A National Association of Realtors (NAR) analysis showed that home owners stay fewer years in homes located in metro areas with more new resident concentration. The median duration of home ownership in 2018 in the U.S. was 13 years. On average, American householders move every five to seven years.
There are many factors that may prompt you to sell your house or investment property. It could be that you are relocating for work or you want to move to a better neighborhood. Whatever your reason is, selling your house fast can be a nightmare. Whether it’s your first time selling a home or your tenth time, the real estate world can be confusing. There can be lots of setbacks when selling your house the agent way. A lot of paper work is required and finding an agent you trust can be a long shot.
Accepting an all-cash offer on your home is a great option. Keep reading to learn more about the benefits of all-cash offers on homes.
Saves You Time and Money
On average, most homes remain on the market for 65 to 93 days, from listing to closing. This may not be ideal for you as a home owner if you want to sell your house fast. Selling your house the traditional way is time consuming because it involves prepping, staging, showings, and paper work. Accepting an all cash offer on your home will save time.
The average real estate fee consumes up to six percent of the total home sale price. All cash offers on homes do not come with this fee. Accepting cash for homes will save you money and allow you to sell your house as-is.
No Need for Repairs
Conventional house buyers will require your house to be in good shape for it to be marketable. As a home owner, this is not feasible. You would rather spend the money on your next home. Choosing to sell your house as-is, will save you the money spent on all the repairs.
Companies that buy houses on all-cash offers on homes will do all the repairs on your house, translating to a faster closing at a lower cost.
Presents You with Liquid Cash
Life sometimes throws tough situations our way. You could be in need of some liquid cash to settle an unforeseen problem.
Selling your house for cash will be ideal in such circumstances. All cash offers on homes will provide you the much-needed cash, in a short time. You will not need to do lots of paper work.
Assured Sale
Last minute withdrawal from potential house buyers can be frustrating. Potential traditional house buyers often withdraw the last minute, and this could happen because the buyer did not get the loan they had been waiting for all along. Last minute withdrawal could also happen if a buyer changes their mind. A potential buyer could also choose to purchase another property.
All-cash offers on homes reduce the risk of last minute withdrawal.
No Foreclosure Risk
A bank can threaten to repossess your home in case you fail to pay your loan, and this is a situation every home owner dreads. The share of housing units with a foreclosure filing in 2019 was 0.36 percent.
Accepting an all cash offer will be of great advantage because you will have quick cash that you can use to prevent foreclosure and losses.
Less Stress
Most home owners who have sold their houses know the hassle that comes with doing it the traditional way. From the tedious paper work, to repair costs. Selling a house the traditional way will leave you stressed, not forgetting that you can go through all the processes and still not be assured of a successful sale.
Choosing all-cash offers on homes will save you all this trouble and you are almost 100% assured of a successful sale.
Final Word
Selling a home fast is not a walk in the park. However, choosing an all cash offer for your house will come in handy. If you are looking for a reputable company to sell home fast in Lorain county, contact us today.