Selling Your Home for Cash: Understanding What it Means and How it Works

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It’s nice to have options and the ability to decide what's best for us. Selling a house is no exception. When the time comes to sell a property, it’s nice to have the ability to use the traditional route of dealing with an agent or a cash buyer. Most homeowners assume the only successful way to sell a house is by hiring a realtor; that is simply false. Cash home buyers, commonly known as real estate investors, can provide a quick and efficient way to sell any house. The process of selling to a cash buyer is simple, but it’s important to note that all investors and developers are unequal. Ensure you select the correct cash house buyer; choosing the wrong company can cost you much money and time. Who Is Considered a Cash Home Buyer? A cash buyer is an individual who uses their funds to purchase a property. These investors do not use a mortgage or take out a loan; they have cash available for purchase. The funds can come from a savings account or the sale of another property. Cash home buyers are also known as real estate investors; these individuals will purchase a house and either complete repairs for resale or hold the property as a rental home. The seller receives the funds through a wire transfer or paper check issued by the title company or a lawyer at closing. Advantages of Using a Cash House Buyer There are many benefits to using a cash home buyer to sell a house; most of these benefits revolve around saving time and receiving the most profit. There are many situations where using a cash buyer will be the best option; some of these reasons involve house repairs, financial issues, or factors affecting time. Throughout this article, learn more tips about selling a house to a qualified cash buyer. Quick House Sale Most homeowners exploring selling property prefer a fast home sale; a property on the market can cost the seller valuable income. When using a home investor to sell a house, the whole transaction can move along quicker than the standard sale. Selling your home to a real estate investor in any market can be completed within two weeks. Lastly, using an agent can take months to finalize, so more homeowners are considering cash offers. Sell a House Completing No Repairs Another massive benefit of selling your home to a cash house buyer is that the seller is not required to repair any house. Cash buyers purchase property in its current condition and situation, and there’s no need to make costly repairs or updates. When using a realtor, most of the time, the sale will require repairs, which some homeowners cannot afford, but home buyers purchase property regardless of the necessary renovations. Pay No Realtor Fees When a seller uses a realtor, there are fees associated with the sale; most of these are based on agent commissions. A seller pays six percent of the total sales price to the agents involved. The six typically get divided by the sellers and buyers agents. There are no real estate fees when selling property to a cash home buyer. The seller is not responsible for paying any fees or closing costs. Saving money in any way possible is essential when selling a house, so avoiding added fees and expenses will make a difference in the seller's future. No Inspections or Contingencies As mentioned above, selling a house to an investor eliminates repairs but also eliminates property inspections. When listing a property on the market, the sale is contingent on financing and the property passing inspections. Cash home buyers wave inspections, purchasing the property in its current condition with no obstacles. Most investors understand the real estate numbers and what is worth their time; so when signing an agreement of sale, the sale should be finalized shortly after. Eliminating inspections and contingencies allows for a smooth real estate transaction. Home Investors Provide Easy Real Estate Sales There are many benefits involved with a quick property sale to a cash buyer. The ability to sell a house without completing any home repairs or inspections is very desirable, especially for homeowners living on a budget. Home renovations can draw more profit when the time comes to sell a house, but these updates can be expensive which may not be worth the risk. When selling property to a home buyer, the sale is usually completed within a few weeks. Homeowners facing foreclosure are stuck on a short time frame when selling the house; a quick cash sale is excellent for these individuals. In addition to a cash sale waving inspections and repairs, this method of selling also eliminates realtor commissions and other real estate fees. Agent commissions can add up to over six percent of the total sales price, this doesn’t include the sales tax or additional fees. There are no fees or closing costs when selling property to a cash buyer. Selling a house to a cash house buyer can be very beneficial but might only be the most appropriate option for some sellers. If you’re a homeowner with the time, money, and resources to make repairs and list the home on the market, it allows for the greatest profit but is not for everyone. It’s vital to weigh out your options to make the best decision. Selling a house can be life-changing, so approach it with guidance and much thought.

Selling your house for cash in Jackson? Get the best deal with our expert tips. Learn more about cash for houses in Jackson on our blog.