Many people are curious about those advertisements they offer hear on the radio or see on television. The ones about selling your home for cash. Can it really be true? Is it truly as effortless as it seems? Well, let’s take a walk through the process.
Once you make a decision to sell your house, you have two options. Option one is to try to sell it yourself. This more than likely is a good idea. Selling a property requires some expertise, and knowledge of real estate laws and practices.
Option two is to go the traditional route by consulting a realtor. This can be safer than handling the sale yourself but may entail quite a bit of stress, not to mention expense. You will have to prepare the home for sale. This may mean making improvements, remodeling, or simply painting and deep cleaning, in order to achieve a top-dollar sale. It also means you will have prospective buyers traipsing through your home at their convenience, not yours. They will look, and sniff, and judge. And, you will have to pay for the privilege. This could be anywhere from 3% to 6% of the final sales price. And there are closing costs and escrow, and property disclosures to be considered. On top of that, the sale may fall through at the last minute because the buyer could not get financing.
Now, let’s take a look at option three, selling to a professional home buyer. This type of buyer pays in cash, so there is no worry about financing falling through at the last minute. And they can close much more quickly, in weeks or even days, rather than months. As an added benefit, the house is sold in as-is condition. All you need to do is pack your clothes and what possessions you want to take with you, and leave. No repairs, no remodeling, no painting, no scrubbing the walls down to the framework. Since the sale is as-is, there will be no worries about your being responsible for hidden problems, problems that you may not have even been aware of. There are no commissions or closing costs. You will receive the full value of your home, and this will be the fair market value of the property. Since the sale and settlement happen so quickly, you may be unprepared to move before the sale is complete. Not to worry. Because the professional home buyer is most likely buying the home as an investment, not as a personal residence, there is every chance that they will allow you some leeway as to a move out date when they can take possession. Just work it out with them.
Many people today are choosing to take advantage of a cash offer from a home buying professional. Especially in the wake of a global pandemic. It limits your exposure by eliminating foot traffic through your property. It reduces stress, and it puts money in your bank account much sooner than other methods. What’s not to like?