Selling your home can be a long, drawn-out process with many twists and turns and waiting periods before you have your money in hand. Read on to learn the benefits that await when you sell your house for cash!
Selling a House to Lenders
As you decide whether or not you should sell your house for a cash offer, it’s best to understand how selling to a lender works. In most cases, people who sell their homes go through a real estate agency and market their property. Then, potential buyers make offers before applying for a loan.
Although the time and effort you put into selling your home begins when you decide to put it on the market, the real problem with selling to lenders starts only once you’ve accepted an offer. Suddenly, you’re on their timeline and must wait for the buyer’s loan to come through in order to close on the house. Selling to lenders also involves what feels like endless paperwork, and sometimes even a sale that seems sure can be overturned by financial roadblocks the buyers run into.
So here’s why you should consider the benefits of selling a house for cash.
- Cash Offers Are Quick Transactions
With lenders, a bank or a mortgage broker stands between you and closing on your property. The potential buyers will need to hand in various documents and appraisal reports before their mortgage gets approved. This can take 30-45 days, or even longer if the lenders run into some issues during the process.
Throughout this process, both the buyers and sellers need to fill out stacks of paperwork and wait at the mercy of the bank or mortgage broker. There are many possibilities for something to go wrong along the way and delay the sale.
That’s why one of the major benefits of selling a house for cash is how much it speeds up the process. You should sell your house for cash if you want to cut out all the paperwork and waiting time and get the property off your hands in as little as two days.
- Fewer Obstacles in the Way of the Sale
When selling a house to a conventional buyer, multiple parties get involved. There will be an appraisal agent, real estate broker, and the people in charge of approving the mortgage. One benefit of selling a house for cash, especially to a company that invests in real estate, is that fewer people get involved, and thus, there are fewer opportunities for delay.
When selling your house for cash, you don’t have to worry about scheduling meetings with real estate and appraisal agents, then open houses and showings, talks with buyers, and time to go over paperwork. You won’t have to worry about an appraisal agent finding something that brings down the value of your property, or a lender backing out of a mortgage deal with a buyer last-minute. Avoid the hassle and enjoy a quick, seamless transaction when selling for cash.
Want to find a cash buyer in the Virginia area? Get in touch with Integrity RE Solutions today!
- Expect Reliable Offers
When selling property to conventional buyers, you know that they are dependent on lenders to complete the sale. With cash buyers, however, once you’ve verified funds you can be sure that they are able to make the purchase.
A cash offer is more reliable than an offer from a conventional buyer, since the person offering cash gets no benefit from delaying the deal. Offers are sure and backed up by real funds, and you can almost always count on a cash buyer going through with a sale, and quickly.
4. Skip the Appraisal
Typically, it is the bank or financial institution responsible for approving a buyer’s loan that requires an appraisal. When this happens, you’ll have to schedule time for an appraisal agent to come to the property and check for anything that may bring down the value of the home. Some appraisal agents may flag insignificant issues that then cause significant trouble.
According to the national association of realtors, 20% of contracts that are terminated end because of appraisal issues. Avoiding unnecessary issues or last-minute terminations is just another benefit of selling a house for cash.
Cash buyers, especially professional ones, are typically experienced and do not request an appraisal. That immediately cuts down on your time and the possibility of something going wrong during the sale. Plus, you may get better value on your house this way.
5. Minimize the Need for Repairs
Lenders or appraisal agents may request repairs, or your real estate agent may suggest some home improvement before showing the house. Cash buyers, on the other hand, aren’t usually buying houses to live in them. They often purchase to flip the house, and therefore will go about any repairs or renovations themselves.
That’s why, if you want to get a house off your hands quickly without having to put any additional work into it, you’ll appreciate this benefit of selling your house for cash.
6. Less Time Spent Negotiating
Going back and forth with a prospective buyer about the price of a property can be time consuming and add unnecessary stress, especially if you are an inexperienced negotiator. You should sell your house for cash if you want to negotiate less, and maybe even skip the haggling altogether!
Integrity RE Solutions uses sophisticated software to calculate a fair price for property based on similar homes for sale, so you can avoid negotiations and settle for a price that works for both parties.
Plus, cutting out the negotiating means you may not need a real estate agent at all. That way you get more of the cash for the sale without having to pay extra fees along the way.
7. Avoid the Risk of Foreclosure
If you’re selling your home because you just can’t afford to pay for your mortgage any more, going with a cash buyer is your best shot at avoiding foreclosure. With a conventional buyer, you’ll still need to keep up with payments throughout the whole process, which can span months if you count showings, negotiations, and waiting on a mortgage approval.
Foreclosure happens when you can’t make your house payments–typically you get a grace period of two or three payments before this comes into play. In the case of foreclosure, the entire sale process is greatly complicated and your credit score or ability to get financial assistance in the future is impacted.
With a cash buyer, you can count on a quick and easy sale, sometimes in as little as a few days! If you’re staring down the possibility of foreclosure, this solution can be life-saving.
8. Avoid Showings and Marketing
No matter how you go about it, selling a house is a stressful process. A big part of that stress? All the time, effort, and money that goes into marketing your property and showing it.
Typically, marketing involves hiring a real estate agent, fixing up various issues or outdated parts of the house, then paying for advertisement. Maybe you take out an ad in a local newspaper or schedule open houses that need to be staged. This may cost you heavily.
That’s why the benefit of selling your house for cash is that you can skip all this! Most cash buyers will seek you out rather than the other way around, and won’t require more than a quick look through the property.
9. Get Easy Cash
This may seem obvious, but perhaps the greatest benefit of selling a house for cash is that you get CASH! Walking away with quick cash can be especially important if you’re in the middle of a divorce or in a tough situation financially and need to act fast.
You’ll also be able to avoid some fees when selling your house to a cash buyer, such as the lender and real estate fees that can add up quickly. Simply decide you are ready to sell and get cash quickly, even within a few days.
Why Sell to Integrity RE Solutions
If selling your house to a cash buyer sounds like a dream come true, that’s because it really is. Cut out the hassle of a conventional sale, and get out of it with quick cash. When you sell to Integrity RE Solutions, you also can trust that you’re getting the best possible deal for your home.
That’s because the team at Integrity RE Solutions are true professionals who are experienced in buying properties for cash. They’ll get the process done right, and fast, so that you can be relieved from the burden of owning your home with a straightforward and efficient deal.
Want to learn more about selling your Virginia property to Integrity RE Solutions? Reach out today to learn more!