7 Major Benefits of Selling a House for Cash

Selling a house for cash is a quick and easy way to get your home off the market. Here are all of the amazing benefits of accepting a cash offer.

More than six million homes will be sold across the US this year. Will yours be one of them?

If you’re selling a house for the first time, you might be surprised at how much work goes into the process. And you may become frustrated with how long everything takes since most homebuyers need to purchase a house using a mortgage.

However, you can avoid a lot of the hassle, and a lot of wasted time by selling a house for cash. When you bypass financed offers, selling a home gets a lot easier.

Wondering if it’s worth it to you to wait for a cash offer on your home? Here are seven reasons we think it’s worth it to sell for cash and move out the easy way. 

1. Sell a House Faster 

The biggest benefit of selling to a cash buyer is that the process is much quicker. Once you accept an offer, the closing process typically takes around 48 days for buyers who are getting a mortgage.

That’s because the mortgage approval process, inspection, appraisal, and underwriting take so long. As a seller, you simply have to wait it out before you can collect your money and move out.

But when you sell a house for cash, you skip all of those time-consuming steps. You can set your own closing date, regardless of a mortgage company, which can be as soon as a few days from when the offer is accepted. It just depends on when the title company has available to record the sale. If you’re in Woodstock, GA near Atlanta this website https://webuyhousesinatlanta.com/woodstock/ will explain the process in detail, there is no faster way to sell a house.

2. No Appraisal Needed

When buyers have to finance a home, they will need to order an appraisal. This is demanded by the mortgage company, as an appraisal will determine if the house is worth the purchase price. 

It’s a way for the lender to manage their risk levels. But if an appraisal comes back with a low number, the mortgage might fall through. Either the deal will need to be renegotiated, or you’ll have to put the house back on the market and look for another seller. 

Appraisals can also take a long time, especially during busy periods, such as summer, when many homes are sold, or during the holiday season. 

By selling your home for cash, there is no need for an appraisal to be done since there aren’t any lenders. 

3. No Contingencies

When a buyer is making a cash offer, they will almost always be contingency-free. They can buy the house since they have the cash in the bank. 

The offer won’t be dependent on them selling their current home, which is common for financed purchases. 

4. Less Likely to Fall Through

There are a lot of reasons a home purchase can fall through when it’s being financed. If an offer is contingent on the buyer selling their home for a certain price, but finding that they can’t sell for their desired price, they may need to back out of the home purchase.

Or if the appraisal determines the house isn’t worth as much as the purchase price, the offer may fall through. 

Since the closing process takes so long, often up to two months, a buyer’s financial situation can change. They might lose a job, or endure some other financial problems that would complicate the mortgage process.

But cash buyers won’t have any of these issues. The only reason a sale might not go through is if the buyer has an inspection done, and huge problems are discovered that would deter them.

5. Avoid Realtor Fees

Another big potential benefit when you sell a house for cash is avoiding realtor fees. Traditional home sales see 6% of the sales process go to paying realtors. This is split by the buyer’s agent and the seller’s agent.

And it’s always paid by the seller. So if you’re selling your home for $350,000, expect $21,000 to disappear on closing day.

But, if you sell your house to a local home buying company, you can avoid realtor fees altogether. So not only will you sell your home much faster, you can sell as-is, not performing and repairs, and avoid realtor fees

You can also avoid realtor fees by selling your home on the open market using the FSBO method (for sale by owner). However, this process takes a lot of time and can be quite stressful dealing with all the incoming calls and showings.

You’ll quickly see why most people hire realtors to handle this process. 

6. Sell As-Is by Selling a House for Cash

Cash buyers expect to buy a property that needs some work. They are often looking for homes with potential, not perfect, move-in-ready houses.

When you sell for cash, you won’t need to spend a bunch of time and money fixing up the property, or staging it to perfection. Obviously, some of those things can raise the value of your home, putting more money in your pocket. 

But if you’d like to keep the selling process simple, just get the house cleaned up and sell it as-is. 

7. Avoid Tons of Showings

If you decide you only want to sell to cash buyers, you can include that information in your home’s public listing. That way, you won’t want to deal with dozens of showings from homebuyers who are using a mortgage. 

You’ll get far fewer people coming through your door to look at the property. But all of them will be serious buyers with the ability to close on the deal in just a few days’ time.

This means less hassle for you, as you won’t have to keep the house clean for an extended period of time. You’ll only have to leave a few times, rather than on a daily basis. 

Sell for Cash for an Easy Transaction

Selling a house for cash is one of the best things you can do to save time, save money, and save headaches. Doing so bypasses most of the problems and delays that come with the home selling process.

If you’re willing to work with cash buyers and take a slightly lower purchase price, you can reap all of the benefits listed above for a smooth, easy transaction.

Looking for more home selling tips like this? Head over to our blog now to keep reading.