You’re presented with a lot of options when it comes to choosing a buyer for your home. A cash buyer can make the process much more convenient for you. Learning more about the process and why it would benefit you is worth it.
A traditional home sale can take weeks to months to complete. This is mainly because the buyer must apply for a mortgage loan and then get approved. Meanwhile, you have to sit and wait for this process to be completed. In a cash sale, you can have your home sold in less than 30 days. For many cash sales, it can even take as little as a week to go from settling on a price to closing on the sale.
When your buyer doesn’t need a mortgage loan, several steps are removed. First of all, you aren’t required to have an appraisal or inspection done on your property. These each take about a week to schedule and complete and they can even bring up more complications. It’s easier when you don’t have to worry about them. Most cash buyers will also buy homes that are in any condition. This means you don’t need to worry about fixing up your home or making renovations before selling. You can sell your home as is and avoid all the time and money put into doing repairs.
Many people don’t realize that the seller has several costs they are responsible for during a home sale. Many of these costs, such as taxes and fees, are unavoidable. However, there is one very large expense you don’t need to pay in a cash sale and this is the real estate agent commissions. In a traditional sale, the seller will pay the commissions for both real estate agents. Usually, a commission is about 6% of the sale price and this is quite a large sum of money. In a cash sale, there typically are no realtors and you don’t need to factor this expense into the closing costs.
Not everyone is familiar with cash sales and so they tend to go with a traditional home sale. However, a cash sale is more streamlined and can remove a lot of the stress that comes with selling. Finding a home buying company to sell your home to can make things even easier.
Living Way Properties can make it easier to sell your home. Click here to get a no-obligation, cash offer.