Cash home buyers, in general, offer a lower price than your home’s fair market value. This may discourage some people from selling their homes to companies that buy homes for cash, but there are situations where it is a better option than selling a house with a real estate agent.
It is easy to get an idea of how much cash buyers would pay for your house. You can easily request for a quote for your house through their website, and you’ll receive an offer within 24 hours. You are not going in blind. You will know what to expect, and you can decide if the price works for you.
Should you sell your house for cash?
The answer to this question depends on your situation. So the question is when is it good to sell your house to a cash buyer? Usually, those who sell their house for cash are those who can’t sell or with expired listings.
If you are undergoing divorce and you want to sell house fast then you might want to sell to a cash buyer. If you are in bankruptcy, then selling a house to a cash buyer can give you the money you need as quickly as possible.
Other situations where selling a house to a cash buyer is suitable are homes in probate or in foreclosure. If you also need to move as soon as possible because of work then you might want to consider selling the house quickly to a cash house buyer.
If you have a house that has been vacant for years, trashed or damage, and you don’t want to go with all the trouble of cleaning it up, fixing it and upgrading it to look presentable to buyers, then better go for ‘we buy ugly houses’ companies that offer cash for your house.
Pros and Cons of Selling to a Cash Buyer
The only known disadvantage of selling to a cash buyer is that it won’t get you as much as money as you could potentially get by selling your house in the traditional way. But this probably won’t be an issue if your house is in need of a lot of repairs. You should also consider the fact that your earnings won’t be deducted by a real estate commission.
There are many advantages you can get from selling a house to a cash buyer. For one, the buyer already has enough cash to pay. No need to wait and worry about the buyer getting approved for financing. No need to worry about appraisals. Moreover, you don’t have to spend time and money for extensive repairs. The cash buyer usually will shoulder the closing cost.
As mentioned previously, selling a house for cash is a lot faster than the traditional route. It is also a lot more convenient. No need to clean up your house whenever a potential buyer comes to look at it. No need for listing and staging. And most of the legwork that comes in selling a house will be handled by the team of the cash home buyer company.