Are you preparing to sell your home but aren’t sure if the traditional route is your best option? If so, you’re not alone.
While most people immediately run to realtors to help them list their homes on the real estate market, this isn’t the only way. There are countless other home-selling strategies that could work for you.
For example, selling your house to a cash home buyer can save you a lot of time, money, and frustration. But do you know how to sell a house for cash?
If not, don’t worry, we’re here to help. Keep reading for a complete guide on selling a house for cash and why you might want to consider this fast and convenient option.
Who Should Consider Selling a House for Cash
The first question we need to answer is why it’s important to learn how to sell a house for cash. The truth is, selling a house for cash might not be for everyone. For some people, however, it might be their best or only option.
For example, you might be facing a tight deadline on when you need your home sold. This could apply to people who:
- Are facing foreclosure
- Are going through a divorce
- Are being relocated for work
- Have inherited a home they don’t want that’s costing them money
Conversely, you might need to learn how to sell a house for cash if you lack the funds to sell your home traditionally. Did you know that the average home seller spends over $21K prepping their house for the market?
If your home has a lot of damage, is outdated, or otherwise needs work, it can be incredibly expensive. If you don’t have the financial means to take care of these issues, selling your house on the market will prove difficult, if not impossible.
Fortunately, most cash home buyers will buy homes regardless of condition. Let’s take a look at some of the other perks of working with a cash buyer.
Don’t Worry About Hiring a Realtor
One of the biggest expenses that come out of your home selling price is your realtor fees. Most realtors charge a minimum of 3% in commission fees. This means a home sold for $375,000 will cost the seller $11,250.
Furthermore, in most real estate transactions, the seller pays for their realtor and the buyer’s realtor. This would double your realtor fees, costing you $22,500.
However, if you learn how to sell a house for cash, you don’t have to worry about hiring an agent. You can work directly with the cash home buyer and avoid these exorbitant fees.
No Renovations or Repairs
Earlier, you learned that most home sellers dump over $20K into home renovations and repairs to prep their homes for the market. If you decide to sell to a cash home buyer, you won’t have to go through the expensive and time-consuming efforts of preparing to sell your home.
Instead, you can leave your home as-is, rest assured that you’ll get an offer either way. If you’re trying to sell your home quickly or have a limited budget, this can be quite comforting.
Skip the Appraisal and Inspection
Since there is no need for repairs or renovations, there’s also no need to hire a home inspector to come out to your home. The average cost of a home inspection in the United States is $339. While this isn’t a ton of money, every additional cost is impactful if funds are already tight.
During traditional real estate transactions, official home appraisals are also required by the buyer and/or their lender. This is another $300 to $450.
Just as importantly, these services take time to schedule out. In many cases, homeowners have to wait two or more weeks to get an inspection and appraisal. If you need to sell your home immediately, this presents a problem.
However, if you learn how to sell a house for cash, you can skip both the appraisal and the inspection. The only inspection will be from the cash home buyer who will tour your home once in order to provide you with an accurate cash offer.
No Home Tours or Open Houses
When using traditional home-selling strategies, homeowners must open up their homes to provide tours and open houses. At first, it’s not a big deal.
However, after dozens of walkthroughs and countless insatiable buyers parading through your home, it can begin to feel tedious. Even if you have a realtor handling all the tours, you’ll have to leave your home anytime someone wants a look. Not only will this interrupt your life, but it can create a lot of stress in your home life.
How Selling a House for Cash Works
Finally, let’s talk about how to sell to a cash home buyer. Learning how to sell a house for cash is exceptionally easy and straightforward.
As you have seen, you can skip a lot of the tedium involved in traditional real estate sales. This, of course, will save you a lot of time and money.
The first step is contacting a cash home buyer, like Selling.House. Request a free cash offer and they will send someone to inspect your home to give you an accurate and fair valuation. You should receive a same-day offer for your home.
If you don’t like the offer you’re given, you’re under no obligation to accept it. In this case, you just say “thanks, but no thanks” and try a different method of selling your home.
If you accept the offer, you’re allowed to choose the closing date that’s most convenient for you. If you need to close as soon as possible, most cash home buyers can close in as little as a week.
Do You Understand How to Sell a House for Cash?
Are you thinking about selling your home to a cash home buyer? If so, we hope this article provided some insight on how to sell a house for cash. Follow the guidance above to get the best outcome while selling your home.
And if you’re looking for more homeowner advice or real estate tips, stick around. Look through some of our other articles before you go to find everything you need to improve your life.