What Are the Benefits to Selling Your Home for Cash?
Selling a home for cash has proven to be the right move for many homeowners in the Orlando area. Our company frequently receives questions regarding our cash buying process, and we pride ourselves on keeping you as up-to-date as possible. On this page, we’d like to share some of the incredible benefits that can come from selling a home or other property for cash.
Selling for Cash is Quick and Efficient
We’re obviously biased when it comes to our patented 5 Step Process, but selling a home tends to be a quick and simple procedure when working with a professional cash home buyer. Eliminating the need for additional steps such as loan applications means a lot less cumbersome baggage that can weigh down a deal. The average non-cash home transaction takes at least a month to close. Our process allows you to close promptly and without all the extra effort on your part!
Selling a home for cash has proven extremely beneficial for clients in short sale scenarios. The Orlando housing market has seen its fair share of foreclosures in recent years, but we can work with you and your lender to prevent this devastating loss and reach a reasonable settlement.
(For Reference: A short sale transaction is when a home is sold for a price that is actually less than the loan the homeowner still owes to their financial institution.)
Avoid Seller Headaches and Costly Complications
Did you know that 27.94% of sales fell through in the last three months of 2015? This is unwelcome news to anyone trying to sell a home quickly– or anyone trying to sell a home period.
Though the reasons the sales fell through obviously varied, most can be put into one of these four categories:
- The home buyer changed his or her mind
- The home buyer was unable to secure mortgage finance
- The survey unearthed a problem with the property
- Chains broke down
As the seller, you are usually helpless to prevent these headaches and costly complications. And who wants such an important transaction to be outside their control?
When you sell your home for cash, none of these factors typically become an issue. Once the cash has been exchanged, no one can back out or get last minute cold feet– things that can make a hugely negative impact on the seller’s financial situation. There are no unpredictable mortgage qualification situations or complex chains that can break. Lastly, Cash Home Buyers Orlando sales are “as is,” so there’s no need to worry your survey will scare us off! This brings us to our next benefit…
Sell Your Home “As Is”
When you sell your home for cash, you don’t have to worry about the repairs the home requires. Unlike the traditional real estate market, it doesn’t matter what your home looks like, or what work is needed. We will buy your house as-is and handle any repairs that are needed.
Not only do we take care of the repairs, but we hire contractors at discounted rates due to the large amount of work we need done on our purchased properties. If you go through a lender on the other hand, they will require numerous repairs to get the house to meet their requirements and lending criteria.
There is no reason to waste time, money, and effort on a home you no longer want! When you sell your home “as-is,” you save yourself all three.
Save Money on Realtor Fees and Advertising
Selling your Orlando home for cash also saves money on realtor fees and/or advertising.
Hiring a realtor may initially seem like a good way to keep things simple, but hiring a good realtor isn’t cheap. A real estate agent makes his or her money by laying claim to a percentage of your home’s final sales price.
If you’re considering hiring a realtor, then take this into consideration. Also, most real estate agents are not willing to try and sell a home “as-is”. You’ll be expected to foot the bill for any necessary or suggested repairs.
What happens when you work with a cash home buyer in Florida? You keep the money that would have been spent on repairs AND hiring a real estate agent!
Selling your home yourself may seem like the more frugal option at first glance, but you can lose money this way as well. Craigslist and Zillow are free, but even “small” expenses like repeated advertising space in the local newspaper can add up.
More importantly, you will lose lots of time. Every minute you spend on your home sale is one you’re taking from another aspect of your life. Not only will you constantly be answering your phone, you’ll be showing your home often as well. This may require extra costs for cleaning ladies or even days you need to take time off work. Ads can also attract people who may not be able to buy your home in the first place! Some might even make an offer, and then the week the deal was supposed to go through, they tell you they weren’t able to get a loan. Countless hours, days, even months later… you’re right back to where you started.
Selling your home for cash guarantees a fast closing process…
- No added agent commissions
- No required repair fees
- Zero wasted time
Work with a Cash Home Buyer to Avoid Foreclosure
Despite the best preparations, many homeowners inevitably face unpredictable life situations and the ensuing financial hardships that come with them. This is a nasty turn of events that often leads to foreclosure.
If your home is in pre-foreclosure, chances are you still have options! And one excellent option is selling your home.
Since time is of the essence, we wouldn’t recommend hiring a realtor or trying to sell your home yourself. Selling your home for cash is much more efficient and effective way to prevent the foreclosure. Better yet, there will be no evidence of the foreclosure on your credit history and you’ll even walk away from this serious situation with some cash in your pocket.
Remember, pre-foreclosure doesn’t mean that foreclosure is inevitable. Selling your home for cash is a viable option worth considering under these circumstances! If you’d like to learn more about avoiding foreclosure, please click here.
Treading Carefully When Selling Your Home for Cash
Some homeowners feel hesitant about taking cash for their property, since many investors offer less than the asking price. This is worth considering, but it should be weighed against the benefits you’ll receive.
First off, the accumulated time saved is significant. Depending on the housing market conditions and the price your looking for, it can take months or even years to sell a home. You’ll also save money on the additional fees you’d have spent on a realtor.
There are a number of specific property and land contracts that allow companies like us to purchase real estate listings with cash. If the offer we make on the FAR BAR contract is agreeable to you, we will pay you the final sales price at the close of the deal. We’ll also work with a local title company that will handle mortgage payoff, lien search and any other essential paperwork.
You should know that there are fraudulent “home buyers” looking to scam people into selling their home. That’s why we implore our readers to take extreme care when choosing a cash home buyer in Orlando.
As you can see, there are significant benefits to selling your home for cash. If you work with us or another reputable agency, you will be able to experience them firsthand! If you have any questions, please don’t hesitate to get in touch!