In 2020, 5.64 million homes were sold in the United States.
Usually, those who purchase homes need some financing. However, many of these sold homes are also purchased with cash. Cash offers can take the stress out of selling a house for a variety of reasons.
Keep reading to learn about five benefits of accepting a cash offer on houses today!
1. Sell As-Is
Selling houses for cash comes with the considerable benefit of selling them as-is. This eliminates the need for an inspection that will point out every detail that needs repairs. Cash buyers will know that your home is not perfect and understand that some repairs may be needed.
Selling houses as-is gives the repair cost responsibility to the buyer, meaning you’ll save time and money. Additionally, you won’t have to clean every inch of your home to make it look presentable. For more information on the selling process, visit https://housebuyerstexas.com/.
2. No Realtor Fees
Realtor fees can be expensive, especially when they take a hefty commission of the sale. Realtors usually take around a 6% commission on your entire home’s purchase. This commission can be avoided when selling houses for cash.
In addition to the commission they will charge, there are other fees associated when hiring a realtor. You may also be responsible for paying the broker on the buyer’s end. All of these fees will be irrelevant with a cash purchase.
3. Close Faster
If you’re interested in selling houses quickly, finding a cash buyer may be the best choice for you. The overall buying process is much quicker and efficient, meaning the closing should happen in no time.
Cash purchases close so much more quickly because there’s no need to wait for mortgage companies to complete the lending process. This process can involve underwriting that can take up to 60 days.
4. No Financing
Since no financing will be involved with cash buyers, the process is straightforward. Often, many buyers run into issues when applying for financing. This can delay the process or even make the deal fall through.
Additionally, contingent offers and appraisals usually go hand in hand with financing. These two will further delay the process and add unnecessary stress to the purchase.
5. Less Work Overall
Having a cash buyer interested in your home will reduce the workload overall. One of the most significant aspects of selling a home is marketing and showing your property. These can take time and money but are eliminated when selling for cash.
You’ll also cut down on the overload of paperwork that comes with a traditional house purchase. You won’t need to agree to realtor contracts or finance contracts from the buyer.
Accept a Cash Offer on Houses
These benefits of accepting a cash offer on houses will make the entire process easier and quicker. To ensure this is the right choice for your family, always consult your financial advisor for more information.
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