There are different life challenges that homeowners face and selling their house might be a life saver. Facing financial difficulties like foreclosure, bankruptcy, medical bills, or any of the mirad reasons, a homeowner must make sound and smarter decisions.
Selling your house fast for cash might be the solution. The convenience of getting the cash in a matter of days not months once you close could save you a lot of worries and stress.
Here are some the facts about selling your house fast for cash that any homeowner should know:
Cash homebuyers are direct buyers. Cash homebuyers are interested in distressed properties, and houses that require little repair. It may be a small, one-person operation or a large, nationwide company. They don’t have middleman and no multi-listing. They would give you a no-obligation offer and you decide to accept it or not. If you decide to sell to an all-cash buyer, you will choose your closing date and cash will be given in a matter of days.
No cost, fees or commissions. Using a realtor to sell your house would cost you and average of 10% of the sale price. The real estate agent gets 5%-6% commission, Seller Concessions is 1.5% – 2% and Closing Costs is 1% – 3%. If you sell your house for cash, there is no out of pocket commission or closing cost.
No repairs necessary, No staging, As is condition. Cash homebuyers want a fast sale. They are not bothered how the house looks like, if it is clean, pretty or unkept and ugly. When you sell to a cash homebuyer, you don’t have to do any prep work.
You’ve probably heard about prepping and staging your house before selling it. This involves deep cleaning, decluttering, and presenting your home similar to photos you see in a magazine. Maybe you know for a fact that getting it ready to sell is a lot of work. In fact, your kids can leave their dirty socks on the floor. Cash homebuyers are not concerned in how old your cabinets are, the bright wall colors, the worn-out and dirty carpeting, or if you have strange floor layout. Whatever your house has odd additions or another structures that might turn off average buyers, cash buyers will still give you an offer.
No Open-house for strangers to walk through. If you list your house with a realtor, the agent will hold open house days. During the open house, home owners are discouraged to be present in the property.
The average number of potential buyers who would walk through is three. Just imagine how long before you get an offer. Selling your house to a cash buyer will definitely protect you from allowing groups of strangers to tour your house and in the process saving you time in getting your house sold.
No waiting for a buyer to get approved for mortgage loans. A cash buyer sale also eliminates anxiety of accepting an offer from an average buyer only to fall through at the last minute when the bank notifies that they don’t qualify for a mortgage loan. A traditional house sale typically takes 4 to 7 weeks to close compared to a cash buyer who gives an offer within a week and the seller decides when to close- the whole process takes an average of 1 to 3 weeks.
In a cash house sale, less paperwork means convenience and speed. If this is sounds all good to you, a word of caution-avoiding the complications of traditional sale might cost you, so expect a little bit less money out of the value of the house. I wish you luck in selling your house in Baltimore County.