Some people, even many who have an urgent need to sell their home, think buying or selling a home without getting a personal real estate agent involved is a quick way to get taken advantage of. In reality, the practice of selling directly to a real estate investor is fairly common. According to the National Association of Realtors, roughly one in five real estate transactions involve an all-cash sale — more than half of those (13% of all sales) also involve an investor-buyer.
There are many advantages to selling your house for cash. Before you assume you’ll lose money on such a deal, consider the following 5 advantages of a cash offer on your home.
#1: Closing on Your Schedule, on Your Terms
A cash offer often means you can get through the paperwork and to the closing table in a few days rather than in several weeks. You also don’t have to coordinate schedules with lenders, real estate agents, and other professionals often involved in the real estate transaction when a mortgage is required. When you want cash fast, this is the best solution. You negotiate the selling price directly with the buyer, agree on a closing date and time, and then it’s done!
#2: Eliminating Unnecessary Expenses
Many people who choose to list their home themselves without an agent and add-on expenses such as advertising costs, staging, extensive repairs, and real estate commissions.
Although you could work with a licensed real estate agent if you prefer, selling your home to an investment-buyer firm like Frank Buys Houses makes sense if you want cash fast and don’t want to spend money on agent commissions or expensive repairs to get a house ready for prime-time showings on the market.
#3 Converting Investment Properties to Spendable Cash
Selling your home for cash is a great way to quickly reduce rental property inventory. Whether you want to get rid of the hassles that naturally come with being a landlord, or you’ve decided to reallocate your spending and investments, a cash sale arrangement means you have total control of your assets.
A quick cash sale means you can sell a less valuable property to reinvest in a better property in another neighborhood, take care urgent personal needs, or simply build funds in your bank account.
#4 Reclaiming Your Time
According to RedFin, the average home in Stockton, California, spent 29 days on the market in January 2020. In November 2019, Zillow showed reported an average of 67 days. The market shifts, and inventory waxes and wanes. Why wait for buyers to find your listing when you can have an offer from an investor-buyer within 24 hours and have cash in hand within a week?
Cash offers mean you aren’t wasting time waiting for potential buyers to tour your property, consider their options, and make an offer. Then there’s the waiting time spent on inspections, mortgage application reviews, and coordination with closing agents.
#5 Banishing Stress
If the previous four advantages are not enough to convince you that cash offers are a legitimate way to sell your home or other real estate property, perhaps getting rid of stress in your life appeals to you. Unlike traditional real estate transactions, most cash offers are stress-free.
There is no pressure to accept any deal, and you have no costs to explore the option. So, worse case scenario, you spend one or two days in conversation with an investor-buyer and then you either have a scheduled closing and money in an escrow account awaiting finalization, or you shake hands and part ways to pursue other options. What do you have to lose?
If you’re ready to sell your home for cash, contact Frank Buys Houses today. We’ll make you a fair cash offer, and will provide you with full transparency throughout the entire process.