Credited by Ryan Fink
Have you heard about all of the great benefits that all-cash deals have to offer? Do you know the benefits of accepting a cash offer on a house?
If not, you’ve come to the right place.
If you’re looking for a quick sale on your home, a cash offer may be what you need. To learn more about the benefits of selling a house for cash, keep reading. We’re going to detail all of the advantages that you can get when you accept a cash offer on your home.
The process of selling a house is difficult enough. To help your out, we’re going to break down each benefit/advantage that you may experience when you accept a cash offer on your home.
Once you hear these, you won’t want to go back.
1. Cash Offers Close Faster
With all-cash offers, you don’t have any lenders to deal with. Usually, a sale takes at least a month to go through. More often than not, it takes even longer to make a sale.
All-cash offers take around two weeks to close. This time accounts for filling out necessary documents, having those documents approved, and properly filing those documents.
However, because you don’t have to deal with a lender, you’re cutting the time by more than half!
With a faster closing period, you’ll be able to move out faster and get into your new home if you need to do so quickly. Whether it’s because of a new job or another commitment, some individuals need to move out fast. All-cash offers make it easier for these individuals to get moving quickly and easily.
2. Cash Offers Have Fewer Fees
Everyone knows that both buying and selling a home come with a lot of fees. Unfortunately, having all of these fees comes with the territory of buying and selling a house. There’s no getting away from all of them.
However, you can get away from some of them.
If you take an all-cash offer on your home, you’ll be able to avoid the fees related to lenders and mortgages. This is because all-cash offers don’t require mortgages because the buyer won’t be borrowing any money. While saving money, it also saves time as you don’t have to wait on documentation to follow through or fees to be confirmed.
It isn’t just a win for you. It’s also a win for the individual or family buying your home as well.
They don’t have to pay the fees related to getting a mortgage or working with a lender. Plus, they’ll already be saving money by not paying any interest on the house through a mortgage payment.
In addition, most sellers looking for all-cash offers don’t use a real estate agent. Therefore, they avoid those fees as well.
Both parties save tons of money by going for an all-cash deal. It’s amazing that more people aren’t looking for this kind of real estate experience.
3. Cash Offers Are Less Work
Overall, all-cash offers are less work than traditional offers involving lenders and mortgages. It’s easy to see how a process that takes less than half of the traditional processing time would be easier.
All-cash offers take less work overall because there are fewer people to interact with, less paperwork to fill out, and fewer things to take into consideration. One of the biggest money and time savers is the fact that most buyers don’t expect the present owner to do a lot of improvements to the home. In fact, some of the buyers do the fixing up themselves.
Many all-cash buyers are real estate investors who are seeking to flip houses and/or rent them out for profit. This isn’t always the case, but it is a common situation that could benefit you in the end.
If you do find that your buyer prefers that you fix a few things up, you can “shave off the top,” as some sellers say. This phrase means that they lower their asking price to make up for the investment that the buyer is going to make in fixing whatever problem(s) they have identified.
4. Cash Offers Don’t Require Marketing
Many sellers who are looking for all-cash buyers don’t bother with marketing their home at all. In fact, there are many places that will help you sell your home.
From resourceful real estate companies to savvy real estate individuals, there are plenty of options for you in regards to buyers for your home. Marketing isn’t required for this process because the sellers find the buyers in this kind of market rather than the other way around.
Of course, the buyers do some finding and sleuthing of their own, but it’s usually the seller that finds the buyer in an all-cash deal. This is especially good news for individuals who aren’t skilled in technology, as real estate listings, advertisements, and other correspondence is done through real estate sites now. Say goodbye to haggling with these systems.
Don’t think that this puts you at a disadvantage, though. Even without marketing, it’s possible to maximize your cash offer. Don’t settle for a price that isn’t fair for your home.
5. Cash Offers Don’t Require Showings
While you’re forgetting the marketing, don’t forget to throw out the showings, too. You don’t need to worry about staging the house you’re going to sell.
Say goodbye to spending hours and hours trying to take the perfect photo and trying to hide everything for strangers that are coming to tour your home. You don’t need to deal with the stress and time it takes to put those events together.
All-cash buyers are less likely to attend a showing for the home. Plus, even if they want to see the home, it’s usually not a staging event.
Rather, they would rather have a small showing to look through the basics of the home. Some buyers even buy the property site-unseen!
6. Cash Offers Eliminate Lending Issues
While working with buyers who are using mortgages, you may run into financial barriers. Unfortunately, the individual or organization that is lending the money to the buyer can pull out of the deal at most points in the deal.
Without financial assistance, most families cannot afford to buy a house. Therefore, the buyer is very likely to drop out of the deal if the lender drops the deal on their end.
Basically, if the lender drops out, you’re right back where you started.
Buyers who only use cash are less likely to drop out of the deal because they already have the money they need to buy the property. It’s just about figuring out if yours is the property they want to spend that money on.
7. Cash Offers Don’t Require Negotiation
Most all-cash offers don’t require much negotiation. Some of these deals don’t require any negotiation.
If you’re not much of a negotiator, you could set a solid price for the house and take the offer that meets or exceeds it. There’s no need for negotiation in this kind of scenario.
This is especially great for individuals who are selling their home without the help of a real estate expert. Usually, sellers have negotiation help from these individuals. With all-cash offers, that’s usually not the case.
While there are plenty of well-known negotiation strategies that you can use while selling your home, not many of us are truly skilled in the art of communication. So, if you’re looking to avoid an argument, an all-cash offer may the best choice for you.
8. Cash Offers Are Less Stressful
Selling a house is stressful enough! Finding some way to make the process a little bit more enjoyable – or at least a little less stressful – is the key to getting through it all.
If you accept an all-cash offer on your home, you’re making the conscious decision to make the process of selling your home a lot easier on yourself. Honestly, this even makes it easier for the person buying your home.
There are fewer people to interact with, fewer documents to sign, fewer fees to handle, and less work overall to deal with. It’s a winning situation for everyone.
Plus, you can use all of this extra time to find the next home you’re going to buy.
Finding an All-Cash Buyer
Now that you’ve seen all of the benefits of accepting a cash offer on a house, it should be clear that accepting an all-cash offer is the best way to go for more sellers. It’s fast, easy, and cheap.
Notably, all-cash offers are ideal for individuals who are looking to move quickly and avoid the usual stress that comes with fees, contracts, and other annoying documents. Say goodbye to that and hello to your new home.
Now, you just have to find an all-cash buyer to get started. Let us help you find the value of your property and find an all-cash buyer.
Find out the value of your home now and start your journey towards accepting an all-cash offer. You’ll thank yourself in the end.