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How Do You Sell a House For Cash?

How Do You Sell a House For Cash by Del Aria Investments?

When you sell a house for cash, you are eliminating a lot of the hassles that typically accompany the home buying process. You are also saving thousands of dollars in closing costs. Selling a house for cash may not be for everyone, but for some people, it is a smart move. Before selling your house for cash, learn about the buyer's intentions and the home-buying process. Read on for some of the advantages of selling your home for cash.

Selling a house for cash simplifies the home buying process

Selling a house for cash is easier than selling a house traditionally. In a traditional home purchase, the buyer typically relies on a lending institution for financing. The bank provides the buyer with a mortgage, which is paid back monthly for a pre-determined period. If the buyer fails to obtain financing, it could result in negative consequences for the seller. Selling a house for cash removes any potential risk by removing financing and appraisal contingencies.

The process of selling a house for cash is easier than ever. A company like iBuyer makes the process quick and easy. You fill out a form on the website, telling the prospective iBuyer everything they need to know about your house. Once the company has received the information, they contact you via phone or email to make an offer. They will even schedule an inspection, which can either be a general or specialized inspection.

Saves thousands of dollars in closing costs

Closing costs can eat into your profits when selling a house. Fortunately, selling your home to a cash buyer can help you save money on closing costs. Depending on the situation, a cash buyer may even be able to shoulder some of these costs. To see if a cash buyer can help you, get a free home value estimate online or speak with a top real estate agent in your area.

When you sell a house for cash, you'll avoid mortgage-related fees, including mortgage recording tax. These fees can run upward of 3% of the purchase price. In addition, you'll also avoid the loan-appraisal fees and attorney's fees that banks charge. Other closing costs are the same. You'll still have to pay property taxes, which can be several thousand dollars.

Is it a good idea to sell a house for cash?

When you sell a home for cash, you avoid the hassles and costs involved with selling your property through a traditional real estate agent. The sale process is usually fast and easy – cash sales can be closed in one to three weeks, compared to the four to seven weeks it takes to sell a home through a conventional agent. However, cash sales come with a few drawbacks.

In some cases, you might need to sell your house quickly for a variety of reasons. Perhaps you need to move closer to a sick relative. Or maybe you've undergone a divorce. Or perhaps you've recently moved because you've been offered a job in a new city. Whatever the reason, you don't have the time or the patience to wait around for the traditional sale process. Selling your house for cash can help you meet your deadlines, and you won't have to spend time and energy marketing it to potential buyers.

Is it possible to find a cash buyer?

Selling your home for cash offers several advantages. Unlike traditional real estate transactions, cash buyers don't need to worry about inspections, cleaning, staging, or showings. Moreover, you can sell your home "as-is," skipping pre-listing projects. Most cash buyers have low expectations of the appearance of the home, and you don't need to worry about rearranging furniture, painting, or staging if the buyer doesn't want it.

There are a few disadvantages to selling your home for cash, though. You may need a few repairs before a cash buyer can make an offer. If your home is in poor condition, you might be better off looking for another buyer. Cash buyers are not likely to offer you the best price, and most lenders won't write a loan for a home with major flaws. In this case, iBuyers may be the best option. While these companies typically pay closer to market value than most cash buyers, iBuyers also allow you to sell your home almost immediately.