If you are looking for an option such as “selling house near me” and you are probably in a desperate situation that led you to determine to sell your home fast, you can go for the quickest option that sells your home for cash. And know the pros and cons of your potential home selling experience for cash:
The pros and cons of selling your house in cash:
If you want to avoid the typical home selling not getting involved in the lengthy and huge processing if you want a quicker option instead. Selling your home in cash would be your better solution. Selling your home in cash will save your time and you would get out of your situation easily. Before stepping further you should know the pros and cons of selling your home in cash to determine at the process consciously.
The quick house offers:
This is the way you can get the quickest offers from a buyer instead of going for a traditional lengthy sale. You can get to know immediately how much is your home worth selling for cash. Some cash buyers may provide rapid offers; others would want to speak on the phone and come out to inspect your property before making a potential offer.
Selling your house fast:
Another lure of this option is a fast sale. It’s pretty nice to know that your closing is coming up and you are preparing to plan for your new life. A real cash buyer can truly close your home selling process within a very short period providing any title work, insurance, appraisals, inspections, and the closing agent can accommodate the closing.
No house staging, repairs or curb appeal:
You tend to sell your home as-is’ in your home selling for cash. The nice thing in this model is you don’t need to worry about your home appearance; neither needs you to fix things. You don’t need to mow your lawn; neither need you to paint your wall to present in front of the potential buyer.
Cash home buyers will not look at your curb appeal. They will not smell your carpet, so you are stress-free and can go for your selling process. Remember your cash home buyers will not give you extra credit for your good preparation and staging. So, keep cool and let your home go as it is.
Your difficult situation doesn’t bother your selling:
You don’t need to worry about your difficult situation. There are many cash buyers out there who are ready to buy your home in your worse situation like:
· If your house is with a serious flaw.
· If you have a large amount of past due.
· If your house is burned out or storm damaged.
· Or your property has illegal conversions or code violations.
· If your home requires major repairs, etc.
Some of the specialized cash buyers will end up making a potential offer at your property with vital issues.
You don’t need to pay any commissions:
In the traditional home selling process, you have to pay many participants in your selling process, the real estate agent that you hire, the broker, the attorney, the stager, the handyman, the home inspector and many. Either you pay a flat fee or a typical commission of around 6% of your sale.
On the other hand, selling to a wholesaler you don’t need to pay any commission to anyone. As long you sell your property you get your money on hand. Maybe you have to price your home at a lower rate than a traditional selling option but you have no excess paying source where you would need to end up paying a lot of money. And after all, you will get out of your situation.
No home inspection & no appraisals:
Your cash home selling process is hassle-free and doesn’t need to go through a home inspection and wait for a home appraisal. Since the bank is not involved in your cash selling, so there are no appraisals and no appraisal contingencies. As a cash buyer, we tend to play the role of the bank and do the necessary things.
There are a few cons you have to face in your cash home selling model as well.
Low Purchase offer:
Since you expect the quickest sale, you have to be satisfied with less money than the traditional one which deserves going through a lot of “to-do” lists. And the buyers are willing to purchase quickly with cash expecting to mend, if needed, to flip the property with a potential profit. They tend to buy undervalued properties for their next profit. Whatever they offer they will tend to find something at the least price possible.
The sale is not always guaranteed:
Even with the promise with the quick sale, the closing is not guaranteed unless you get the deal signed and find the cash in hand. So you need to be clear how a potential buyer will delay the closing. Would they pay you the cash immediately and close the sale or they would tend to find a better offer to flip the property as long as they contract.
Cash buyers tend to deduct potentials repairs and improvements from your asking price: Since these types of buyers don’t expect any repairs or improvements from you, they will surely deduct the potential home improvement cost from your asking price and make an offer.
You wouldn’t get competitive bidders:
You will not find millions of bidders like a traditional home selling option as you are in a hurry and didn’t list your property in the biggest home selling market through MLS. End of the day, if you are in a desperate situation you have no other option out there to help you out except a quick cash sale. So, don’t hesitate too much, just go for it.