Are you in the process of selling your home? If so, you will likely be selecting between multiple offers. It can be hard to weigh in on the pros and cons of the various options. For example, should you always go with the highest bid, or are there other things to consider? And what are the perks of accepting a cash offer compared to going with a more conventional, lender-funded one? Here are three benefits of selling your home to a cash buyer.
Going with a cash offer can take weeks or even months off the amount of time it takes to sell your home. Selling your home is a lengthy process anyway, but waiting on funding draws it out even longer. Typically, with a lender-funded sale, you can expect to add around 6 weeks to the process. If you need out of your home fast, you can cut almost 2 months from the timeframe by going with a cash buyer.
Many homeowners can tell horror stories of their buyer’s funding falling through and having to start the home selling process all over again. While preapproval for a loan can offer some reassurance, no loan is guaranteed until closing day. This can cause major anxiety in the meantime. If you want to go with a sure offer that isn’t at risk of falling through, choose a cash offer. A cash offer means that the prospective buyer has the funds already available to close at the time you both appoint.
Cash home buyers typically have fewer requirements than buyers relying on a loan. This is because most lenders come with their own set of requirements, including appraisals, inspections, and offer prices. Many cash buyers are willing to negotiate with you on those things and more. In fact, if your cash offer is coming from an investor, house flipper, or home buying company, you might even be able to sell your home as-is.
When choosing an offer, don’t be blinded by the offer price. There are other factors to consider. One of these factors is the reduction in sale time, increase in security, and fewer requirements that come with a cash offer. It is a good idea to weigh these benefits carefully when making your selection.
Selling to a home buying company gives you all the benefits of a cash sale and more. Green Way Homes takes all the hassle out of a conventional home sale. Best of all, you can close in 30 days or less. Click here to learn more!