There is a laundry list of benefits that come with selling your home for cash. Let’s go over them below!
No-Hassle Home Selling
While there’s still a mountain of paperwork and various legalities to deal with, a sizeable chunk of the work of selling a house is skipped right over because no banks are involved. This also speeds the process up considerably.
Quick Closing
Closing on a house when selling through a lender can take over a month, usually around 48 days. When there is no lender involved when selling for cash, the closing can take as little as two weeks.
No Realtor Fees
If you’re selling to an iBuyer or a We Buy Houses company, you won’t have to worry about realtor fees. These buyers are essentially middlemen. They are going to turn around and sell your house after purchasing it from you, so there is no need for realtors to get involved.
Flexibility
Cash offer selling is great for selling your house if you want flexibility. Perfect for needing a quick sale, cash offer transactions are lightning-fast compared to traditional mortgage sales.
Many buyers interested in purchasing for cash are investors and house-flippers, meaning they’re not expecting to move in tomorrow. There’s a great chance that–if you need a little extra time to move out or get your new home secured–they’d be happy to give you some extra time.
Less Uncertainty
One of the biggest perks of a cash offer sale is the confidence that a sale will go through. When selling to a buyer who is buying via a mortgage lender, there are quite a few ways that a mortgage application could fall through.
There are fewer qualifications to deal with when agreeing to a cash offer, so the chances of the offer falling through at the last minute are very slim.
Skip Inspections and Repairs
While inspections are still a good idea, they’re not required with a cash sale. Any repairs that might crop up from an inspection hold much less weight since many cash offer buyers are investors and house-flippers who are expecting to fix up the property for reselling.
