Real EstateDecember 14, 2022by shelby0Why Should I Sell My Home for Cash?

You have a lot of options when it comes to selling your home. However, with so many options, it can be easy to get overwhelmed. One option that is worth looking into is a cash sale. Selling to a cash buyer can offer you a faster option with fewer steps involved. 

A Less Stressful Sale 

In a cash sale, the buyer has all the money for the sale upfront and doesn’t need to be backed by a mortgage loan. Since no mortgage is involved, some of the required steps of a traditional sale are no longer needed. You aren’t required to have an appraisal or a home inspection done. A cash sale only requires you to transfer the title of your home and fill out all the necessary documents. You also won’t need to work with a real estate agent, host home showings/open houses, or extensively market your home. In many cases, you also don’t need to renovate your home because most cash buyers will purchase homes in their current condition. 

Save Money on Closing Costs 

At the end of any home sale, both the buyer and seller will pay closing costs. These costs consist of taxes and fees related to the sale. In a traditional home sale, the seller also needs to pay the commissions of both real estate agents which can be as large as 6% of the sale price. Cash sales don’t typically involve real estate agents, so you don’t need to worry about factoring in this cost. It’s also possible to save money if you don’t have to make repairs to your home. Renovations are notoriously expensive and it’s beneficial if you can avoid them. 

Lower Risk of Sale Falling Through 

With a traditional sale, the buyer is required to apply for a mortgage and wait for approval. A part of this approval depends on their credit history as well as whether or not your home is a good investment. Even after your buyer has made an offer on your home, it’s possible that they won’t get approved or they may drop out of the sale for other reasons. A cash buyer is unlikely to drop out of a sale. Once they make an offer, you can nearly guarantee that they will go through with the sale. 

A cash sale is faster, easier, and cheaper. There are fewer steps to complete and you can sell your home in 30 days or less. For further convenience, you can sell your house to a home buying company. 

Living Way Properties can help out in a variety of situations. Click here to get a fast cash offer on your home.