Selling a house can be a hassle, especially if it isn’t in perfect condition or homeowners have reason to need the transaction to go through fast. Today, though, home sellers have more options than ever when it comes to finding buyers. Arguably the best of these options is to sell the home for cash to a company like EveryHomeBuyer.com.
Making the decision to avoid realtors and sell directly to a home buying company comes with a wide variety of benefits. Homeowners can read on to find out about a few of the advantages of home cash sales to find out whether this solution might be right for them.
Keep All the Money
Working with a realtor to sell a home via traditional venues can wind up costing homeowners money. They have to pay closing costs and realtor fees, on top of which they often wind up being conned into putting money they don’t have into renovations in attempts to make their properties look more appealing to potential buyers. When homeowners opt for home cash sales, they get to keep all of the money that the buyer offers and there’s no need for investing a small fortune into repainting, replacing aging fixtures, or upgrading old doors and windows.
Moving to a new house is already stressful enough without having to wait for months or longer for a qualified buyer to express interest in the old one, get approved for a loan, and make appointments to close the deal. Homeowners who sell directly to home buying companies often receive their payments within days of reaching out to a buyer. Having that money available sooner can take a lot of stress out of the moving process, giving homeowners and their families the cash they need to take care of other moving costs.
No Need for Repairs
It can cost a small fortune to renovate an aging home in order to attract buyers through realty offices, but there is no need to worry about making repairs when selling a home for cash. Buyers like EveryHomeBuyer.com make “as-is” offers on houses, making a cash sale a much easier and often much less expensive option than going through a realtor when the home is not in picture-perfect shape. Those who don’t have the time or money to undertake repairs prior to putting their homes up for sale often find that cash sales are the way to go.
Lower Chance of the Sale Falling Through
It isn’t uncommon for homeowners to think they have everything lined up with a potential buyer only to find that said buyer is unable to qualify for a home loan. This can be incredibly frustrating when offer after offer seems to dissolve in front of sellers’ eyes. With cash sales, there’s no chance of potential buyers backing out at the last minute due to an inability to get a loan or just generally cold feet.
No Endless Procession of Strangers Through the House
When selling through a real estate agent, homeowners and their families can expect to put up with open houses and private viewings, which can be a huge hassle when they won’t have the money to pay rent or mortgage on a new house until they’ve sold the old one. When working with a cash home buying company, sellers can simply schedule a date for a property viewing with a representative. This representative will evaluate the current condition of the house so that the company can make an appropriate offer, and that will be all she wrote.
Homeowners who opt to sell to a cash home buying company rather than placing their properties up on the market can expect their buyers to do the vast majority of the work for them. Not only will they not have to worry about a seemingly never-ending procession of buyers interrupting their home lives and buyers backing out at the last minute, but they’ll also avoid lengthy meetings with realtors, giant piles of paperwork, and interminable waits. This gives motivated sellers more time to focus on other important aspects of their moves and prevents headaches for everyone in the family.
What are the Down Sides?
At this point, some readers may be thinking that cash sales are too good to be true. The reality is that while they are more convenient, faster, and generally less prone to complications than sales made through traditional realtors, there are still a few potential disadvantages. Most of these disadvantages can be avoided by choosing the right buyer, though.
Some individual buyers make cash offers that they are not fully prepared to back up, which can leave homeowners who haven’t done their homework in a bad situation. When selling to an individual buyer, make sure to ask for proof of funds prior to agreeing to anything. This isn’t generally an issue with companies that specialize in cash sales, though, provided sellers do their homework in advance and make sure that they are working with trustworthy buyers.
Another potential disadvantage is that homeowners sometimes feel pressured to accept lower offers when buyers are willing to pay cash. If an individual buyer is insisting on adding contingencies for appraisal, inspections, and other actions generally associated with traditional sales, it may not be worth offering him or her a substantial discount. Sellers who have found a buyer that is willing to pay cash for the house as-is typically find that the money they lose by accepting a lower offer is more than compensated by what they save in not fixing up the home before the sale, though.
It’s not uncommon for sellers to encounter a lot of propaganda from real estate agencies regarding all the money they’ll supposedly save in the long run by hiring a realtor. While it’s true that the average price that sellers get for selling their homes themselves, whether to cash buyers or potential buyers who are just looking for a good deal, is lower than that of homes that are sold through real estate agencies, this statistic is misleading. It does not take into account the fact that most sellers who opt for avoiding often hefty real estate fees are selling homes that are located in less desirable areas or will need a lot of work to be fixed up properly.
The bottom line is that a home that’s in poor condition will fetch a lower price, regardless of how sellers decide to go about finding prospective buyers. The opposite is also true, though. A higher-quality home that is located in a better neighborhood with higher market values will still be worth more than a lower-quality home if sellers choose cash sales. Don’t be fooled by misleading statistics and propaganda.
What to Look Out For
Not every cash buyer will be trustworthy and there are plenty of scammers online, so it’s a good idea for sellers to do their homework before accepting an offer. The first thing to look out for is application fees and upfront payments. Legitimate cash home buyers will not charge unnecessary fees for their services; they’ll simply schedule a consultation, evaluate the property, make an offer, and close the deal.
If the buyer works for a company, it’s worth checking out a few reviews. Chances are not every seller will wind up being happy with his or her decision so it’s often impossible to find a buyer that doesn’t have a single negative review, but seeing what other sellers have to say at least gives homeowners the chance to look out for any red flags.
It’s never a good idea to sell to a buyer who doesn’t want to see the property first. Plenty of individual buyers and companies are willing to make “as-is” offers, but no reputable buyer will completely forgo a property inspection. Chances are, those that do are actually trying to scam sellers out of money, not give them cash payments for their homes.
One final red-flag to look out for is potential buyers who refuse to communicate in person or over the phone and relies exclusively on email. Like “buyers” who don’t want to even see the property before making an offer, those who use exclusively online communications are much more likely to be scammers in disguise.
Where to Turn for Professional, Reliable Sales
Want to get a cash offer on an old house, but don’t want to get scammed? Check out EveryHomeBuyer.com to get started learning about one reputable and well-respected company that can help.
EveryHomeBuyer makes the entire process easy on sellers. All readers have to do is fill out an online form or call to speak with a representative to schedule a consultation and a home viewing. The buyers will take things like the home’s current state, the seller’s asking price, and the market value of the property into account then they’ll make an offer.
Homeowners who are serious about making a quick sale can do no better than to find a reliable cash home buyer. When they choose EveryHomeBuyer.com, they’ll know that they’re getting a great deal with no hassle and no wait.