In 2020, around 24% of homes sold were bought with cash which shows it's an attractive option for homeowners.
Selling homes for cash streamlines the process saves you money and is hassle-free. Perhaps you're on the fence about selling your home for cash and you're not sure whether it's worth it.
Sounds familiar? Luckily, you've come to the right place. Here are five reasons to sell a home for cash.
1. A Guaranteed Sale
When you sell a house traditionally, you have to post high-quality photos and hope that buyers fall in love with your listing. But when you sell a house for cash, you're guaranteed a sale and you needn't worry about wooing prospects as they're ready to close the deal.
When you sell a home now with cash, you save a fortune. If you sell the traditional way, you must hire a real estate agent and figure out how to make the property presentable. This can be expensive especially if there is structural damage or the kitchen needs remodeling.
Plus, real estate agents require commission and closing costs so choose a cash buyer instead.
3. Faster Process
If you want to sell a house quickly, choose a cash buyer. This is because the buyer already has the funds so they needn't ask the bank for a loan which can delay the process. Many cash buyers even work within an escrow period so you could receive the money in less than a week.
4. More Security
When you sell a home to a cash buyer, you're assured that they won't struggle to pay their mortgage or run into financial trouble. During the screening process, ask the cash buyer for proof of funds before accepting an offer. If they can't, then find a new prospect because you don't want to be a victim of fraud.
5. Stay in Your House for Longer
Selling your home for cash is fantastic if you want to streamline the buying process but also if you need longer.
Perhaps you need to prepare for your big move or figure out your finances. So if this is the case, discuss this with the cash buyer and they'll likely be flexible with their desired moving date.
Plus, you don't need to quickly leave your home because there's a viewing. This also means you needn't deep-clean or invest in home staging the property so it looks more attractive to prospective buyers.
That's How to Sell a Home for Cash
Hopefully, after reading this article, you're now eager to sell a home for cash.
Cash buyers offer more security, streamline the buying process, and are a guaranteed sale. Working with cash buyers also gives you extra security and saves you money as you needn't invest in repairs, professional cleaning, or costly real estate agent fees. What's not to love?
Did you find this article helpful? Great! Then check out our posts on everything from Real Estate to Finance.