When you decide it’s time to sell your home, there are several ways you can go about doing this. Two of the most common, however, are selling through a real estate agent or selling to a cash buyer.
Real estate agents are the more traditional route. They help you stage your home for sale, find suitable buyers, and help you navigate the selling process to make it as easy as possible for you.
Cash buyers, on the other hand, simplify the process by evaluating your property and giving you a cash offer for your home. You’ve probably seen the billboards or gotten advertisements in the mail from these people. It may seem too good to be true, but for many homeowners, this ends up being the best option.
So, why would you choose a cash buyer over a real estate agent?
Cash Buyers Buy Homes As-Is
First and foremost, cash buyers allow you to sell your home without worrying about renovations. Things like repainting your walls, fixing damaged floors, or replacing shingles on your roof can take a long time and cost a lot of money.
Typically, these renovations need to be completed before selling through a real estate agent. Cash buyers, however, are willing to buy your home as-is and handle any necessary renovations themselves before flipping your property.
Cash Buyers Offer Convenience
Selling to a cash buyer is simply more convenient than selling through a real estate agent for a lot of homeowners.
When you’re just trying to move on and sell your home quickly, you might not be interested in staging your home, holding open houses, or negotiating with buyers.
Cash buyers handle all of these things themselves. Once you sell your home to them, these buyers take everything off of your plate.
Cash Buyers Eliminate Fees
Typically, selling your home comes with a lot of fees that you have to cover. Real estate agent commission, closing costs, inspections, appraisals, holding costs, and more can eat into your profits. Commission, in particular, can be a significant cost as it’s usually around 6% of the final sale price.
Generally, cash buyers handle closing costs themselves and don’t require any commission. In some cases, this might end up saving you money when it’s all said and done.
Cash Buyers Save Time
Lastly, and perhaps most importantly, is that cash buyers simply save you a lot of time. As mentioned above, you will save heaps of time by not having to deal with staging, open houses, negotiations, and post-sale formalities.
Additionally, you’ll also generally receive your money much faster this way. Cash buyers can evaluate your house quickly and may be able to give you a cash offer in as little as a few hours. After accepting the offer, it might take as little as five days to close the deal. Alternatively, financing deals that you would typically get when selling through a real estate agent can take several weeks to close.
Real estate agents are typically people’s first option when they choose to sell their home. However, due to the many benefits offered by cash buyers, more and more people are choosing to sell their home quickly for cash every day.
Cash Homebuyers FAQ
What Is A Cash Homebuyer?
If you are selling your home to a cash buyer, you can sell your home to them without any hassle of the closing fees, realtor fees, or even listing fees. This also means that you will get to keep the total amount of whatever the cash buyer offers you for your home.
How Long Does It Take To Buy A House Cash Buyer?
It usually takes as long as the purchase and acceptance of the offer is made from the owner of the home with the cash buyer. If you can provide proof of the funds (assuming you do not have all cash) then the transaction can be made with a cash buyer and can take as little as 2 weeks or less.
Does Paying Cash For A House Lower The Price?
The price of the home can be reduced depending on those who pay in full up front. If the person selling their house is selling their house to a cash homebuyer, then the cash homebuyer will make an offer on the home and at that point the homeowner will make the decision to accept the offer or not.
A cash homebuyer is someone who doesn’t need to take out a mortgage or sell anything in order to buy a property that is on sale to “Cash Buyers Only”.
Does Cash Buyer Mean No Mortgage?
Incorrect. If a buyer does not have the cash available at the time that the offer is made, then they are not cash buyers. The official definition of a cash buyer is; “Someone who is able to buy, without needing to take out a loan or mortgage.”