Did you know that more than 5.6 million homes got sold in the United States of America in the year 2020? Selling a home is a big deal and it is normal to hope for the biggest offer you can get during the selling process. Most people sell their homes to someone that uses financing to get the new home.
But what happens if you have a cash buyer that makes a cash offer for your home? This is a tricky situation that you’ve likely yet to encounter but it never hurts to be prepared. The good news is that you’ve come to the perfect place to learn more about the benefits of accepting a cash offer when you’re going through the selling process for your home.
Keep reading this article for seven incredible benefits.
- Cash Offers Close Quicker
One great reason that you should accept if you get a cash offer when selling a home is that cash offers take a much shorter period of time to close. There are no legal lenders to go through and work with when you get a cash offer during the selling process. When the buyer uses financing it can take up to a month for everything to get sorted and the sale to go through.
When you accept a cash offer for your home you should expect the closing process to take as little as two weeks. The reason it takes that long is due to filling out all of the required documents and getting those documents approved. They’ll then need to get filed away.
Closing faster means you’ll have the chance to move out faster and get moved into your new home when you buy a home to replace the old one. This is great because you’re not stuck paying two mortgages at the same time.
- Fewer Fees
Getting a cash offer also comes with the benefit of getting fewer fees. Buying and selling a home is chock full of fees so any fees that you can eliminate should get considered as a big win. You won’t escape all of the fees but you will find a way out of paying a nice chunk of them.
The big fees that you’ll get rid of are the lender fees as well as fees that pertain to the mortgage on the home. Since the buyer is paying for the home in full there are no fees from a lender. This saves you time as well as money since you don’t need to wait a month or longer for all of the paperwork to go through.
- Less Work for You
Another great reason to accept a cash offer when you sell your house is that it means a lot less work for you when compared to selling to a buyer that plans to use financing. Cash offers are great because it means that you have fewer parties to interact with when going through the selling process for your home.
It also means less confusing paperwork that you’ll need to fill out. Another area that might surprise you when it comes to a cash offer is that there isn’t an expectation from the buyer that you’ll need to fix up the home prior to the buyer moving in. Oftentimes, the cash buyer takes care of fixing anything on their own.
The reality is that most cash buyers are people that make their living in real estate and want to purchase your home with the intention of fixing it up and then renting it out. They might also have plans to flip it for more than what they paid in order to turn a profit.
- No Marketing Required With a Cash Offer
If you’re selling your home with the intention of marketing it to a buyer that will use financing then there is a good deal of marketing involved. Even if you hire a real estate agent to market your home to potential buyers, that is still money of yours going down the drain.
If you plan on selling your home for cash then the interested buyers will seek you out. It doesn’t hurt that it is a seller’s market. This means less work for you when it comes to finding different avenues of getting your home on the market and in front of interested buyers.
- No Showings Required
Another drawback of selling to a buyer that uses financing is the showings involved. There is no need to stage your home and make it look perfect for potential buyers. This means you won’t need to spend time and energy getting rid of any clutter and making the place look like no one lives there.
This is big because it is one of the biggest causes of stress when it comes to selling your home. If a cash buyer wants to see your home then they’ll come to see it at a time that isn’t a showing.
- No Negotiation Necessary
Some people don’t like haggling and that is okay. With a cash offer, there isn’t any negotiating required to move forward with the sale. Most cash offers will give you a solid amount of money that is close to your asking price. When you factor in the time, resources, and stress this saves you it ends up being more than worth it.
- Less Stress
As mentioned in the last part of this article, cash offers mean less stress for you. If you’ve ever sold a house then you know how much time and energy goes into it and how stressful it is. Accepting a cash offer gets rid of a lot of tedious paperwork and stress. You might even get to enjoy the process when you accept a cash offer.
Accept Your Home’s Cash Offer Today
If you weren’t sure about whether or not you should accept a cash offer when selling a home then you need to reconsider. There are many benefits to accepting a cash offer. It is a less stressful home selling experience and it saves you a ton of time and money. It also doesn’t require decluttering and tidying up your home for multiple showings.
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