When it comes to choosing a way to sell your house, you have a few options. The most common way to sell is to list it on the market and get the help of a real estate agent. Other people choose to sell their home themselves, which is why you’ll sometimes see a For Sale by Owner sign. Still other people choose to sell their home to cash home buying companies. That may seem like a strange concept, which prompts the question of why someone would make that choice.
Minimal Repairs Needed
It’s pretty common for homeowners to make repairs and renovations to their home before trying to sell it. This is often seen as the best way to increase the value of a home and help it sell quickly. Such things aren’t always feasible for everyone though. Repairs and renovations require time and money, something that too many people have too little of. Cash buyers don’t mind homes that need a little TLC though. In fact, sometimes that’s the preference. For homeowners who don’t want to deal with repairs, selling to a cash buyer can be an excellent option.
Save on Closing Costs
Closing costs can really cut into what you take away from the sale of your home. As the seller, you can expect to pay about 2% of the amount you sold your home for in closing costs (to say nothing of the 6% you pay for agent commissions). When you sell to a cash buyer, they’ll cover the closing costs and there aren’t any commissions to pay. That means that you could walk away with more money in your pocket overall when selling to a cash buyer than you would from traditional selling.
Speed above All Else
One of the biggest differences between selling your home traditionally and to a cash buyer is how long each method takes. When you go the traditional route, it’s not uncommon to spend months working to sell your home, and that’s not including any time you spend on repairs and renovations. By comparison, selling your home to a cash home buyer can be done in a single month, sometimes less, from start to finish. If speed is what you need, a cash buyer is the way to go.
There are some pretty compelling reasons to sell your home to a cash buyer. If you don’t want to deal with repairs and renovations for any reason, want to avoid dealing with closing costs, or just need to sell your home as fast as humanly possible, selling to a cash buyer is one of the best things you can do. As with any big decision, make sure you weigh the pros and cons of your options so you can make sure you can make the best choice for you.
Not sure if selling to a cash home buyer is the right choice for you? Click here to compare the traditional selling route with selling to a cash home buyer so you can get a better feel for both options.