Selling a house is the most stressful part of modern life. It ranks higher than going through a divorce or getting fired from a job.
Now, if you have to sell your house fast for any reason, then that might be the straw that breaks the camel’s back. Aside from the time constraint, you have to think about whether to use an agent or not, if you have to complete repairs and upgrades before listing, etc.
Who has the fortitude for all that?
Fortunately, there’s the option of selling a home for cash. You can close the sale within a couple of weeks while also evading the hassles and lengthy process of a traditional sale.
Need more convincing? Here are some of the benefits of accepting a cash offer on home properties.
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Save Time
The main appeal of selling a house for cash is speed. You don’t have to rely on a realtor who may or may not have the elite skills to sell your home as quickly as you need them to. And even if you can find a buyer right away, closing a conventional sale will still take a lot of time.
The usual suspect for this delay is the mortgage lending process. You have to wait for banks to approve a potential buyer’s loan. This can take anywhere from thirty to sixty days.
A cash sale can close in as little as two weeks. By not having to deal with a lender, you can save a significant amount of time.
If the words “I need to sell my house fast” keep occupying your thoughts, then selling for cash is a quick out.
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Save Time (Part II)
Assuming that time is what the seller values the most, here’s another reason why a cash offer makes sense. One of the benefits of selling a home for cash is that there’s less chance of the deal falling through.
The time between making an offer and completion is crucial. Sometimes, the buyer can’t qualify for the loan. Or it’s possible that they get cold feet during that period.
If the sale fails, then all the time spent trying to make the deal happen is wasted. Without the complications of lender financing, a cash transaction has a better chance of success.
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Save Money (Sort Of)
Let’s be real, if you want top dollar, then selling for cash isn’t the best route. Investors involved in all-cash deals are usually looking to flip your house for profit. Expect that the cash offer is lower.
However, if you factor in the costs of doing things the traditional way, you might not be getting a bad deal after all.
You have fewer fees related to mortgages and closing costs. You don’t have to pay the real estate commission, which is usually five to six percent of the sale price. Also, there’s no need to spend money on home repairs and home staging.
Save Your Sanity Selling a Home for Cash!
Probably the most significant benefit of selling a home for cash is that it’s far less stressful. There are just fewer things to worry about. Whatever you need the money for, you can get it quick and move on with your life.
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