TRADITIONAL HOME SALE VS CASH OFFER
Updated: Jun 28
In pre-covid times, as of 2019, 89% of homeowners chose to list their properties through an agent on the open market. This is the one favorite option for many sellers whose goal is to fetch the highest price point.
Agents surely do their best to make it happen by helping the seller get their home prepped, staged, and ready to hit the market. Dedicated agents guiding their clients through negotiations and closing.
If you are looking for a fast or certain sale, a cash buyer might be more valuable. Well, because it’s cash and closing as fast as 7 days.
Depending on the condition of your house, price point, location, liens/ mortgage situation, your home will be a more desirable purchase to certain cash buyers over others. Most real estate investors have the specific “buy box” (criteria set) they use with parameters as to which types of properties are most valuable to them. That means what your home is “worth” will vary, even among buyers who can pay instantly.
If your home is in need of some significant repairs before you can put it on the market, a cash offer might look pretty appealing because some investors prefer buying properties “as-is.”
Flippers specifically aim to purchase rundown properties at a discount that they hope to turn into a profit. What it means for you, that you do not need to make any repairs, you don’t need even to clean. It will save you lots of time and money, significantly reduce stress, and you can avoid contingency clauses.
Contingencies are “back out” clauses that do a lot to protect buyers but are burdensome for sellers. The fine print might say something like:
“Offer is only valid if the buyer’s current home sells within three months” Or:
“Offer is only good if the inspection doesn’t turn up a cracked foundation.”
Even if the bank has approved it, the offer is only valid if the mortgage lender comes through.
There is a high risk (almost 10%) that the contingent offer could fall through and jeopardize your sale.
If you’re selling your home for cash to an investor, this may be an extra obstacle you can avoid depending on the type of buyer you’re working with.
Selling a house for cash is quicker and less stressful!
Because you have someone interested from the beginning, you don’t have to go through all the primping that goes into listing your home for sale. No need to worry about staging or hiring a photographer or figuring out your marketing description.
Direct buyers take care of the inspection and repair responsibilities for you and you completely bypass the lending steps.
You call an investor (or contact one online), they ask you a few questions, run some numbers, and they make you a fair cash offer. You take it or don’t, it’s totally up to you since it’s a no-obligation offer. If you accept the offer, you can close within a week or 10 days!.
Call/ Text us at 919-444-8778, let's get your house to sell TODAY!