There's a good chance you've seen those signs or commercials offering cash for houses. Many people automatically assume that such offers represent scams or "too good to be true" type schemes. The truth is, there's actually many good reasons for you to sell your house for cash. Here's what you need to know.
Why Would You Sell Your Home for Cash?
There's several scenarios in which a quick sale for cash is the best option. You may find yourself in any of a number of these situations.
- Is your listing about to expire with no potential buyers lined up?
- Are you going through a divorce or a bankruptcy?
- Is your home currently in foreclosure?
- Have you not lived in or used your home for some time?
You may even just have given up on your property and want it gone. Maybe it's in disrepair, and the cost to fix it up doesn't seem worth it. For one or more of these reasons, you can consider getting rid of your home fast by selling it for cash.
Who Buys Homes for Cash?
Generally, investors and house flippers will buy your home for cash. They will take it, spruce it up, and try to sell it just as quickly as they purchased it for a profit. Because of that profit consideration, an investor may offer you less for the home than its list price or market value. However, you may find it's worth it, in exchange for the quick sale. In addition, it can still balance out for you in some cases.
- No real estate related commissions
- Investors purchase "as is" (no repairs, inspections, or appraisals)
- No waiting on financing approvals
- The purchase won't "fall through" at the last minute
In addition, there's no guarantee that you will lose out on much money. You can still negotiate and make your own demands on how the purchase can take place. Closing can take place in a far shorter time. You will have your home sold and be on your way to whatever's next in your life.
You Shouldn't Go It Alone, Speak to a Professional
You should speak to a real estate professional like those at Home Remedies LLC about a cash sale. A real estate agent or broker can vet the investor and let you know if the offer makes sense for you. Or, they can handle the whole process, and help to sell your home for cash to the highest bidder.