Practical and Helpful Tips: Properties

Selling Your Home for Cash

There are several upsides and very few downsides to selling your house for cash. Topping the pros are speed of transaction and convenience. As soon as you accept a cash offer, you will often be able to get your money in days. For individuals dealing with foreclosure, relocation or bankruptcy, this can be a quick lifesaver.

Less Sales Fall Through

As well, a cash sale eliminates the all-too-familiar circus of taking an offer, only to lose the buyers in the end because they aren’t qualified for any loan. The moment the cash is passed along, there’s no such thing as backing out or cold feet. Cash sales normally close in under three weeks, while conventional sales can drag on for up to seven weeks or even longer. Cash sales are mostly “as is” as well, so there’s probably no key repainting and repairs needed.
3 Sales Tips from Someone With Experience

Seeking Professional Help
Why Homes Aren’t As Bad As You Think

Though you shouldn’t forgo professional representation when you’re selling a home, sale unless you are completely sure of what you’re doing, there are undoubtedly less potential complications in a cash, sell-by-owner scenario. However, if you don’t work with an agent, it will be up to you to price your home correctly to prevent bottom-feeding cash investors or buyers from jumping in for substantially less.

Thus, you have to get an appraisal and do just a little bit of extra research of your own. Use various listing services to compare prices and view price adjustment records on houses within the same area, as well as time-on-the-market statistics. The appraiser will typically do at least three such computations based on fresh sales, but try expanding your data search for a deeper understanding.

There are instant-sale real estate agents who will be able to help with paperwork and do their job mostly through email or phone to expedite transactions. They will charge either a fixed rate or a smaller-than-usual percentage commission. But because their job is to sell quickly, they can propose a listing price that is way lower than what is offered in the conventional loan market.

Protecting Yourself

Although that cash buyer is a good prospect, you need to ensure they actually have funds – request for proof. Because several of cash buyers will want to repair and resell such properties, you might be able to set a short-term lease-back deal that lets you remain in the home if suitable for you, and give the new owner an income stream while doing repairs or other projects.

Indeed, in the world of real estate, cash is king for the seller. You may get a little less money out of the house like this, but you can reduce repair costs and other problems while enjoying convenience, speed, less documentation and less stress along the way.