Is Selling my House for Cash a Good Idea?
As a homeowner who needs to move out, selling your house in the most effective way possible is essential. You may be looking into house selling methods like selling for cash or through a real estate agent to see which one is most beneficial for you based on your current situation. Read on to learn about selling your house for cash and the benefits you can reap from it.
What does selling a house for cash mean?
Selling your home for cash means that a buyer or a reliable company will pay for the entire property in cash without any mortgage or complicated financial processing. They take the property off your hands and fix it up to put on the market in the future.
Why do home sellers prefer houses for cash companies?
According to Best Price Home Buyers and Sequoia, homeowners prefer selling for cash for the following reasons:
- No need to worry about repairs: Most buyers look for a house that is either completely repaired or almost there. If your house does not reach those expectations, buyers might request you to invest in repairs. A house-for-cash company avoids the burden and assumes the financial responsibility of repairs, so you don’t have to!
- Your home sells faster: If you are trying to sell your house quickly due to relocation for your job, financial reasons, etc., selling your home for cash is much faster than traditional methods. House-for-cash companies such as KC Home Buyer Group guarantee cash in your hand 7 days.
- Keep more money in your wallet: Selling a house can be expensive, considering repair costs, real estate agent fees, and closing costs. Selling your house for cash negates all of those extra costs.
Is it better to sell your house for cash or with a financed offer?
Let’s discuss the pros and cons of each, according to Nerd Wallet:
Confidence in the deal going through
A cash buyer can give you a decision right away, which helps make the process go by faster and lands cash in your pocket quicker, without negotiation.
Faster process
A cash offer takes a considerably shorter period of time compared to a financed offer. KC Home Buyer Group can give you cash within 7 days of placing an offer on your home. If you’re not in a hurry to sell your home, a financed offer may buy you some needed time.
Fewer contingencies
Cash buyers will usually not ask for contingencies such as inspection, mortgage, and appraisal, which can relieve some stress and extra costs.
Simpler closing
Cash buyers usually get the correct paperwork and gain the title through a real estate attorney. Since no loans are involved, reviews and sign-offs are needed, making the process a bit smoother.
No appraisal stress
You do not have to stress with differences in home value between the lender and buyer. Without a house mortgage, no appraisals are needed, so no worries about property worth based on an appraiser’s criteria such as location, condition, or how other homes around that area are selling.
Lower offers
Cash offers tend to be lower (as much as 12% compared to financed offers). However, it’s important to consider closing costs and other fees that come with a financed offer as well.
The types of buyers you are dealing with
Some cash buyers are less experienced, so they may require contingencies and not work with a real estate agent. This could make a deal more complicated. With a professional listing agent, this cash process can run smoother, or instead, you could hire an experienced real estate agent to help get your home off the market for a reasonable price.
Sell My House For Cash
Do we think selling a house for cash is a good idea?
YES!
Selling your home for cash is an excellent solution for you when it feels difficult or hopeless to sell your home. You should sell your house to KC Home Buyer Group!
KC Home Buyer Group 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!
We hope you have learned more about surviving the house-selling process and wish you luck!