broker commissions
- Less ownership costs during sales period (mortgage payments, property taxes, HOA dues, etc.)
6. No Risk of a Failed Sale
The final closing process (escrow) is often extremely stressful for a seller, especially if they are in a situation where there isn’t much time to lose. A buyer’s financing could fall through, a home inspection could reveal something that halts or delays the sale, or the buyer could simply back out within the allowable period. A cash sale eliminates these risks.
7. You Set the Closing Date
This last one is unique to PropertyLark. With us, you set the desired closing date. Whether you want to get out of the property as soon as possible (as few as 7 days) or you need a little more time to get things in order, just let us know when you want to finalize the transaction and move out. We’ll work with you to set an agreeable closing date. A cash sale is not for everyone. If you have the time and money to go through a traditional sale and list the property on the open market, that may still be your best option.
If time, money and stress are factors, then a cash sale may be the best option for you. Either way, it never hurts to request a free, no-obligation cash offer from PropertyLark. Fill out the seller contact form to the right or on any page of this website, and we’ll send you a cash offer within 24 hours.