Should I Sell My Home for Cash? Here Are 5 Key Advantages
Selling your home is considered a major life change, and for good reason. Selling a home can be a very stressful event, and it often stretches out over months. Not only do homeowners have to worry about listing their home — they have to worry about staging, unexpected showings, constant cleaning, and then negotiating with agents who have ulterior motives to make a final sale.
Even if your sale progresses without too many bumps, it is likely to induce a few headaches along the way. That is why many people are enticed by the idea of selling their home for cash. Frankly, it would be most homeowners’ dream to receive straight cash for their home, but now thanks to an influx of investors it may be possible.
If you are on the fence about selling your home because of the immense amount of work the entire process takes, you may want to consider some of the perks of selling your home for cash. There are actually quite a few advantages that help balance out the minimal amounts of cons. Like every financial decision, you should always approach selling your home carefully and do your research first before making a decision. However, don’t turn away from the option to sell your home for cash until you have fully explored it and contemplated how it could benefit you.
1. Sell Your Home Quickly
The number one reason that people like to sell their homes for cash is because it means they can sell quickly. Depending on the condition of your house, the demand for homes in your neighborhood, and current market conditions you may have to wait for an extended amount of time after listing your home.
If you are lucky you may be able to sell your home in a few months, but some people wait over a year to get their home to sell. This is even more likely if you are attempting to sell your home on your own without the use of a real estate agent. When you sell your home for cash however, you get paid right away. Within a week of contacting an investor offering to buy your home for cash you could complete the sale.
2. Avoid Paying Two Mortgages
Selling a home quickly is even more attractive to someone that us upgrading or downsizing. No one regardless of their income level relishes the idea of paying for two mortgages. Paying a mortgage on an empty house will quickly eat into any of the proceeds you would make while waiting for your home to sell. While it is true that you get paid less when you sell your home for cash, if you pay two mortgages for an extended period of time you may not have any profit to show by taking the traditional route.
3. Avoid the Hassle of Home Staging
One of the most aggravating parts of selling your home is staging it. Finding a place to store ¾ of your worldly possessions and paying for items that make your home look ‘inviting’ is an annoying prospect. It is even more annoying if you have small children in your home and have to remove most of their toys in order to make your home attractive and less cluttered. Along with staging, you have to keep your home in impeccable order since you never know when a showing will occur. When you sell your home for cash, you don’t have to worry about one showing and hence can skip staging altogether.
4. Skip Over Costly Repairs
Staging is not the only step you will skip if you choose to sell your home for cash. You also will get to skip making any home repairs. While most buyers will request you make a series of repairs during escrow and your agent will request you make repairs to make your home ‘more marketable,’ you don’t have to do either when you sell to company that buys houses for cash.
Upgrading your home to look attractive and repairs can get costly quickly and are just one of the many things that cut into your overall profits. When you sell your home for cash you get all of the profit upfront, without any requirements in exchange during the escrow process.
5. Forget Paying Commissions to Anyone
If you like the savings that are adding up, remember that when you sell your home for cash you don’t have to pay anyone a commission. You do not need a listing agent, a home agent, a broker, a bank, a title agency, or any other traditional real estate component to sell your home for cash. The total that is handed to you in cash is free of any commissions.
Curious about how much you could get for your house? If you like the idea of selling your home without any of the hassle request a cash offer from WeBuyHouse today. We take the stress out of selling your home so you can focus on the future.