The median home sales price in the US was $436,800 in the first quarter of 2023. This is a nice sum, but if you go the traditional selling route, it can be more trouble than it’s worth.
Why not sell your home for cash instead? While this admittedly usually fetches a lower price, you can actually walk away in a much better situation.
Wondering how? Then read on. Below are the four benefits you can get if you accept a cash offer on your house.
1. You Can Sell As-Is
Is your property a little worse for wear? Then you’d have to pretty it up and stage it to attract buyers in normal situations.
However, when selling for cash, the buyers understand that what they see is what they get. So you won’t have to deal with pricey repairs, renovations, and staging costs.
2. It’ll Be Faster
Traditional home sales can take months to close. If you don’t have time to wait, and you’re thinking, “I need to sell my house fast“, then taking a cash offer is the way to go.
You won’t have to hire a real estate agent, stage the property, and show it to multiple interested buyers. You’ll only have to deal with one person, and because there’s no mortgage lender involved or underwriting, it’ll be a quick process. You can get a cash offer within 24 hours and have the money in your bank account before you know it.
3. There’s Less Risk
As we’ve just mentioned, there’s no mortgage lender involved, as the cash buyer already has the money ready to go. You won’t have to worry about the financing process falling through, which would put you back at square one again.
This makes a cash sale a fantastic choice for sellers who are anxious and need to move their property fast too.
4. It Saves You Money
It’s true that cash offers tend to be lower than those of traditional sales. However, when you total up everything in the end, you’ll come out on top by taking a cash offer.
You won’t have to pay for repairs and renovations, nor will you have to pay a real estate agent commission. You’ll also avoid loan fees, appraisal costs, credit checks, and processing fees.
In addition, since there’s a shorter closing time, you’ll have fewer days with things like mortgage interest, property taxes, insurance, and utilities.
A Cash Offer Can Be Advantageous
As you can see, a cash offer has several benefits. Mainly if you need money fast and don’t want to upgrade your house before selling, then choosing a cash buyer is an optimal choice.
The best thing to do is to compare the pros and cons of a traditional sale vs a cash one. Only then can you truly make a choice that’s best for your personal situation.
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