Ready to pick up and move to someplace new, huh? Whatever your reason to find a new homestead, you need to make sure you sell the old home before you find yourself paying for two house bills.
Going the usual route for selling your home takes a lot of time – time that you don’t want to spend. Why not sell the house for cash?
Selling houses for cash is becoming a growing trend for many reasons, some of which may be beneficial to you. But like all good things, there are a couple downsides that may be a little offputting.
Read on to find out if selling for cash is the right thing for you.
The Pros
It’s always nice to start with the good stuff first, right? Here are some reasons to go for the sell.
Speed
If speed is what you need, then this is the only way to go.
By selling for cash, you will get a buyer fast. There’s no need for you to have to wait for weeks or even months for a realtor to take it off your hands or for someone from the open market to pick it up.
In fact, most offers are made within a few days, so there’s very little time needed to make a deal.
No Need for Financing
Financing and loans can be a hassle for any seller. If you’re selling for cash, you don’t have to worry about that.
The buyer will come to you and give you a lump sum of cash, and that’s it. No financing. No loans. Just cash.
Selling Houses for Cash Gives you Peace of Mind
When you sell your home for cash, everything will be managed by the buyers.
They have to make the arrangements, they have to handle the paperwork, and they have to pay you all of the cash money up front.
The only thing you have to do is move out when the deal is sealed.
You Can Sell it Without Repairing it
There are a number of reasons why you wouldn’t want to fix the home up before heading out.
Maybe you’re going through a divorce and you aren’t up to it. Maybe it’s just way too expensive for you to deal with.
Or maybe you just aren’t much of a fixer-upper.
No matter what the case, this won’t affect buyers. Cash buyers automatically assume that the house they’re interested in is in need of repairs, so they’ll still be willing to buy what you’ve got.
The Cons
Well, you didn’t think it was all good, did you? Here are some reasons why you may hesitate to sell your home for cash.
Lowest Price, Guaranteed
When you’re selling your property as is, there is a very good chance that you are selling to a realtor or a real estate investor.
These guys are going to want to buy your house for the lowest price they can possibly get. You need to be prepared for offers below market value.
You May be Forced into a Binding Contract
Contracts are evident in every deal (or at least, they should be). The buyer is going to want to make sure that there is a contract and that you will both see it through.
That sounds great…until you happen to find someone who’s willing to pay more for your place.
Now you’re stuck in a contract with someone who’s paying you less than the other guy.
Seems that maybe trying to move fast could get you caught in a bind.
The Buyer Could Sue for Damages
Just because you’ve sold the property doesn’t mean that you’re free of all responsibilities just yet.
If the buyer finds something wrong with the house that you didn’t tell them about earlier, they have the right to sue.
In the past, some earnest buyers got swindled by some pretty rude sellers and were left with a lot more baggage than what they bargained for. With the right to sue, they now have the power to fight back.
Make sure you let the buyer know everything possible about the house, or else you may find yourself on the wrong side of the law.
Home Buyers You Can Trust
Now that you know the pros and cons of selling houses for cash, you need people you can trust to get you through the next stages of selling your own home.
We are the best in Florida at what we do – but don’t take our word for it.
We’ve been able to get our clients up to a $50,000 cash advance before closing, as well as a donation of up to $1,000 to the church or charity of their choice. We also let you pick your move-out date and work with your situation.
Give us a call to see how we can help. We look forward to serving you.
