So you’ve done your research and are stuck between selling your house for cash or hiring a real estate agent and listing it on the market. Both choices have their benefits, so when is it best to use each option?
If you have time to dedicate towards getting your home ready to show to potential buyers and can afford to have it sit on the market for a while, you might consider hiring a real estate agent and going that route.
However, if you find yourself with the lack of time or resources to go through that process, selling your home directly might be the best option for you. Even though anyone can sell to a cash home buyer, it’s a smart solution to your problems if you find ever yourself in a number of sticky situations. Perhaps you need to relocate quickly because of a new job offer in a different city. It could be that you’re going through a divorce or that you’ve inherited a house that you don’t really want. Some folks find themselves out of a job and facing the dreaded foreclosure. Or maybe your house has already been on the market for a while and just isn’t selling, and holding onto a house, especially in a place like Austin, can be costly. No matter the reason, selling your home for cash will not only give you instant funds but peace of mind.
Selling for Cash— The Pros
The sale is less likely to fall through. This kind of thing happens all the time with houses on the market. A buyer is lined up and a deal is ready to go through, only for the buyer’s bank to not approve the loan. Then it’s back to square one. A perk to selling directly is that cash buyers don’t need to attain third-party financing because they already have the cash in hand. And since financing is where most real estate deals fall apart, you’re more likely to have a successful transaction when dealing with a cash buyer.
It saves time and is convenient. It can take months for a home to sell on the real estate market— and let’s face it, sometimes we don’t have that kind of time. And even if you do find a buyer, you can go through weeks of negotiating, counteroffers, and waiting on various approvals. Selling to a cash home buyer expedites the selling process, and in most cases, you can have your cash within seven days— sometimes even the same day! Once you have an offer, you get to decide when you want to close. Everything can be on your schedule.
You don’t have to make repairs. When you sell your home through a real estate agent, you will have to jump through hoops like home inspections. Oftentimes, you’ll have to make repairs and small remodel just to get your home fit for the housing market. Even if your home doesn’t need repairs, you’ll probably want to have it deep cleaned so it looks presentable for open houses and home tours. The great thing about cash buyers is that none of this is necessary. Cash home buyers will purchase your home as is, effectively eliminating the need for repairs and cleaning. Just one less stress to worry about!
You get the cash. Aside from saving money on costly fixes and upgrades, selling your home directly means you don’t have to pay the middleman. Forget about the hefty agent fees and commissions– you get to keep what is yours when you sell your home for cash.
Selling for Cash— The Cons
There are scam artists that pose as real estate investors. It’s a scary world out there, folks. Unfortunately, there are people who might try to take advantage of your situation and scam you with phony home buying offers or fraudulent financial transactions. Some are shady middlemen who never fully disclose who exactly is purchasing your home. This is why it’s important to remain vigilant during the home selling process.
Homeowners may end up selling their home for a lot less than its market value. It’s sad, but it’s true. As mentioned above, there are some cash home buyers out there that will try to take advantage of vulnerable situations and offer amounts for houses that are way lower than what the home is actually worth. And when people are in a predicament, they can feel as if they have no other option but to take the low offer. This doesn’t have to be the case, though!
Luckily, these risks can be mitigated by doing research and finding a reputable buyer. Here at Houndstooth Cash Buyers, we buy houses in Austin and treat sellers with the honesty and fairness that they deserve. We are trustworthy professionals focused on finding solutions to your particular problem. If you think that selling your house for cash is right for you, don’t hesitate to reach out to us today!