The home selling process has changed a lot over the last several years.
Most homeowners still use the old-fashioned method, hiring a realtor and letting them handle everything, but there’s a growing trend of making cash sales as well. Considering a cash offer for a home takes a lot of the complexities and red tape out of the real estate transaction.
If you’re selling your home, you’d be remiss not to think about cash buyers. But, people fear what they don’t fully understand. That’s why, in today’s post, we’re going to give you a beginner’s guide to selling a home for cash.
There are countless reasons why you’d want to avoid the traditional real estate transaction, whether it’s because you need to move quickly or you’re going through probate. Keep reading and you’ll see that you can sell a home fast and for good money by approaching a cash buyer.
The Problem with Real Estate
There’s always been a set way to go about selling your home, which is driven in part by the real estate industry. It’s hard to deny that realtors make the process of buying and selling real estate easier, but they also take a significant payment to do it.
When you hire a realtor, you end up paying them a 5-6% commission on the sale of your home, which they split with the listing agent. It might not sound like a lot, but when you sell your home for $495,000 – the current average sale price in the US – you’re looking at nearly $25,000 in realtor fees.
That’s a lot to pay to have someone facilitate a transaction. That said, realtors have access to resources that regular civilians don’t, like the MLS marketing system and a network of other realtors. It can be daunting for someone to try and sell a house on their own.
The other big problem is that nothing’s guaranteed in real estate. Even with a high-powered realtor on your team, your house could sit on the market for months without garnering interest. The longer it’s on the market, the harder it is to sell – but your realtor still gets their commission at the end of the day.
If all of this sounds a bit backward to you, it might be time to consider cash sales instead. Let’s take a look at some of the reasons, outside of these real estate issues, that you’d choose a cash sale.
Why You’d Choose Cash Sales
For many homeowners, the traditional real estate route is still the best option to get the most out of a home sale. For others, this just isn’t the case.
There are a few common scenarios where expediting the home selling process and minimizing cost is absolutely essential. One of the biggest is when you’re dealing with debt and facing foreclosure. Acting fast and offloading your home is the best way to deal with this.
Another one is when you’re going through a divorce. By selling your home for cash, you can easily split your assets with your ex and move on with your respective lives.
Job loss or taking on a new job that requires you to move quickly makes it impossible to see the traditional real estate process through. Cash sellers can expedite the moving process so you don’t have a logistical nightmare on your hands.
Inheriting a home from a deceased loved one makes for a complex real estate situation. If the home is in poor condition, it’s even worse. Selling to a cash buyer who takes the house as-is prevents you from having to make any costly repairs to the home.
Finding the Right Cash Buyer
When you decide to sell your home for cash, it’s important to realize that there are risks as well as benefits. Unfortunately, the world of cash home buyers is rife with scammers and lowballers. It’s important that you do your research before accepting any cash offer.
Finding the right cash buyer comes down to looking at ratings and reviews from former customers. The best cash buyers are established companies that don’t need to cold call you to get business. If you’re fielding sketchy offers from buyers you’ve never heard of, stay away.
At First Choice Home Buyers, we’ve been featured in several national news publications. We also carry a 4.8-star rating on Google My Business, having helped dozens of homeowners in central Pennsylvania sell their homes quickly and for the right price.
How the Process Works
When you’ve never sold a home in this way before, the process might not come naturally to you. Fortunately, it couldn’t be easier.
The first thing to do is call us or fill out the form on our contact page. We’ll go over some of the important details about your home, and then send you a no-obligation cash offer.
Should you accept the offer, we can have the paperwork finished and the transaction completed at your earliest convenience. Even if you want to continue living in your home, we can work with your current lender to alter your mortgage and help you keep up with your payments.
That said, it doesn’t matter where your home is, what type of dwelling it is, how old it is, or what condition it’s in. If it has the potential for development of any kind, we can make a fair offer on it. Our aim is to settle on a win-win transaction for both parties.
Experience the Benefits of Cash Sales Today
Now that you know a bit more about the process of cash sales in real estate, it’s time to get the ball rolling. If you’re dealing with foreclosure or probate, or you’re just disillusioned with the world of real estate, we can help.
First Choice Home Buyers is one of the most reputable cash-buying companies in the country. You don’t have to sell your home with a realtor just because that’s what everyone else does. Request a cash offer with us today and you’ll see that there’s money to be made on your home, and fast.