Cash sales are not as common as traditional home sales and this has led many to be skeptical of them. However, a cash sale is a great option for anyone who wants to sell their home quickly. They offer far more convenience and they simplify the process as a whole.
Defining a Cash Sale
The biggest difference between a cash sale and a traditional sale is how the home is purchased. In a traditional sale, your buyer will apply for a mortgage loan and wait for approval before the sale can go forward. In a cash sale, your buyer will have all the money for the home upfront and won’t need a mortgage of any kind. Without waiting for a mortgage loan to be approved, you can move on with the process of selling your home much quicker. In most cases, cash sales allow you to sell your home in less than 30 days.
Why Sell for Cash
In addition to being faster, cash sales are also more convenient. A majority of cash buyers will purchase homes as is which means you don’t need to spend time making repairs on your home. Cash sales also don’t require you to get a real estate agent. You can sell your home on your own and call the shots. This also means you don’t need to host open houses or even home viewings if you don’t want to. Not working with a real estate agent also saves you a lot of money when it comes to closing. In a typical sale, the seller pays the commissions of both real estate agents and this usually amounts to about 6% of the sale price. No realtors means fewer expenses for you.
Find a Buyer
Now that you know more about cash sales, your last step is figuring out how to find a buyer. You may find cash buyers on regular home listing sites. This is especially true if you market it as a “fixer-upper.” Some individual cash buyers prefer buying homes as is so they can fix them up themselves and sell them again. If you want a more direct approach to finding a buyer, you can try exploring home buying companies. These companies are easily found online and provide you with simple online portals that help you get an offer. All you have to do is enter information about your home and you can get an offer in as little as 24 hours.
Cash sales may be less common, but they are definitely worth exploring. They are ideal for anyone who wants to quickly sell their home and move on to a new situation. Finding a home buying company can help speed up the process.
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