Table of Contents
- The Core Benefits of a Cash Home Offer
- How Cash Offers Save You Thousands in Fees
- Special Case: Selling Inherited Properties Fast
- Why Cash Offers Are Ideal During Divorce
- Job Relocation Made Simpler With Cash Sales
- When Homeownership Becomes Overwhelming
- Cash Offer vs Traditional Sale: Key Differences
- Frequently Asked Questions
The Core Benefits of a Cash Home Offer
What’s the first thought that pops into your head about the home selling process? Naturally, many homeowners call up their local real estate agent or Google for realtors. Agents and realtors are pros, handling everything from home listings to closing sales.
However, you may be overlooking a better opportunity. Selling your home to a real estate investor is another viable option that provides distinct advantages when:
- You need to sell within days rather than months
- Your property requires significant repairs
- You want to avoid the uncertainty of buyer financing falling through
- You’re facing life transitions requiring immediate liquidity
It can also be a lifesaver if you’re rushed for time or overburdened with old properties. Even better, you enjoy a cash offer right in your hand. This means you get your money much quicker than traditional real estate transactions – often in as little as 7-10 days compared to the 45-60 day typical closing period.
How Cash Offers Save You Thousands in Fees
One of the realities of working with a real estate agent is fees. Agents work on commission (typically 5-6% of sale price) and don’t get paid until the house is sold outright. You may be responsible for listing fees, broker fees, and separate selling agent fees, too.
The above costs don’t account for other associated costs, either, like appraisal fees ($300-$500). Most homeowners go through an appraisal process before listing their homes for sale. Owners handling their own private sales pay for appraisals, as well.
Appraisals help determine your home’s value. Thus, they’re used to set listing prices, in addition to market rates. You would also pay for an appraisal if you wanted to take out a real estate loan.
When you sell a house for cash, you’re typically selling it in “as is” condition. Therefore, you don’t have to spend additional money fixing up the house for prospective buyers. A few necessary repairs here and there may increase cash offers if you’re selling your home to individuals, not investors.
This perk means you don’t have to spend a dime on marketing, either. Real estate agents must advertise open houses; these walk-in events may require additional costs, like home staging ($2,000-$5,000) and catering ($300-$800 per event). Home sellers handling their own sales also have to pay for marketing.
Instead, you can just call a real estate investor to start the cash offer process. One example to study is Wake County Home Buyers:
This company has a simple step-by-step process that delivers fair cash offers. Investors also work with real estate attorneys to streamline closing offers quickly. This helps you save money on legal fees ($1,500-$3,000) that you may otherwise pay through a traditional selling process.
Special Case: Selling Inherited Properties Fast
Did a deceased relative leave you a house or an old property? While a new home may seem like a great idea, these situations can be more trouble than they’re worth. A new home, whether it’s inherited or not, comes with additional costs. You’re still responsible for paying real estate taxes, maintaining the property, and avoiding penalties.
There are additional worries, like squatting (up 50% in vacant properties since 2019), break-ins, and pest control problems. Vacant inherited homes are more vulnerable to squatting, derelict conditions, trespassing, and injuries. As the new owner, you’re responsible for injuries that occur on the property; that includes trespassers under premises liability laws.
The home’s location may be too far away or not your ideal setting. There are plenty of reasons why owners want to unload inherited homes. Luckily, you don’t have to go through a traditional real estate agent to do it.
Real estate investors frequently purchase inherited properties for cash. They may have estate sale connections if you want to sell any leftover belongings, too. Otherwise, you’ll want to hire an estate sale service prior to selling your home to an investor.
Why Cash Offers Are Ideal During Divorce
Divorces are an emotional and financial toll. Sudden divorces also make homeowners feel like the rug is being pulled out from under them. Many couples find themselves in the position of selling their homes quickly – with 61% of divorcing couples opting to sell rather than have one partner keep the home.
Selling a shared home for a fair cash offer is an excellent idea for divorced couples who want to move on with their lives quickly. It’s also a good option for divorced couples who have little assets and could use the cash.
If one party leaves, the other party is also left with all the mortgage payments, repairs, property taxes, and other obligations. Receiving a quick cash offer can provide much-needed peace of mind during a difficult time financially.
Job Relocation Made Simpler With Cash Sales
Sudden divorces and monumental life changes often necessitate the need for a new job. When you’re desperate, you don’t want to pass up a great opportunity. Plus, your ideal job offer may ask you to move quickly (42% of corporate relocations require moving within 30 days), which doesn’t leave enough time for real estate agents and open houses.
These situations may call for a quick cash offer. Even better, you can get your money in as little as a week. You’ll have more time (and money) to find a new place, buy new job clothes, and pay for movers.
Save even more money by holding a garage sale. Decluttering is an excellent way to start fresh with a new life.
When Homeownership Becomes Overwhelming
The biggest challenges of owning a home have to do with cost and maintenance. Of course, the more repairs you have, the more money you’ll shell out in the end. These repairs and obligations add up, leading many to downsize their lives altogether.
While rental costs certainly add up, so do homeownership costs (averaging $9,390 annually beyond mortgage payments). That’s why you have to be strategic with upgrades and repairs. Home upgrades, like decks and dishwashers, should increase the house’s value.
You may find yourself in a neighborhood with depreciating home values, as well. This challenge is a real problem when it’s time to sell your home. Several factors can depreciate property values, from vacant businesses to blighted surrounding areas.
In the above situation, you may find it more economical to sell your home to a real estate investor for cash. Plus, you can avoid months’ worth of listing fees if the house sits on the market.
Cash Offer vs Traditional Sale: Key Differences
| Factor | Cash Offer | Traditional Sale |
| Closing Time | 7-14 days | 45-60 days |
| Fees | Minimal (often none) | 6-10% of sale price |
| Property Condition | Sold “as-is” | Repairs often required |
| Certainty of Close | 98% completion rate | ~75% completion rate |
| Financing Contingencies | None | Subject to buyer financing |
Frequently Asked Questions
How much less do cash buyers typically offer?
Cash offers average 10-15% below market value, but this accounts for savings on repairs, fees, and holding costs. When factoring in these expenses, many sellers net comparable amounts.
Are cash home buyers legitimate?
Reputable cash buyers are fully licensed real estate investors. Always verify credentials, check reviews, and consult your real estate attorney before signing.
Can I still sell for cash if I have a mortgage?
Yes. The cash buyer will pay off your remaining mortgage at closing, with any remaining equity going to you.
What’s the fastest possible cash sale?
Some investors can close in 3-5 days if title work is clear and all parties are motivated.
Discover the Benefits of a Cash Offer
Do you feel pressed for time? Don’t let your home sale stress you out even more. Consider the benefits of getting a cash offer for your home, so that you can be off on your new adventure as quickly as possible.
