In situations such as foreclosure, relocation, job changes, bankruptcy, divorce, distressed properties that need repairs selling your house the conventional or traditional way may not be a great option. This is particularly true when you are looking to close quickly.
For such situations one of the best options for selling your house is CASH. With cash deals you could have the money in your hands very quickly.
Below are the top four benefits of selling your house quickly for CASH:
If you’re selling your house for cash, most of time there are no contingencies such financing or appraisals. This means you do not have to wait for a buyer to be qualified for a loan to purchase your property. This also means that fewer sales fall through and you can sell your house more quickly.
Once you accept a cash offer for your property, closing can usually occur in 1 to 3 weeks in comparison to a traditional/conventional sale which can take up to 6 to 8 weeks. Also, holding time and costs add up while waiting for a conventional sale to close such as insurance, utilities and taxes. In comparison, cash sales are more convenient especially if you are working on a deadline.
It is impossible to make your home “perfect” in the eyes of the buyer. Yes, you can stage your home to make it more attractive, however who has time to deal with the hassle of selling a house especially if you’re busy with your job, family among other things.
First of all you have to clean up the property. This means de-cluttering the interior and exterior of the house. Once everything is clean you now have to take pictures or hire a professional photographer to take top notch photos and make a good impression. All of this could mean time away from your family and other responsibilities. Selling your house for cash eliminates the hassle of having to deal with issues like repairs or home inspections.
With cash sales there is usually no middle man such a realtor. This means you as a seller do not have to pay commissions on the sale of your house which could pocket you more money in the end. Realtor commissions differ from state to state however hiring them can still cost you money. With a direct sale, you can say goodbye to realtor commissions and say hello to more money. For example, 6% commission on $100,000 sale price could mean $6,000 in savings!
Keeping the above 4 benefits in mind before accepting a cash offer from a potential buyer make sure that you review their proof of funds to verify the buyer actually has the cash available to close. It might also be beneficial to get an appraisal done of your property if you are unsure of how to price it.
Not sure where to start or what repairs are needed? Call Gold Path Real Estate today to get a no obligation repair estimate at 612-758-0071. Or click below for more information on how to sell your house fast.