4 Big Benefits of Selling Your House to a Cash House Buyer
Selling real estate with an agent could make sense in most scenarios. If you’re selling a property that needs repairs, are going through probate or foreclosure, inherited a property, or just need to sell fast, selling your home for cash to a real estate investor can be an ideal way to go.
There can be a lot of wild cards in the traditional selling process, but selling to an investor can help you save lots of time and money. Here are 4 big benefits of selling your house to a real estate investor you might not have considered.
- Bypass a Bunch of Fees
There are obvious fees that you avoid when you choose not to list with a real estate agent such as real estate commissions (about 5-6%), escrow fees, title fees, and repairs. There are also less obvious ones such as seller concessions, in which the buyer asks the seller to contribute towards their closing costs or mortgage application fees, or to provide down payment assistance. This can be very expensive.
You can also be thrown other curve balls such as a low appraisal, which can end up costing you up to 5%. A real estate investor buys your house for cash as-is, so there’s no banks involved and no red tape.
- Save Time, Which is Money
Selling your house through a real estate agent can take anywhere from three months to up to a year, depending on the location of your property and the market conditions. Conventional financing, seller concessions and repair requestions, as well as escrow can often waylay the closing process.
When things get delayed costs pile up such as months of mortgage payments, insurance, HOA fees, property taxes, and utilities. If you have fees from the city for code violations those too can amass. So can things like late tax fees and late mortgage fees. When you sell your home to a real estate investor you can typically close in 7 – 30 days.
- Avoid Costly Repairs
When selling a home through a real estate agent you often deal with nit-picky buyers who ask for repairs. There’s also the possibility of falling out of escrow due to lenders wanting the property in good shape.
Things like replacing electrical or plumbing, mold remediation, repairing AC or HVAC units, foundation issues, or roof repair can be very expensive. With a real estate investor, you can sell your house as-is. They handle all of the repairs for you.
- Get a Flexible Timeline
Real estate cash buyers are typically flexible on the terms of an agreement. You often have more control over your closing and moving date. And many are willing to do things like lease your house back to you for a month until you find a place or work around your tenants.
So if you want to save money, avoid fiascos, and sell your home the fast and stress-free way, having a real estate investor buy your house for cash is often the preferred way to go.
Not certain it’s the right fit for you? Give us a call or fill out the form below and we’ll let you know if we can help or if you’d be better off going through a real estate agent. Our goal is to help you find the right solution and make things less stressful for you.