If you’ve made the decision to sell your home, you have options in which to do so. You can sell your home yourself, you can sell with a Realtor, or you can also choose to sell to a cash buyer. Selling the home by yourself isn’t a straightforward process. You are required to do all of the work, you may need to make repairs to the home, and the money you save may not be as much as you think after it’s all said and done.
The Real Estate Agent Route
Working with a Real Estate agent isn’t always better either. While a Real Estate agent will take most of the workload off of your hands, this does come at a cost. Real Estate agents charge a 6% commission off of the final sales price for their efforts. Real Estate agents want to sell your home for the highest price possible and will suggest that you make, occasionally expensive, repairs or updates to your home. This means that you are expected to make these repairs and pay for whatever updates they deem necessary. Inspectors may also require you to make repairs to your home conditional in order for the property to sell, in addition to any updates recommended by the realtor. Selling with a Real Estate agent doesn’t mean that your home will sell quickly either. Low demand for service in a market, or an oversaturation of similar houses for sale, could lengthen the time needed to sell your home which adds up over time.
Selling To A Cash Buyer
Another option you have is to enlist the assistance of a cash buyer. Selling your home to a cash house buyer is a smoother, and often quicker, process that doesn’t have as many hoops for you to jump through to complete a sale. A cash buyer is someone, or a group of people, that pay you cash for your home. Generally speaking, they’re interested in buying your home to keep the home as an investment property or renovating the home and reselling the property for profit. They buy homes that may potentially need repairs or updates with the intention of taking on those responsibilities themselves. It’s important to remember that when working with a cash buyer that you won’t get top dollar for your home. Cash buyers will be the ones who are putting in the money and effort required to fix or update a home. They have to take those expenses into account when making an offer on the property.
Cash buyers have a lot of incentives when it comes to selling your home. Since a cash buyer is going to give you cash for your home, they close on the property much faster than a traditional sale. Cash buyers don’t need to go through a loan approval process which means they’re not dependent on an appraisal process of the home. Many times a cash buyer will close a sale in as little as seven days. You don’t have to wait for financing which cuts out a lot of time in the process. They will work with your schedule and a reasonable timeframe to move out of the home after the sale as well. Using a traditional sale method you can wait much longer to receive an offer and go through the approval process. Cash buyers also buy your home from you as-is. This means you do not need to worry about costly repairs or extensive remodeling. Traditional buyers are looking for a turnkey home that’s ready to move into and not necessarily a fixer upper.
As with anything, we recommend that you do your research. Google and Social media reviews can lead you to some great information on who you’re choosing to work with to sell your home. You want to view their website and verify if they’re an accredited business with the Better Business Bureau. You also want to be sure that they’re using a licensed title company to close the sale as well. You want to make sure that you protect yourself and that your best interests are kept safe.