Advantages of a Cash Offer on Your House
If you’re considering selling your house, have you thought about how you’ll sell it? If you work with a real estate agent, you’ll have to do tons of work to get your house ready for listing. You’ll need to identify and pay for any necessary repairs and will also need to clean extensively, improve your curb appeal, declutter, and depersonalize your home.
If you’re not keen on working with an agent because you know realtor commissions will eat a large chunk of your profit, you can sell your house for sale by owner (FSBO). But taking that route involves a lot of work too, and if you don’t know how to market your property, you could have trouble selling it.
If neither of those options sounds like a good fit for you, there’s still one left. You can choose to sell your house to a cash home buyer — these buyers are real estate investors — and you won’t have to do any major work before you can sell.
Why might you want to choose that last option? Read on to learn about the many advantages of getting a cash offer on your home.
You’ll Save Tons of Money in Commission and Selling Fees
Getting a cash offer on your house will save you a considerable amount of money. Unlike realtors, cash home buyers don’t charge commission fees on the sale, and avoiding those fees can save you tens of thousands of dollars.
Let’s say your house sells for $120,000. Realtor commissions range from 5%–6% of the sale price, so if you work with an agent, you’ll pay $6,000–$7,200 in commissions alone. You’ll also have to pay closing costs and other transaction fees that will likely run you another few thousand. All told, selling your house with a realtor can cost you up to 9% of its total sale price. That’s a big chunk of change.
Cash buyers don’t charge those fees, so when you close the sale, you’ll take all that cash to the bank. If you only read this far, that perk alone is reason enough to get a cash offer on your house.
You Can Sell Your House Fast
When you list your house on the open market, either with a realtor or FSBO, there’s no telling how long it’ll take to sell. It could take a week, or it could take several months because you’re depending on interest and offers from prospective buyers.
After you get an offer and are under contract, the closing process can take a couple of months too, so you may be disappointed if you’re looking to sell your house quickly.
When you get a cash offer on your home, you can sell it in a matter of days. Cash home buyers are real estate experts and can typically close on a sale within a week or two depending on how quickly you’d like to conduct the transaction. If you need to avoid foreclosure or get out from under an upside-down mortgage, selling for cash may be your best option.
Cash Buyers Have Capital on Hand
Listing your house on the open market almost always means you’ll need to wait for prospective buyers to get approved for a mortgage, and that can take a while. Mortgage approvals can also fall through, and that’s a primary reason many contingency deals fail.
When you get a cash offer, the buyer literally has the cash on hand to purchase your property. You never have to wait for a mortgage approval process or worry about a buyer of this type walking away. Once a real estate investor makes you an offer, that means they’re seriously interested in buying your home and have every intention of doing so should you accept the offer.
You Don’t Need to Worry About Making Home Repairs
Selling to traditional buyers means you’ll need to take care of any repairs that your home needs because your home must pass a prepurchase inspection before you can close the sale. If your home needs major repairs — like electrical work, foundation work, roof repairs, or plumbing work — those things can cost you tens of thousands of dollars.
You don’t have to worry about making repairs when you work with a cash home buyer. You can get a cash offer on your house even if it needs tons of work. And you can close a cash sale with a real estate investor without sinking any money into your property.
You Can Sell Your House As Is
Don’t want to declutter and stage your house? Don’t want to invest in your curb appeal so you can impress prospective buyers? When you get a cash offer on your home, you don’t have to do any work on your house before you can sell it.
A cash buyer will purchase your house in as-is condition, no matter what it looks like. These types of buyers purchase homes, fix them up, clean them, and then rent them out or sell them for a profit. They won’t ask you to do any work because they’ll take care of the necessary repairs, renovations, and cleaning after the sale.
Want to Sell Your House Fast? Contact We Buy Houses Birmingham
If you’re looking to sell your house quickly and want to avoid the hassle and expense of working with a realtor or selling FSBO, our team at We Buy Houses Birmingham is here for you. We purchase as-is homes throughout Birmingham and the surrounding areas, and we can close your deal in a matter of days. We don’t charge commissions, and we offer flexible selling timelines to accommodate virtually any need.
To get a cash offer on your house or learn more about how we work, feel free to give us a call today at (702) 850-8001. You can also fill out our contact form to request a no-obligation offer, and we’ll be in touch right away.