Can I sell my house for cash? Indeed you can!
If you are looking to sell your home, one of the most important things you will need to think about is how to go about the sale.
The traditional ways include involving a realtor who handles most aspects of the sale. As convenient as this sounds, it comes at a cost. You can expect the realtor to take a 6% commission once the house is sold. Oftentimes, there are other charges and expenses associated with going at it this way.
Do I Have Other Options?
Luckily, this is not the only way to go about selling a property. Your second option is opting to find a cash buyer for your home.
A cash buyer invokes images of a bag of cash, as we see in the movies. This is not how it actually happens in life.
When talking about selling one’s house for cash, it essentially means that the buyer does not depend on third-party financing to purchase the home.
Instead, the buyer has accumulated enough savings to pay for it. These lump-sum amounts can be from retirement funds, sale of their current home, or for businesses, business capital.
Of these, selling to home buying properties is proffered as it allows home sellers to deal with credible companies instead of individuals. With these, the risk of dealing with unscrupulous individuals is significantly minimized.
If you opt to take this route, here are five things to keep in mind.
1. Keep Emotions in Check
This is often hard to do. When you live in a house for years, raise children, and decorate it to suit your style and personality, it’s hard not to attach sentimental value to it.
However, buyers are not looking to gain sentimental value-neither are they looking to spend on it. What they are going for is the structure of your home that they can sell for a profit. You need to think of your beloved property in this manner if you are looking to sell and sell fast.
Once you decide to sell your home, you need to approach the process with a business mind. Anything less than this and you risk delaying the entire process and putting off potential buyers.
2. Carry Out Thorough Research
As you approach this process like you would a business, research becomes all the more important.
Among the key things you need to figure out is pricing. You need to find an optimal price that will ensure you recoup your investment without being too high to discourage buyers.
There are online tools that can help you value your home, but this is not the only way to go.
Aside from these, do a comparative analysis of homes of a similar size and with similar amenities located within your neighborhood. This will give you a ballpark figure of the types of offers that will be worth considering.
Home buying companies will often give you an offer that’s lower than the market price. This is not only because they need to make a profit but also because they buy the home as-is.
This brings us to the next point.
3. As-Is Means As-Is
Houses go on the market for various reasons.
You might be selling your house to buy another one. You might be in foreclosure or wanting to get rid of a house worth extensive damage. At times, you inherit a home that is extremely old and not well taken care of.
A primary concern for sellers in these scenarios is fixing the house before sale. At times, a seller simply does not have the money to carry out any repairs, replacements, or upgrades to improve a house structurally or aesthetically.
Does this spell doom? Not really.
If you are selling a house to a buyer purchasing through a financier, you will definitely run into problems. The financier will require appraisals and house inspections, which will likely tank the purchase.
Not so with selling cash to a home buying company.
Home buying companies will buy dilapidated, damaged, or foreclosed homes as-is. You will probably get a lower price to cater for the upgrades, but for someone looking to make a quick sale, this is just a bit the best option you have.
4. Create a Proper Move-Out Plan
If the house you are selling is your primary residence, you will need to begin working on a move-out plan as soon as you decide to sell.
When going the traditional route with a financing contingency, you can expect the process to take a month or two to close, if at all.
Cash sales, on the other hand, are considered to happen much faster. You can expect to sell your house within days or weeks, depending on how quickly you can correspond and facilitate the sale.
Nonetheless, unlike traditional house selling processes, you have some flexibility when making a cash sale. Home buying companies are happy to work with you and accommodate your timelines when you want to move.
However, should you want this process over and done with as quickly as possible, identify suitable accommodations as early on as possible. This allows you to take the earliest offer possible.
5. Research the Company
You already know by now that all home buying companies are not created equal. Considering how huge the decision to sell your house is, it only makes sense that you align yourself with a legit, credible company.
You find these by doing some research. An online search is a great place to start. You want to look at their website, verify physical addresses. Look at certifications and reviews.
You also want to find articles regarding them online, more so those pointing to fraud, malpractice, and lawsuits. No matter how pressed you are for cash, take your time to find a reputable company.
Selling a Home?
If you are selling your house for whatever reason and need to close fast, a reputable home buying company like Cash Buyers Network LLC is indeed the way to go.
We close fast, buy your home as-is, and can even facilitate the moving process. Call us today on 15615236982 and let your experts get the best deal for you.