IS CASH REALLY KING?

HERE ARE SOME ARGUMENTS FOR, AND AGAINST, CASH OFFERS TO HELP YOU DECIDE.

It's a fact that selling a home is expensive. There are real estate agents and their fees to contend with, not to mention the cost of making repairs or upgrades if necessary. The logistics of a home sale can be stressful on their own- and often, the reason for selling the home is just as distressing! In this market, once an owner has decided to sell, they get a flood of offers and choosing can be difficult.

It's no wonder why getting an offer from a "house flipper" paying in cash is so attractive to sellers. But, before accepting a cash offer, it's important to weigh the pros and cons. Counter to what many people believe, the difference between a cash offer and traditional sale isn't just a difference in sale prices.

In today's market, potential buyers are lining up around the block, and it's not uncommon to get multiple offers on a home in one day. This means that if another buyer offers you the same price as an investor, it's possible that both parties will make their best offer at the same time. Then, you'll have to choose who to go with.

So, if you find yourself wondering whether selling your house for cash is a good idea, we're here to help! We've put together some of the most common advantages of cash offers on a house, plus a few reasons selling to a buyer with a financed option is worth considering. Hopefully, this will help you have a more informed opinion on the pros and cons of a cash offer on a house.

WHAT ARE THE ADVANTAGES OF SELLING TO A "CASH-FOR-HOMES" INVESTOR?

There are several advantages to selling to a cash-for-homes buyer. One of the most significant is that it's simple and easy on you, the seller.

You won't have to wait for a bank loan, which can take up to 60 days or more. Another advantage is that there are no closing costs involved in the sale and no repairs necessary, since your house will be sold as-is. This makes it easy for sellers who want to get out of the process. For many, not having to worry about making any improvements or showing the home while they wait out the lengthy traditional mortgage loan approval process is a huge benefit.

Using this alternative method involves freedom from having to spend money on cleaning or staging. Many buyers who purchase homes through traditional mortgage loans like seeing these types of improvements because it gives them hope that their investment will pay off down the line!

NO WAITING FOR A BANK LOAN.

If you're looking to sell your house quickly, cash buyers are the way to go. Banks can take a long time to approve a loan, which means that even if they do decide to give it to you, there's no guarantee that the process will be quick enough for any other interested buyers. The underwriting process alone can take weeks longer than a cash sale.

You have to arrange a home appraisal, wait for the buyer to sort everything out with their mortgage lender, and checking off all of the requests a buyer can make before buying the house.

Even when their approval is final and their check has cleared at closing, things can go wrong. There's always a chance that your deal will fall through at the last minute due to some unforeseen complication. Cash buyers don't have these problems: they just need proof of funds in order to close on your home within days or weeks instead of months or years!

NO COSTS TO THE SELLER

For starters, selling your house to a cashbuyer investor means you won't have to pay any of these costs: no commission, no repairs, and not to mention avoiding lengthy negotiations. Either way, it's worth considering every option.

When you sell your home, there are lots of fees involved, such as:

Real estate agent fees
Closing costs
Marketing and advertising costs

If you sell your house for cash, none of these fees will apply to you. That means no real estate agent commissions, no closing costs and no marketing/advertising expenses.

INVESTORS CAN DEAL WITH A HOUSE IN ANY CONDITION, SO THE SELLER DOESN'T NEED TO BOTHER WITH MAKING REPAIRS, DOING YARDWORK OR SHOWING THE PROPERTY.

One question we continually get from homeowners is, "Why is a cash offer better than selling to a retail buyer with traditional financing?" If you've ever gone through the traditional process of selling a home, you know all too well the pros and cons of a cash offer on your home.

Dealing with the rush of potential buyers, staging your home for an open house are a few of the inconveniences. All the while you're still making mortgage payments- so a faster closing means potentially saving you thousands. With a cash offer, you don't need to deal with the hassle of making repairs or sprucing up your house. The investor is buying your property as-is, so he'll be willing to pay top dollar for it.

Even if you've tried to keep your home looking great, there's no guarantee that someone else will think it's attractive enough to buy (after all, everyone has different tastes). And even if they do fall in love with the place, they may have reservations about some aspect of the property—for example, maybe the kitchen is outdated or doesn't have enough storage space.

But when an cash offer investor buys a home for cash with no contingencies attached, there are no strings attached—he can buy it regardless of any issues that might bother other buyers (or make them hesitate).

QUICK CLOSINGS ARE POSSIBLE.

One of the benefits of dealing with a cash buyer is that quick closings are possible. In fact, many investors will offer to close a deal in just a few days if you're willing to accept a lower price than what he'd normally pay for your house. When you want to sell your house fast, a cash offer will almost always be faster than selling through traditional means.

