Do Cash Offers Fall Through?
As a homeowner wanting to sell your home, you may consider a cash sale. However, there might be concerns as to whether cash offers always go through. Let this article teach you more about cash offers and answer your questions.
Can A Cash Offer On A House Fall Through?
According to I Buyer, cash offers can fall through. In most cases, they fall through because the buyer’s contingencies cannot be fulfilled. Despite the fact they can fall through, the likelihood of a cash offer falling through is very slim.
What Could Cause A Cash Offer To Fall Through?
I Buyer shares the reasons why a cash offer might fall through:
Some buyers run into personal financial issues, causing them not to have enough money to purchase the home, so they have to back out.
The house could have huge problems, causing the buyer to reconsider. Also, some buyers can have their contingencies too. With this, the buyer can back out anytime for any reason.
Buyers will search to see if the title is under your name. If that is not the case, this can be a problem, meaning you will have to find a way to get it under your name before the buyer changes their mind.
The buyer will know if you have taxes that are not paid off, and if that is the case, they will back out since it can make you seem unreliable.
Is Cash Offers More Likely To Be Accepted?
I Buyer states the following regarding if cash offers get accepted more:
“In general, a seller is much more likely to accept an all-cash offer than a financed bid on their home. This is because when selling a home, cash offers represent less risk to the seller, making them more confident with the buyer.”
Can You Back Out Of A Cash Offer On A House?
Bank Rate states the following about backing out of a cash offer if you do not have a contingency:
“Since you put that money down based on the promise that you would follow through with the contract, backing out for any reason that is not outlined in the agreement means the seller is legally permitted to keep your money.”
However, if there are contingencies placed, the buyer is able to back out of the offers for any of the reasons discussed previously.
Sell Your House For Cash?
If things feel difficult and hopeless, or you just want to sell your home online for cash instead, consider selling your house to House Guys!
Why Choose House Guys?
House Guys is an excellent house-for-cash company that can help avoid stress. You can make this happen with four easy steps:
- Fill out our form or call us about your property at 816-892-2132.
- We will contact you to set up an appointment if it meets our buying criteria.
- We will present you with a fair-priced, written, no-obligation offer.
- We will close at a local title company, and you will receive the cash in as few as seven days!
Visit us at our House Guys website to learn more.
We hope you have learned more about surviving the house-selling process and wish you luck!