Getting an all Cash Offer for Your Home is a great option when selling. Find our more at https://realestate.st/cash-offer/.
If you’re like most home sellers, you probably worry about the time and effort required to prepare for a sale, from staging and cleaning to completing repairs and upgrades.
One of the most challenging decisions a homeowner has to make is selling her house. This is because of obvious reasons i.e. emotional attachment, financial realities, etc. You may have spent a better part of your life living in a home you can no longer keep. You may be forced to sell your house because of life’s twists and turns and as unthinkable as it may seem, it is better to face reality and do what you need to do to move forward. That is however easier said than done. It is not easy to sell your house when you are out of time and/or money, but we are here to help! Our goal is to find a win-win solution to your property problems, save your credit, and get the money you need to get back on your feet.
A cash offer is an all-cash bid, meaning a homebuyer wants to purchase the property without a mortgage loan or other financing. These offers are often more attractive to sellers, as they mean no buyer financing fall-through risk and, usually, a faster closing time.
Some sellers choose all-cash purchase offers over higher-priced offers with conventional or FHA loan financing because they know a cash offer with proof of funds faces fewer stumbling blocks and is more likely to close. If buyers have cash, no such potential problems can derail a sale.
Benefits of Accepting a Cash Offer
1. No Appraisal -With a cash sale, no appraisal is necessary. In most traditional sales, the buyer works with a mortgage lender. In order to reduce their financial risk (in case the home buyer forecloses in the future) the lender needs to determine that the house they’re being asked to finance is worth at least the amount of the loan. A cash sale takes the appraisal out of the process.
2. Fast Closing - Another difference between cash and traditional sales? Cash sales take less time to close, from start to finish. Again, the mortgage lending process is usually to blame. Most sales require a mortgage to be underwritten. This lengthy process takes from 30 to 60 days, and a lot can happen during that time. If the buyer’s financial situation changes between pre-approval and loan finalization, the mortgage lender may refuse to offer a loan and the deal may crash and burn. In fact, financial difficulties are the major culprit when it comes to contingent offers falling through. Cash offers can close in as little as 10 days.
3. Less Risky - Cash offers tend to be stronger than offers using traditional financing. When presented with multiple options, it just makes sense for sellers to pick the buyer that presents the least risk. Usually, that’s the cash buyer. Often, home sellers choose a cash offer over an offer that will be financed with a mortgage, even if the cash offer is lower.
4. Reduce Stress - Selling a house the traditional way is stressful. You have to clean, stage, repair, and upgrade. You must find an effective agent, deal with the appraisal and inspection, and keep your home spotless through showings and open houses. And let’s not forget the million and one other things to worry about; will the buyer back out or lose financing? How long will it take to sell? While there are many reasons you may want (or need) to sell quickly, maybe you simply don’t want to draw out the process. Either way, a quick home sale reduces some of the stress typically associated with selling a home.
5. Solve a Difficult Problem
Do you need to split the equity in your home in a divorce? Do you have to relocate for work sooner than expected? Maybe a fast home sale would avert foreclosure, or allow you to liquidate cash to pay down debt. Whatever the reason, accepting a cash offer on your house can help you out of a sticky situation.
6. Save on Repairs - In a traditional home sale, the inspection brings attention to necessary repairs. In most cases, the home seller must either pay to fix problems or lower the home’s asking price accordingly. In a cash sale, you simply sell as-is. You’ll save money on repairs and upgrades… especially given that most don’t even result in a full return on investment. Best of all, you don’t even need to clean or stage.
7. Skip the Marketing and Showings - Finding potential buyers is a lot of work, and showing your home in the best light is both time-consuming and expensive. Consider open houses and (especially) showings; keeping your home in walk-through-ready condition at all times is difficult. Got a full-time job, kids, or pets? Maintaining a spotless state may feel next to impossible!
10. Pass on the Inspection - Let’s face it: The inspection and appraisal process is no fun. Discovering all the things “wrong” with your home can be incredibly stressful. A cash sale lets you avoid this hassle. Cash buyers expect your home to have flaws, allowing you to skip expensive repairs that can slow — or derail — a traditional sale.
There are many reason why home sellers choose to obtain an all cash offer on their and there are many more reasons why they decide to accept them. There is no obligation to take a cash offer once you receive one so there is nothing to lose as keeping it as an option when selling your home.
Those interested in learning more about Real Estate Street and their Cash Offer for Your Home Service scan do so on the website at https://realestate.st/cash-offer/
