Buying a home nowadays is so stressful about half of U.S. home buyers cry at least once because of it. Some felt so stressed about finding a home that met their budget. Others worried about not having enough options or having any at all.
But it’s not only the buying process that’s stressful. If you’re selling your home, you may also worry, especially about not finding any buyer.
In that case, you may want to accept a cash offer on your home.
Below we’ll discuss the benefits of selling your house for cash, so keep reading.
1. No Need for Expensive House Repairs
Experts advise homeowners to spend 1% of their home’s price for its yearly maintenance. In this case, a house that costs $250,000 would have an annual maintenance cost of at least $2,500.
However, you may have to spend more if your house gets damaged due to unforeseen events. A perfect example is a severe weather event, which can lead to indoor flooding. So you know, an inch of water can already leave behind $25,000 worth of property damage.
If you sell your house the traditional way, you’d have to fix all those damages first. Aside from costing you thousands of dollars, such repairs also take days, weeks, or even months.
By contrast, most professional cash buyers don’t care about the state of the houses they buy. Instead, they offer cash when buying homes in an as-is condition, whether old or damaged. So, if the only thing running through your mind is, “I want to sell my house fast,” consider accepting a cash offer.
2. Avoid Extra Fees or Commissions
Real estate agents make money through commissions, ranging from 5% to 6% of a home’s sales price. So if they sell your house for $250,000, you have to pay them $12,500 to $15,000. On top of that are other expenses like advertising, staging, and viewing.
All those can add up and result in huge deductions from your home’s selling price.
When selling a home to a professional cash buyer, you don’t have to worry about those extra costs. They don’t charge such fees, as they’re the actual buyers. So, you don’t have to pay them any fee or commission; they’re the ones who’ll pay you cash for your home.
3. Close In as Little as a Week
The traditional home selling process can take over a month to complete. For example, in August 2022, the median number of days U.S. houses for sale sat in the market was 42. That’s only the median, though, which means half of the other houses took longer than six weeks to sell.
On the other hand, selling a home to a real estate market investor can take as little as seven days. One reason is that these cash buyers already have the funds to purchase your house in cash. Therefore, they’re ready to buy and can close right away.
Consider Accepting a Cash Offer Today
And there you have it, the top benefits of accepting a cash offer on your house. Now you know it’s less costly, as you can sell your property as-is and not pay extras like agent fees. You also learned it’s way faster to complete than selling the traditional way.
All that should be enough reason to consider working with a professional cash buyer.
Would you like to read other real estate guides like this? Check out more of our blog, then!