Posted on: 1 June 2023
Some people decide to sell their homes to upgrade to bigger or smaller homes. However, they're not in a hurry to sell. However, others need to sell immediately. People in this position often contact cash home buyers, as these companies provide guaranteed cash offers for all homes. They'll even buy ugly, outdated, and problematic houses. But what can you expect when selling your home this way? Keep reading to find out more about this.
A lower price
Anyone who sells a house to a cash buyer will receive a lower offer for the home. Selling through a real estate agent requires time, as you must list your home and wait for buyers. Selling for a guaranteed offer eliminates this step. You go straight to the buyer instead of waiting for a buyer to come to you. As a result, you receive a lower offer. Cash buyers only pay a percentage of a home's value. Of course, the percentage varies, but you will not receive an offer for the home's full value. You should expect this from the start.
No requests or conditions
The second thing to expect is no requests or contingencies. When a traditional buyer makes an offer to buy your home, they might offer an amount that is close to the asking price. However, they might request things with this offer. This is a common occurrence when selling through an agency. When selling to a cash buyer, it's common for the buyer to ask for nothing. Instead of asking for things, they'll reduce the price to handle the issues themselves. For example, they might reduce the price by $25,000 if the home needs a new kitchen.
The third thing to expect is a faster closing than if you sold your home to a traditional buyer. The standard closing process can take one to two months, as a lender is involved with the deal. Cash buyers do not use lenders. They pay cash for the properties, so you eliminate all the normal steps required when a buyer uses a mortgage lender. Therefore, you can close in a week or two.
Get a guaranteed offer
Are you interested in a guaranteed cash offer? You can ask for one without obligating yourself to sell your house.
For more information about how to sell your home for cash, contact a company in your area like We Buy Houses MN LLC.Share