Selling a home can sometimes be a tedious and complex process. If you take the traditional route, you’d have a lot on your plate after listing your property. For instance, you’d have to make some minor or major repairs, screen buyers, negotiate with them, and wait for loan approval if they’re selling the property on a mortgage. Typically, it takes 55-70 days to complete the home selling process.
If you can’t wait this long, consider selling your home to cash buyers who can provide you with a seamless transaction. Consider these advantages in selling your property to home buying companies:
- You’ll Get Cash Fast
After listing your home on the market, you’d have to wait for prospective buyers to contact you and negotiate. Once you agree on a sale price, you’d have to wait for the buyer to get approved for a mortgage loan. However, the buyer-borrower may get rejected, so the sale can fall through. This is a problem if you need cash right away to pay for debts or as a down payment for a new home, among other things.
On the other hand, buying companies like Gem State Cash Offer and others can provide you with cash payments regardless of your home’s condition. This way, you don’t have to deal with prospective buyers and perform repairs or conduct home viewings. If you want to get money from your property in the fastest and easiest way, selling it to a cash buyer is the way to go.
- You’ll Save Time
Because of the multiple steps involved in listing your home on the market, home selling takes time and can get complicated. You’d have to spend both time and cash just to pull things through. If the home sale with your first buyer doesn’t take place, you’d have to start from scratch, and this could delay the transaction further.
Inversely, cash buyers can complete the process from a few days to two weeks. After checking your home and coming up with a value that’s favorable to both parties, you can initiate the selling process right away. This way, you don’t have to deal with hundreds of buyer inquiries, home staging, repairs, inspections, and so on.
- It’s Effortless And Convenient
Because cash buyers don’t require home sellers to make any improvements or repairs, sellers don’t have to do anything to attract more buyers. This means you won’t have to repaint, clean, re-caulk, replace, or do things you’d normally do to sell your home faster.
Fixing a property requires time and money even if you decide to do it on your own. You may save costs as compared to hiring a contractor, but you still have to shell out cash to replace small things such as door or cabinet handles, window screens, or faucets and showerheads.
Property cash buyers will take charge of rehabilitating or remodeling your home. This is highly convenient for sellers who don’t have time to repair and renovate the house.
4. You’ll Get All The Proceeds
Transacting with cash buyers also gives you the added benefit of receiving the sales proceeds in full. With cash buying companies, you no longer have to pay real estate agents with commission fees for helping you sell your property. Depending on the services extended, agents may ask from one to six percent of the total sales price. This means you’ll only get USD$282,000 if you sold your home for USD$300,000.
Cash buyers will deal with you directly. Hence, you don’t have to share the proceeds with anyone else. Any cash offered to you by these companies will go straight into your pockets.
5. It’ll Save You Costs
There are costs associated with selling a home apart from agent fees. For instance, you’d have to spend for minor and major fixes, as well as for inspections and appraisals.
Depending on the scope of damages and works needed, these may cost you from a few hundred to a few thousand. According to a survey conducted by Home Advisor, inspections can cost a home seller from USD$279 to USD$399, depending on the location and property size. Some homeowners revealed that they spent USD$750 for both a home inspection and appraisal.
You can forego these activities and payments if you offer your property to cash buyers who’d send their appraisers at no cost to you. Home sellers are becoming increasingly keen on selling their properties in cash. From 17,000 transactions in 2009, the number of homes sold for cash has increased to 36,000 in 2020, according to Statista.com.
Apart from receiving your money when you need it, selling your property to cash buyers guarantees a stress-free, cost-saving, and secure transaction. Due to its straightforward processes, home sellers won’t have to face frustrations over bungled transactions because of mortgage application and title problems.