If you’ve ever tried selling a house before, you know that not all buyers are equal. Some offer a lot more value than others. Even among the buyers that offer high value, the value they offer isn’t always the same. Cash buyers in particular offer special value that sets them apart from traditional buyers.
To start, cash buyers have fewer contingencies than traditional buyers usually do. Common contingencies include an appraisal, home inspection, title, and mortgage contingencies. Some cash buyers may or may not have an appraisal, home inspection, or title contingencies. No cash buyer will have a mortgage contingency though. They already have the money to buy your home, so they don’t need a lender’s money or approval. That’s one less thing that could cause the sale to fall through. Considering how stressful selling your home can be, having one less thing to worry about can be valuable.
Get Rid of Hard-to-Sell Property
Some homes are easier to sell than others. Homes that are located in less desirable areas or are damaged can be tough to sell to traditional buyers. Cash buyers may be more interested in these homes though. These homes may be viewed as investments, rather than burdens. While you should still expect the offer to reflect the home’s value, choosing to sell to a cash buyer could increase your chances of getting it sold quickly. Between making it easier to sell the house and getting it done faster, it’s clear that cash buyers offer special value to these homeowners.
The closing portion of the sale is often a lengthy process, especially when a traditional buyer is involved. Traditional buyers take anywhere from 30-60 days to close a sale. It can take even longer if there are any setbacks. This is another area where cash buyers stand out. On average, cash buyers close in about 2 weeks. Professional home buyers like WNY Home Buyers can cut that in half, closing in as little as 7 days. If you buy into the “time is money” adage, the rapid closing speed is another way cash buyers offer clear value to sellers.
Every seller has different things they need from selling their home (aside from the money, of course). Some need to sell quickly. Some need a low-stress, hassle-free sale. Some need to save as much money as possible. Choose a buyer that offers the value you need from selling your home to have the best home-selling experience possible.
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