The Five Most Common Reasons People Sell Their Homes As-Is for Cash
Selling a home on the traditional market can be a painstaking process, which is why many people are accepting cash offers for their homes instead. In contrast to a traditional sale, when selling a home for cash, sellers do not need to make costly repairs or find a realtor to list their homes for them. In addition, sellers save on closing fees that they would have to pay their realtor upon closing. In a cash offer sale, sellers can close on their timeline and are therefore able to access their cash quickly if needed.
With this in mind, outlined below are the top 5 reasons that people across the country are selling their homes as-is for cash.
- A Vacant Home Can be Sold Easily – When listing a home on the traditional market, sellers of vacant homes typically need to stage their homes, which can come with a hefty price tag. Since cash buyers don’t mind if a home is vacant, and often require that the homes they buy be vacant at closing, sellers of vacant homes do not have to deal with the time and hassle of staging their homes when selling to cash buyers.
- No Worries About Financing – When selling a home for cash, sellers do not need to worry about buyers falling through due to a lack of access to adequate financing. Cash buyers have the funds to purchase homes at the negotiated purchase prices, so sellers can rest assured that their cash buyer will not fall through, especially if a seller needs to move promptly or access the cash tied into their home quickly.
- Flexible Closing Process – Cash buyers typically do not require sellers to make any repairs themselves before purchasing their homes. Instead, cash buyers may ask for a repair credit to be deducted from the initial offer amount to offset the repairs that they will need to make after closing. This provides ease to sellers by taking away the hassle of trying to find and manage contractors to make repairs, and allows sellers to close on their home sales and access their cash faster.
- Ownership of When the Sale Happens – When selling a home for cash, sellers can control when they close and receive their cash. If sellers need to sell quickly, they are able to push for a short closing timeline of two to three weeks, which is much quicker than the timeline of a traditional home sale.
- No Repairs – Cash buyers buy homes as-is, meaning that sellers do not need to make repairs before selling their homes. Most cash buyers will simply ask for a repair credit equal to the amount of money it would cost a seller to make the repairs themself, and then deduct that amount from the initial offer price. This way, the cash buyer takes care of any repairs after closing, so that sellers can close on their home sales and receive their cash faster.