How Is The Home Selling Process Different With A Cash Offer?
How Is The Home Selling Process Different With A Cash Offer
The majority of home sellers prefer working with a cash buyer because it is a convenient, quick, and easy process. We all know that current home prices aren’t quite as low as they were in 2007-2008, but many sellers are still struggling to sell their homes for what they believe to be the “true value” of the property. The best way to determine the true value of your home is to have a professional appraisal performed on it.
Even if the property’s value is excellent, finding a buyer willing to pay a fair price is sometimes difficult. In most cases, it becomes a task of an extremely complex nature. Usually, professional real estate agents help you sell a house, and they are not successful every time; the real estate market situations vary from time to time – even an agent would leave you disappointed.
While having an absolute right to sell your house, facing a situation where you are forced to sell it for a much lower price in the market than what you expected can happen. But the question is why not consider a cash buyer? The offers aren’t according to your expectations or the prices start going down. A good opportunity to unload a property is cash selling; specify your own timeframe and get the process started.
Below the market price offer is potentially very helpful if you are in a situation where you can’t afford to pay additional costs and the time is running out. Traditional buyers’ priorities are different from cash buyers (we buy houses Pasco), they imagine themselves living in the house and want to make sure that there are no defects. Anyone would do the same thing in their place.
Cash buyers, on the other hand, don’t have any illusion about living in the property and they just want to complete the transaction as quickly as possible. They aren’t so concerned with the property’s condition but are only interested in buying a property at a reasonable price. We buy ugly houses in Pasco County Florida for cash.
In the hierarchy of home offers, the cash offer is at the top. Cash simplifies the buying process. Without lenders in the mix, you’ll save time and reduce the risk of the deal not going through. (1)
Selling your home through an iBuyer is more like the traditional home sale process where you work with an agent to determine a listing price, put your home on the market, show it to potential buyers and negotiate a deal through closing. You may make more money this way than by accepting a cash offer from an iBuyer. (2)
A cash buyer is a real estate investor who buys homes from owners in order to renovate and then flip them for profit. For cash buyers, it’s an investment opportunity to purchase a home in a down market or just look for a good deal to make some money. Their goals are long-term and they will be seeking out properties that they can hold onto for a while. Keep on reading to have a clear understanding of how a cash offer is different from the traditional one.
Your Florida property is in need of an all-cash offer? We buy houses in Pasco County Florida no matter what the condition.
No Hassle and Uncertainty
In a typical scenario, a couple will choose the home they want to buy look for a bargain, and then begin the process of trying to get their financing in order. This is where a lot of people can have difficulty because it may take several weeks or months before they know if it’s possible to actually purchase their dream home.
As a seller, you are left unsure as to whether or not you will get the sale. Staging, fixing repairs, and maintaining your home are all costs that you incur while waiting to see if the deal will go through. The concern is real, and there is a lot of stress involved in this process. However, sellers who accept cash offers give themselves the best chance of getting their homes sold quickly and with the least amount of drama.
Faster Closing Process
Cash buyers don’t have to go through the same process that conventional buyers do. They don’t have to jump through hoops or fill out endless paperwork. Instead, they can offer a fair price and close within 30 days. No need for appraisals or inspections, just a quick cash purchase. In a traditional sale, a buyer has to wait for a lender’s approval, then the closing date. Once the deal is made, it can take months before the sale is final and the property transfer takes place. With cash buyers, all of this can be done in a matter of days – we buy houses in Pasco County.
Expenses are often one of the biggest sticking points in a real estate transaction. Sellers have to drain a lot of money out of their pockets just to sell their homes. Paying for an agent, closing costs, shelling out thousands of dollars on improvements, like new paint and landscaping, and other expenses.
For an average salaried person, this can be a huge financial burden. There are several families who are living hand to mouth just to keep up with their daily needs. They have no extra money to put toward the expenses of selling their homes. We buy houses Pasco County services help these sellers because there’s no need to worry about paying for any agent commissions and other closing costs or even repairs at all.
No Appraisal Contingency
An appraisal contingency is the only way a bank will approve a loan and it is simply out of the question for cash buyers. On the other hand, a traditional buyer has to worry about getting financing. If their loan application is denied, they do not have any other options to fall back on, resulting in a failure to purchase. A deal without any appraisal contingency is far more attractive; it’s a win-win situation for both parties. In cash offers, sellers can be assured the sale will go through without any problems that stop it from happening.
Prices Are Usually Fixed
Cash offers tend to be more specific and do not allow for negotiation. The price is set in stone and the buyer does not want to change it, which can be great for sellers who are trying to get a specific amount for their properties. Cash buyers do have an advantage in that they can be more precise when it comes to the price they are willing to pay. The seller knows what the deal is and won’t have to worry about costly delays or any other woes that might get thrown at them during a negotiation process. A traditional home sale allows a seller to be flexible in the pricing and they can negotiate with buyers to reach a price everyone is happy with.
In cash buying it’s obvious that the buyer is willing to pay a price lower than the market value, typically it’s 20% lower. The standard for all cash buyers varies from 10% to 30%. But there is a possibility that some buyers may lowball even more. After all, that’s their ultimate goal to get the property for a rock bottom price. In this situation, it’s up to the seller whether to go with it or not. Of course, as long as the asking price is fair and reasonable, there is no reason for a seller to accept a lowball offer. We never put our clients in a frustrating position; rather, we provide a fair price and make sure that you are happy with it. We buy houses Holiday FL to let you carry on with your life and get the cash that you need.
Justin Setzer is a highly motivated entrepreneur with a passion for real estate investing. He is the founder and CEO of Home Options, a company that specializes in buying homes for cash. Home Options helps homeowners who are in difficult situations, such as facing foreclosure, needing to relocate quickly, or inheriting unwanted property.
Justin has several years of experience in the real estate industry and has helped many homeowners sell their homes quickly and easily. He is dedicated to providing exceptional customer service and creating win-win solutions for all parties involved.