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5 Financial Benefits of Selling Real Estate to a Cash Home Buyer

Posted by AdminGalvan on October 28, 2020

The home-selling process is not only time-consuming but also taxing for most homeowners. Individuals facing foreclosure have no time to lose, as they might end up losing their homes to the bank without gaining a single cent.

In such scenarios, homeowners have no other alternative but act fast. Fortunately, cash home buyers buy properties without any specific requirements in terms of repairs, cleaning, or staging.

Take a look at the most important financial benefits of selling real estate to such buyers.

Fast home-selling process

In recent times, most homeowners look for a quick sale process, refusing to waste time and lose their patience by going through the traditional experience. Trusting the sale of your property in the hands of a realtor requires a couple of months for the process to be completed, as it takes time for realtors to take appealing photographs of your house/apartment, advertise it on the market, and plan an open house.

Home buying companies, on the other hand, skip the standard procedure, as these professionals waste no precious time on applying for a mortgage. Cash buyers require a maximum of two weeks to complete the transaction, during which you’re only obliged to fill out some documents. It’s undoubtedly the fastest way to move to the next chapter or solve your financial problems. Click here to check out the top reasons why people decide to sell their homes.

No fees

Another financial benefit of selling real estate to a home buying company is avoiding realtor fees. Although most of these professionals are indeed helpful in the home-selling process, their services are far from inexpensive. Real estate agents are known to charge a commission of approximately six percent, hence earning a large portion of the overall sum.

In contrast, cash home buyers charge no fees to homeowners, not even a single percent of the sum. By selling your property to such a company, you’ll save money on some additional costs as well. Believe it or not, some real estate agents charge separate fees for advertising one’s property or organizing an open house.

No need for repairs

When selling your house/apartment in the traditional way, you are expected to make some property upgrades prior to putting it on the market. In most cases, homebuyers hire a home inspector to examine the condition of the property in search of mold, infestation, plumbing issues, problems with electricity, roof defects, etc. Consequently, homebuyers require sellers to have these issues fixed in order to make the purchase or ask them to sell the property at a lower price.

Cash home buyers, on the other hand, require no repairs before buying one’s house or apartment. Home buying companies such as, buy houses in an as-is condition, requiring no cleaning or staging. As a result, you will waste neither time nor money on repainting the walls, redoing the floors, or repairing the HVAC system.

Additionally, the offers you’ll receive from these buyers will probably be lower than those in the real estate market. However, agreeing to sell your property for a lower price exempts you from hiring professionals to take care of the necessary repairs. Keep in mind that the services of repairmen tend to be pricey.

Better chances to sell your house

Another financial benefit of hiring such a company is having better chances of selling your property. It’s no wonder homebuyers to have second thoughts before closing the deal. Sometimes they don’t go through with the purchase due to financial issues.

For instance, the bank might consider them ineligible for a mortgage. Conversely, some homebuyers might change their mind because the home inspection report didn’t turn out as expected.

No foreclosure

When faced with foreclosure, homeowners can either lose their property to the bank or sell it to a cash buyer. By choosing the latter alternative, homeowners will be capable of paying off their home mortgage and still have some financial support in the period that follows. Instead of losing all equity, you’ll have a chance to start over.

Bottom line

Selling your property for cash is the best option when facing foreclosure or having no time to do repairs!

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