Selling houses for cash is nothing new, investment companies and fix-and-flip contractors have been doing it for years. The key benefit for you, the homeowner, is that you get a solid cash offer for your home that fits your schedule. There is no listing of the property, waiting for the ideal buyer that wants your home, constant showings and open houses,etc.
Now, you may ask yourself “what’s the hidden catch?” Obviously there must be one if someone is willing to shell out their hard earned money for your home.
What you have to keep in mind is that these people are “property investors”. They are buying your home so that they can hopefully make a bit of money fixing (if needed) and reselling your house.
Why then would you consider selling your home for cash if the investor is going to make the money and not you?
What you need to consider in a traditional real estate transaction is your property is listed with a real estate agent, and they make a percentage (generally between 3 and 7 percent, but it’s not set in stone and it varies by realtor and realty company) from the sale of your home.
With a cash offer, there is no commission to be paid. Your cash offer may be less than what a real estate agent would list your home for, but you need to keep in mind that you won’t be paying any commissions on that cash offer. That money is yours. The investor making the cash offer is taking the risk that they can resell your home and potentially make a profit doing so.
You get a fixed dollar amount for your home and you set your move out terms and it’s done. There is no back and forth negotiation between you, a real estate agent and a potential buyer where you are trying to get top dollar for your home and the buyer is trying to get it for what they want to pay.
If you are ready to sell, a cash offer might be of value to you. Find out more by sending us some info about your property today!