The process of selling a home can be incredibly daunting. In fact, one study found that more Americans were stressed out about selling their house than they were about becoming parents, getting fired, or planning a wedding.
If you are considering selling your house, you might be wondering what your options are the process quick, easy, affordable, and low stress.
One option you might consider is selling your house for cash. This process is much faster than selling your house on the traditional market. While there are pros and cons to this method, you might find that it is appropriate for your circumstance.
If you’re thinking about selling your home for cash might be the right option for you, stick with us as we go through why and when you should sell a house for cash.
When You Want to Sell Fast
The most obvious reason for selling a home now to a cash buyer is simply that you want to sell your house fast. For many people, having a speedy, convenient, and hassle-free sale is more important to them than squeezing out every possible dollar in a long, drawn-out process.
Real estate investment companies are capable of buying houses for cash and an incredibly quick and efficient manner. Compared to traditional real estate transactions, the closing process can happen very soon after the offer has been accepted.
For all cash transactions, it is typical for closings to occur in 7 to 14 days. Sometimes they can happen even faster than that.
If you’re wondering how to sell a house fast, check out sellhousefast.com.
When You Don’t Want to Do Repairs or Boost Curb Appeal
One of the benefits of selling a home for cash is that you can sell your house as is. This means you do not need to spend months making repairs, renovations, and upgrades in order to make your home appealing to potential buyers. You also won’t have to worry about the cleaning and decluttering you would typically do for a traditional house sale.
Instead, you can sell your house to an investor without investing any time or money yourself into sprucing the place up.
When You Don’t Want to Pay a Real Estate Agent
Many people are wary about how much money it costs to hire a real estate agent. Real estate agents typically get 3 to 6% of the sale price in the form of commission. When you are talking about a property that is selling for hundreds of thousands of dollars, this can become a pretty hefty fee.
While some argue that using a real estate agent can help you profit more than selling for sale by owner, others might appreciate being more in control of the process. When you sell a house fast for cash, you neither have to pay a real estate agent nor take on the responsibilities of a real estate agent as you would if you sold FSBO.
When You Don’t Want the Stress of Selling a House to a Traditional Buyer
Selling a house is incredibly stressful. It can take months to prepare a house for the market and then there is no telling when you will start getting offers.
Even once you do get an offer that you find acceptable, then it typically takes another month or two to close. During this time, it is hard to relax until the sale has officially gone through. This is because, at pretty much any time, the sale could fall apart and you could be left starting over from scratch.
Traditional buyers are typically getting financing from a lender like a bank. Having a bank be a part of the process will only slow things down and make them more complicated. There is always the chance that a bank will find issues for the property and refuse to offer a loan for it or that there will be problems that arise in the buyer’s finances that leads the bank to not want to loan them how much the house is worth.
You will not have to endure this kind of long-term stress when you sell your house for cash. Instead, the process can be started and completely done within as little as seven days.
When You Don’t Want to Worry About Showings and Open Houses
One of the most disruptive aspects of selling a house is the need to constantly keep your house in pristine condition. Not only that, but you frequently have to vacate your own house on short notice for showings. This can really interrupt your daily life and routine for months at a time.
You will not have to worry about this type of thing when you sell your house for cash. Instead, the company or investor buying your house will typically give it one visual inspection and then be own their way.
When You Want to Move Based on Your Own Schedule
Another very frustrating thing about selling your house is that your own schedule can be left up in the air. When you move out ends up depending on when your house sells and when the closing is. On top of that, the closing can get pushed back leaving you paying for the expenses of two houses at once.
Many people deal with this issue by getting temporary housing for a while. However, this can be expensive and leave you and your whole family uncentered.
When you sell your house to a “cash for houses” company, when the closing happens is entirely up to you. This means that you can be in control of your own schedule and therefore able to determine the best moving date for you and your family. If you are buying another house, you can time the closing so that you are spending the minimum possible amount of time paying for two places.
When You Want to Avoid Contingencies, Inspections, and Appraisals
One particularly stressful aspect of selling a house in the traditional fashion is the lack of control you have over inspection reports, appraisals, and the power that contingencies give the buyer.
When you sell your house for cash, you won’t have to spend two or three weeks fretting about any issues that showed up on the inspection report. You also won’t have to worry about the buyer trying to renegotiate or backing out at this point. Investors who are buying your house for cash will typically do a walk-through and give you an offer without any further inspection or negotiation.
You also won’t have to worry about having an appraisal or appraisal contingencies. Since a bank will not be involved, there is no need to have a professional appraisal done. This means that can’t face the setback of the bank coming back with a price under the agreed-upon sale price.
When You Inherit a Property
Sometimes being left a property by a loved one can feel a bit more like a burden than a gift. Houses and properties must be regularly maintained, so this inheritance is something that will likely cost you on a monthly basis. Depending on the condition of the house, you might have to do quite a bit of work on it before you could try and profit from it either renting it out or selling it on the open market.
Selling your inherited house for cash is a reasonable option if you simply want to dump the responsibility of owning the place as quickly as possible. This is particularly true if the property that you inherited isn’t located anywhere near where you live.
When a Major Life Change Is Motivating You to Sell Fast
Sometimes, occurrences in our lives make it so we need to make a move pretty quickly.
This might be a surprise job offer in a new city, a divorce, or a death in the family. Whatever your reason for wanting to move fast, selling your house for cash offers you the option to do so.
Sell Your House For Cash: Is It the Right Option For You?
Whether or not selling your home for cash is the right decision is something only you can decide. For some people, they might be motivated to go through the longer process of selling their house on the traditional market so that they can profit as much as possible. For others, though, they might find that the time-savings and stress-savings when you sell a house fast for cash is more than worth it.
It’s important to use caution when finding a “cash for houses” company, though. Make sure you do your research before hastily selling a house today to the first company you find. There are companies and people out there that are trying to scam people, so it’s important to keep your wits about you.
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