the Advantages of Selling Your House to a Cash Buyer
Moving out and selling your old house can be very stressful. From dealing with lenders, potential buyers and Realtors, you are bound to face several challenges. Fortunately for homeowners, there are other options besides putting their houses on the market. Selling directly to cash buyers is a great option for homeowners eager to save time and money. Here are some reasons why selling to cash buyers is a good option.
When transacting via cash home buyers, the likelihood of deals falling through is minimal. In real estate, deals have a tendency of falling through e.g. when both parties have reached agreement and are ready to close the deal that the buyer’s lender fails to approve a loan for the house. Since typical buyers do not have a huge reserve of cash to finalise the transaction, the deal ends up being terminated. Sellers need not worry about this when dealing with cash buyers since they always have cash in hand. The transaction has higher chances of success if the deal is not dependent on the mercy of third-party lenders.
You are saved of the need to do any deep cleaning or renovations since cash home buyers accept houses as they are, implying that they do not seek houses with the latest features of houses in immaculate condition. More often than not, cash buyers purchase houses with the intention of remodelling or repairing them later, therefore relieving sellers the need to do so. If you list your house on the market, should be aware that most buyers are not eager on acquiring houses they need to fix up, which increases the likelihood that you will incur costly upgrades and repairs.
Arguably, no one enjoys having strangers work in their houses for assessment, which is one of the things that must happen when people list their houses on the market. By selling your home directly for cash, you no longer have to deal with strangers walking around your house. After conducting the initial meeting with the cash buyer at your house, there is no longer any need of bringing people to assess the property. The other advantage of this is since no visitors will be coming to your house for showings, you do not have to spend too much time and effort in deep cleaning.
Besides saving money by not having to do repairs, you keep all proceeds from the sale since you do not have to fork over a portion of it to real estate agents in agent fees and commissions. Commissions from proceeds of the house sale account to roughly 6%, meaning that sellers could possibly pay real estate agents thousands of dollars. Selling directly means homeowners ultimately get more cash from the transaction since they bypass such fees.