Since I started BenBuysIndyHouses, I am frequently asked about why people choose to sell their homes for cash. Today I’d like to share the top 5 reasons to sell your house for cash, and how an all-cash house sale can benefit you. If you’re considering selling your home, you should really take the time to think about these points and how they might make your life a little easier during the selling process.
Top 5 Reasons to Sell Your House for Cash
These benefits have not been lost of home sellers, as cash sales have maintained a presence in the market for the last decade. In 2017, nearly one in fivehomes sold in the Washington, D.C. region were cash sales, while according to the National Association of Realtors, 23 percent of all home purchases in January of 2017 were cash sales.
When you sell your home in the traditional way on the open market, realtors often recommend that you clean and stage your home. Realtors may schedule open houses or times in which they need you, your family and your pets to leave your home in order to allow prospective buyers to tour the property.
If you choose to sell your house on a cash basis, these steps aren’t necessary. You won’t need to make sure that your home is available for a walk-through with prospective buyers, there’s no need to stage, organize or disrupt your personal schedule.
No Renovations are Needed
When trying to attract buyers, home sellers often do a variety of renovations. Repainting, carpet replacement or repairs that can be as small as leaky faucets to large items such as re-roofing may all be requested by the buyer in conjunction with the offer they make. If you sell your home for cash, you can avoid these concerns. Your home is purchased as-is, where is, for a quoted price that you can negotiate.
Cash sales are Usually Fast
If you list your home on the housing market, there is no guaranteed sell-by date. You may be able to close a sale on your home fairly quickly, but there are also homes that sit on real estate listings pages for months or years. Even after you receive an offer on your home, you still have to wait for the traditional home-selling process to complete. This could include multiple inspections and the buyer obtaining financing. If the buyer can’t finance the home or if the house inspection reveals major concerns, you could be faced with repairs or the potential sale of the home being canceled.
Selling a house for cash is usually accomplished within 30 days or less. This is a very fast and easy process that avoids the rigors of inspections and financial backing. When you receive an offer on your home in a cash-sale, all you have to consider is whether or not the amount of money offered is a price you can agree to.
You Won’t Pay Agent Fees or Listing Fees
Traditionally, when you use an agent to help you sell your home, you are faced with paying either a flat-rate fee to the agent or a percentage of the sale price in commission. While you may be able to have a portion of this fee relayed to the purchaser of the home, you will always be responsible for some of the payment.
If you decide to place your house for sale without an agent on a For Sale By Owner site, you’re then paying listing fees out of pocket to be able to show your property to prospective buyers.
By following these top 5 reasons to sell your house for cash, you avoid these concerns entirely. You are not responsible for any agent commission or fees, and there is no need to pay for a site to host your listing. The cash offer that you receive won’t be reduced by any of these additional expenses, which keeps more money in your pocket.
In short, selling your house for cash can be a great way to make a deal quickly without going through a lot of hassle, stress and expense. There are numerous reasons why people decide to sell their homes for cash. Most of my customers come to me when they inherit a home, their children have moved to college and they want to purchase a smaller home, to pay off debt so they can retire in ease, or simply because they have a lifestyle change.
I value all of my customers and work to give them the best offer available on their home and close the deal in the shortest amount of time. I love the video testimonials that I receive from my happy customers, just like this one:
I’m Ben Grise, from BenBuys IndyHouses. I’m happy to run a BBB Accredited business, and I take pride in offering the best customer service to my clients. If you are considering selling your home for cash, please contact me.