The average house for sale sits on the market for 65 days. But, what if you could sell your home in a week or less?
Selling your house for cash can make this a reality!
Selling a home in a traditional fashion is a complicated affair. With numerous parties involved, there’s a ton of waiting, negotiating, and pressure to satisfy buyers. Dealing with real estate agents’ and multiple buyers’ schedules can also be a hassle.
The deal can quickly go sour fast as well if the buyers’ financing falls through. Wasting more precious time while you get stuck with the bill and the headache of finding yet another buyer to negotiate with.
Buyers coming to the table with cash, however, can provide a great deal of relief and ease in the sales transaction. Read on to discover the top five benefits of selling your house for cash.
1. Immediate Transaction
When you and a cash buyer decide on a selling price, all that’s left is sending the check and signing over the title. As soon as the cash buyer’s check is in your bank account, the transaction is complete. Cash buyers significantly decrease the sales process time simply by bypassing financing a loan.
2. Fewer People Involved
In a traditional sale, there are numerous parties involved. Mortgage lenders, real estate agents, and the buying and selling parties. Not to mention insurance agents, inspectors, and appraisers. More people means more opportunities for problems to arise.
With a cash buyer, there are only two parties involved: sellers and buyers. No lenders or no real estate agents, which significantly simplifies the sales process.
3. No Home Repairs
Home repairs can easily begin to add up during the negotiation process with a traditional buyer. Nothing is off limits for a traditional buyer to ask to be repaired, which can send you into more debt or lead to more waiting after the buyer backs out.
When someone purchases your home for cash, no home repairs are required. The buyer purchases the home “as is” knowing that the responsibility lies on them to complete all home repairs.
4. 100% Sale Price
When a cash buyer purchases your home, you’ll receive 100% of the profits. This is because no real estate agents will be involved.
When real estate agents are involved in the sale of a home, both split a commission totaling 5% to 6% of the sale price. If your home sells for $100k, for example, then you’d be out $5,000 to $6,000.
Finding a cash buyer, on the other hand, allows you to pocket all the money.
5. More Security
Cash buyers offer more security because the sale is less likely to fall through. All that’s needed is an agreed upon sales price, a plan of ownership transfer, and the check deposited into your bank account.
This makes selling to a cash buyer more appealing to sellers because every day the house is on the market, they’re losing money. Traditional buyers also have multiple opportunities to back out of the deal. So, the seller ends up taking a gamble every time they sign a purchase agreement with a traditional buyer.
Selling Your House for Cash
Selling your house for cash can easily be a financially sound and beneficial decision. When you sell your home for cash, you can get back to planning your future and moving on with ease.
Interested in selling your house for cash in New York? Contact us today and find out if your property in Queens, Manhattan, The Bronx, or Brooklyn qualifies for an all-cash offer.