Did you know that 36% of homeowners in America sell their properties for cash? Selling for cash is an ever-growing trend because there are so many advantages to it. For many people, it takes the whole hassle out of selling a property.
However, selling a house for cash isn’t for everyone. It’s important to weigh up the pros and cons of a cash sale. So, take a look at everything you need to know about the advantages and disadvantages of selling for cash.
The Advantages
For a lot of people, a cash sale means having the freedom to move on quickly which can be advantageous in many situations. For example, when you’ve lost a loved one, have gone through a divorce, or need to move quickly for a new job. Here are some of the things that sellers find appealing about cash sales.
Sell As-Is
When homeowners sell their properties on the market, most have to spend money on modernizing or correcting problems. It may even be a request of the new buyers that owners spend money on the property before they agree to buy. Selling your home for cash means you won’t have to pour any more of your money into the property.
Cash buyers are often happy to purchase the property as seen. In some cases, you may not even have to go through a property survey before receiving a cash offer. If you want to sell your home without making any repairs, a cash sale could be for you.
Avoid Fees
Selling on the market often means the use of a realtor and realtors come with fees. You may be charged for the marketing of your property and your realtor may take a commission on the sale. You’ll also need to pay solicitors fees that are often more costly when selling your house on the market because of the lengthy time it usually takes.
Selling your home for cash means you can avoid having to pay these fees. You won’t need a realtor if you’re offered a cash price by a buyer and any solicitor’s fees are kept to a minimum.
Quick Sale
Cash sales are often quick sales. They can be completed within weeks, whereas market sales can take months or longer. The process of an offer to purchase is far less complicated than a cash sale and many people find it takes them longer to pack than it does to sell their home.
Properties that have been left in wills to family members or friends are often prime candidates for cash sales. It means the new owner can pass on the property quickly without having to take on unexpected expenses. It can often make the process less painful, especially for someone still grieving.
No Staging
Staging your home for viewers can be stressful and tiring. While your house is on the market it can feel like you have to keep it in the perfect condition for potential buyers. This can be even more difficult for families with young children.
When you sell for cash, you don’t have to worry about your house looking perfect all the time. You won’t have to stage any part of your home for anyone.
The Disadvantages
Although a cash offer can be attractive for any owner who doesn’t want to put anything further into the property, there are some disadvantages too. Before accepting a cash offer, you must examine every option. Here are some reasons you may think twice about a cash sale.
Low Offers
Cash offers can often be lower than the property would be valued. It’s wise to expect to receive less if you opt for a cash sale. Cash buyers will look to save money by offering less than the value of the property so they can quickly make a profit when they sell it.
It’s up to you to decide whether the offer is worth taking or not. If there’s only a small difference in price, it may be worth your while but if the cash value is as big as 50% less, you may decide to sell on the market instead.
No Guaranteed Sale
Just like selling a property on the market, a cash offer isn’t a guarantee of a sale. Even if you receive a cash offer that you’re happy with, your property won’t be sold until all contracts are signed. Make sure the company you’re working with has a good reputation and excellent reviews from past clients.
Sell to Fast Cash Home Buyers
If you think selling for cash is suitable for you, Fast Cash Home Buyers in Long Beach, CA is your best choice. We pride ourselves on offering practical solutions and support to our customers. We’ll make you a fair cash offer on your property within 24 hours and you can even choose your closing day.
We cover the costs of any repairs and closing costs so you don’t have to think about it. We don’t take any selling commission and we’re happy to make the process as quick and hassle-free as we can for you. Why not take a look at what our customers have said about us?
Is Selling a House For Cash For You?
Selling a house for cash has pros and cons and each seller has a different situation. Whether selling for cash is right for you will depend on your immediate requirements. If you want to be rid of the property quickly, selling for cash can present you with the ideal solution.
At Fast Cash Home Buyers, we’ll make sure you have the best experience when you choose to sell your home for cash. Contact us today for a cash offer you can’t refuse.