Selling your home is a daunting task. What’s more, the traditional method of selling can be quite arduous. A great alternative is selling your home for cash to private real estate investors. However, many people hold mistaken beliefs that this is a poor choice. Before you forgo this option, here are some common myths about selling a house for cash that you shouldn’t believe.
MYTH: Cash Buyers are Corrupt
Real estate cash investors are always looking for properties with potential, but you shouldn’t assume they are looking to cheat you. Look for verified ratings and reviews from other customers. You’re likely to find a quality investor who can create a win-win situation for you by doing your research.
MYTH: You Need to Repair Your Home Before Selling
A great reason to consider a cash buyer is that you can avoid costly home renovations. Many traditional buyers want turn-key homes, which means you’ll have to make repairs and updates if you sell your home the conventional way. Most cash buyers will buy your property as-is, meaning you won’t have to spend lots of dollars for kitchen and bath remodels, a new roof, or other expensive fixes that drain your bank account.
MYTH: You Can Get More Money on the Traditional Market
Just because more people might see your home when you list it on the real estate market does not mean you will sell it faster or make more money. There are more variables stacked against you in the traditional market, such as time of year, the strength of the market, and the limited pool of possible buyers. If you consider selling a house for cash, you can skip all of these obstacles and expedite the process.
MYTH: Negotiations Will Delay the Sale of Your Home
Your home can stay on the market for as long as three months (or sometimes longer!) by going the traditional route. It also can take nearly 90 days to close on your home once you accept a buyer’s offer using traditional financing methods. The process to close with a cash buyer is much simpler, meaning you can generally close in about one week. Most investors are ready to extend a cash offer after they walk through your house once, which allows you to use the much-needed cash a lot faster.
MYTH: Cash Buyers Offer An Unfair Price
A lot of sellers fear that investors will extend only lowball offers. Selling a house for cash is a great option because you can avoid costly preparation costs such as staging, inspections, and appraisals. You’ll receive a fair and immediate evaluation of your home.
Consider the advantages of selling your home to a cash buyer. Investors are looking to earn your business, and you shouldn’t let hearsay hold you back from going this route. For more information on how we can help you sell your property quickly, please contact our team today.