FSBOs—or homes that are “For Sale By Owner”—account for around 10% of all home sales.
Selling a house can be a difficult process however, and there are plenty of fees tied up in it too. Some sellers will understandably want to keep more money in their pockets, avoiding costly realtor fees and streamlining the process. They can do this by finding companies that offer a “we buy houses for cash” policy. They’re an absolutely fantastic scheme, as they can take much of the headache out of selling a property and allow you to put even more of the profit into your pocket! For these reasons, they have become an increasingly popular option in recent years.
If you haven’t thought about selling a house for cash, it’s well worth considering.
This simple process comes with a few unmistakable benefits, so keep them in mind as you make your decision about your property!
Table of Contents
A Simple, Straightforward Process
As you might imagine, the process of selling a house for cash is relatively straightforward.
Often, the first step is making contact with the cash home buyer. The buyer will ask you for basic information about your home and neighborhood.
After they hang up, they’ll do some research into property values in your area, and the value of your home specifically.
Next, the cash home buyer will do an in-person visit to check out your property for themselves.
Some buyers will make an offer on the spot, while others may take a few days to research further. Even if this is the case, you can feel free to ask for an estimate.
Fast Sales
If you’re happy with the offer from the cash buyer, you can close the sale in a week or two! Compared to the traditional home-buying process, this is a big shift.
Homes sit on the market for nearly two months on average, but the wait can be much longer depending on where you live.
Cash sales help avoid the hassle of dealing with a real estate agent to research and price your property.
You won’t need to worry about home inspectors or hosting open houses. You also get to avoid waiting for banks to approve the buyer’s loan.
No Last-Minute Changes
Through the traditional home-buying process, it’s not uncommon to have offers fall through at the last minute.
Buyers change their minds all the time, or they may be unable to get a loan from their bank.
One of the benefits of selling a house for cash, however, is that the deal is final once you’ve formally accepted the offer.
In other words, there are no more worries about buyers getting cold feet!
No Prep Work
Curb appeal is what sells houses, which means that many sellers who go through a real estate agent will invest a lot of time in preparing their home for the sale.
They’ll pay for landscaping, home repairs and renovations, deep cleaning, and decorations to stage the home.
When you’re selling a house by owner for cash, on the other hand, there’s no investment of time or money.
The house is sold on an “as-is” basis, with the price set by the property value alone.
More Money in Your Pocket
Real estate agents get a commission from every sale, meaning you’re essentially paying them for their work.
That’s in addition to extra closing fees that come with a traditional home sale.
When you sell for cash, you avoid those 5-6% real estate agent commissions, plus hundreds to thousands on closing costs.
All the money goes directly into your pocket—which is the key factor prompting many homeowners to wonder, “How do I go about selling my property quickly for cash?”
Get Started Selling a House for Cash
It’s clear that selling a house for cash can be easier, faster, and even more profitable than the traditional home sale route.
So what are you waiting for? Do your research to find cash home buyers in your area, and see whether this process is right for your property!
We’re here to bring you the helpful home and real estate tips you need, so check out our other posts for more insights.