That said, it's important to note that "quick closing" isn't always synonymous with "no closing." In other words, if you have a mortgage on your house and need time to pay it off before selling it, this may not be an option.

In some situations, even if you have cash on hand or can arrange financing quickly enough for an immediate sale, you might still have to wait a while before everyone gets their paperwork in order. Coordinating schedules to decide when and where the money will change hands can be tricky

DEALING WITH BANKS ON SHORT SALES AND FORECLOSURES IS EASIER FOR INVESTORS THAN FOR RETAIL BUYERS.

Banks are more willing to work with investors than they are with retail buyers.

There are several reasons for this, but the most obvious is that investors have built relationships with banks, so their deals tend to close faster than those of retail buyers. Investors also generally have more cash on hand and can close quickly without needing a loan. Additionally, because investors know that they'll make money off of a property if they manage it right (by renting it out), they're more likely to be able to close the deal in as-is condition.

INVESTORS HAVE CASH AND NO CONTINGENCIES IN THEIR OFFERS. THEY DON'T CARE ABOUT HOME INSPECTIONS OR APPRAISALS, AND THEY OFTEN MATCH OTHER OFFERS AS WELL.

When you're selling your home, having a contract from an investor is a major advantage. Investors have cash and no contingencies in their offers. They don't care about home inspections or appraisals, and they often match other offers as well.

The company making the offer is normally staffed with experienced professionals. They often have decades of experience, and understand the ins and out of the process, meaning they understand how to make real estate transactions as painless and efficient as possible for all parties.

THERE IS A LOT OF FLEXIBILITY IN SELLING TO AN INVESTOR, BUT THERE ARE ALSO SOME DRAWBACKS

There is a lot of flexibility in selling to an investor, but not all cash offers are the same. A cash offer on a house is great, but it's not always safe to assume the offer is better for the seller.

You don't have any control over the price you get. If the buyer can't get financing or wants more time to pay, you're probably going to have to accept less than market value for your home.

You might not get the best price by comparing offers. Most buyers are able to compare offers and negotiate with you on price. Some smaller investors generally aren't interested in making offers for more than one property per month because they don't need multiple offers to pick which one suits them best. This means that if another buyer approaches you with an offer that's higher than theirs but lower than yours, chances are good that investor won't want it—even though it would mean more money for you!
It may take longer for things like signing documents since investors often work from afar rather than being on-site at your house in person during these procedures (so make sure everything gets done before their deadline). To avoid this, it's often a good idea to find a company that you can meet in person, or works locally so you can avoid some of these issues.
Cash buyers may not be qualified and/or reputable enough to meet your needs. Sometimes when selling with a real estate agent (REA) vs. without one has its own set of pros and cons. However, REAs can potentially benefit both parties in certain situations. Examples of these benefits include: expertise in negotiating contracts/terms; knowledge of local market conditions; established relationships within their industry that could provide potential clients with valuable insight when making purchasing decisions; advice on how much work needs to be done before and more.
It's important, when considering the benefits of a cash offer on a house from a buyer to do your research- not just the pros and cons of the all-cash offer either. Also make sure you research the buyer and their background and ensure they're a reputable company.

WHERE TO FIND REAL CASHBUYERS

If you're interested in selling your house to a cash buyer, you may be wondering where to find these people, and what companies are reputable. Fortunately, there a few ways to try and find out. First, search for "cash buyers" or similar terms on Google and Craigslist. When contacting potential companies, consider the following:

Check their website for specific information about the company itself and its location. If there's no information about either of those things, that's a red flag.
Look for a local business or individual who has experience in your area—this will ensure that they understand local regulations and requirements such as permits or inspections.
Read reviews from past customers. Do they have any complaints? Are they happy with how the process went? Whatever their answer is can tell you whether this is likely to work for you too!

If you want to sell your house fast, you'll need to know what you're getting into. It's important not just in the moment but over the long term as well—you may find that cash offers are right for some people but not for others. And when it comes to selling a home, there will always be pros and cons for your different options.

Understand the advantages and disadvantages before making a decision about your property. People often ask, "Why are cash offers on houses better?" Even though we think they're great fits for a long list of situations, we truly believe that each homeowner's needs and priorities are unique. Don't worry about what other people's goals are; instead, focus on what works best for YOU!

If you're interested in getting help determining whether the cash offer for a house benefits outweigh the disadvantages, contact us! We're happy to help guide you in the right direction, and proudly serve the Indianapolis, Louisville, Lexington, and Cincinnati metropolitan and surrounding areas. Let us show you why an all cash offer on a house could be a perfect fit for you!

WEIGHING THE PROS AND CONS OF SELLING FOR A CASH OFFER ON YOUR HOME.