{"id":15376,"date":"2023-09-29T15:05:48","date_gmt":"2023-09-29T19:05:48","guid":{"rendered":"https:\/\/www.homeinc.com\/?p=15376"},"modified":"2023-10-02T09:37:59","modified_gmt":"2023-10-02T13:37:59","slug":"should-you-accept-less-money-for-your-house","status":"publish","type":"post","link":"https:\/\/www.homeinc.com\/blog\/should-you-accept-less-money-for-your-house\/","title":{"rendered":"Should you accept less money for your house?"},"content":{"rendered":"

Should you accept less money for your house?<\/h1>\n

Cash offers\u00a0can be very appealing if you\u2019re trying to sell your house quickly. If you\u2019re approached by an \u201coff-market\u201d buyer, you\u2019ll avoid staging and showing your house, paying real estate commission fees, and even making repairs. Even if a buyer submits a cash offer after you\u2019ve listed your home, the closing process is quicker without the need for mortgage lender approval.<\/p>\n

That makes cash offers a popular option. According to the National Association of Realtors, cash offers account for\u00a016% of residential home purchases<\/a>. But cash offers also come with some drawbacks. You\u2019ll almost always get a lower price for your home if you accept a cash offer, and you\u2019ll need to watch out for\u00a0\u201cwe buy houses\u201d scams<\/p>\n

There are a few questions you should ask yourself before accepting a cash offer for your house.<\/p>\n

Do I need to move quickly?<\/h2>\n

Marketing your home for sale can be time consuming and stressful, and some sellers simply don\u2019t have the time to show their house to potential buyers and wait for the highest bid. When a buyer is applying for a mortgage loan more time is required for home inspection. Once you get an offer on a house, it takes an average of\u00a047 days<\/a>\u00a0for a sale to close with traditional financing with a lender involved.<\/p>\n

If a buyer\u2019s financing falls through, you\u2019ll have to restart the process of listing and showing your house. But with a cash sale, it may be possible to close in as little as one or two weeks. If you\u2019ve accepted a job offer in another state or otherwise need to relocate in a hurry, finding a buyer who wants to pay cash could be the ideal solution for you. You\u2019ll still need cash buyers to provide proof of funds to make sure the deal will not fall through.<\/p>\n

If time is no object, on the other hand, you\u2019ll probably get more money if you wait for a traditional offer on a house. Kelly Baca, Broker Associate for Coldwell Banker, said that cash sales tend to be lower in her experience, and reminded sellers that whether or not a buyer gets a loan, the money is cash for the seller at closing.<\/p>\n

Another downside of a quick sale is that some cash buyers may rush you to move out before you\u2019re ready. Others, on the other hand, will offer more flexibility. When you sell through Homeinc, you can close in as little as 10 days or take up to 60 days.<\/p>\n

Am I strapped for cash?<\/h2>\n

You might be selling your home to downsize because you need money. If your savings account isn\u2019t stocked, the costs of getting your home ready to sell can be an impossible burden. Here are some of the expenses you can expect to incur:<\/p>\n