Are you putting your house on the market?
There couldn’t be a better time to sell your house than now. Most of 2021 has been a seller’s market, which means your property could fetch more all while staying on the market for a short time.
Before you start counting the dough, though, there’s a selling process that you have to complete. Selling a house involves many steps, and one of the decisions you have to make is whether to sell it for cash.
Selling a house for cash comes with a number of big benefits. Continue reading to learn why cash is king!
Good for a Quick Sale
On average, homes stay on the market for about 25 days.
Sounds like a short time? It’s, but that’s not the full story. After receiving an offer, it will take another 30-40 days to close the sale – that’s if the purchase needs to be financed by a lender. In total, you’re looking at over two months to close the deal.
What if you’re looking for a super-quick deal? Perhaps you want to relocate urgently and need the house sold before you can move. It’s possible to sell a house in a week or less, but only if you’re selling it for cash.
Cash transactions are quick. A prospective buyer can see the home today, make an offer, and if accepted, make the payment the next day – as long as they have the money sitting in their account.
Of course, your home needs to be attractive to cash buyers. These tips will help you prepare your home accordingly.
Save Money
To make the most money off the sale of your property, it’s not just about slapping a higher price tag on it and accepting the highest offer. It’s also about doing what you can do to minimize the costs that come with selling a home.
One of the biggest costs is agent commission (about 5 percent of the closing price). When you’re selling to a mortgage buyer, it’s hard not to have a seller’s agent. There’s usually a lot of showings, paperwork, and negotiations involved that hiring will make your work much easier.
However, when you’re selling a house for cash, you don’t necessarily need to hire an agent. Cash transactions don’t involve a lot of paperwork, so you can easily close the deal without needing any professional help.
When selling a house for cash, you can find a buyer without needing to make any repairs or upgrades to the home. You just need to be prepared to accept lower offers since buyers will take into account the money they’ll use to fix the home.
Selling a House for Cash Is a Boss Move
When you set out to sell your home, you don’t really care who buys it, as long as they’ve made the best offer. However, if you’re in a rush and want to save money, selling a house for cash is the best move.
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