Time is not your friend when you need money urgently, and the only way to raise that cash is by putting your house on the market. On average, it takes up to 45 days to close on a home in the United States, where five million houses go on the market each year. You certainly don’t want to go down this road when you’re time-bound.
There’s no time to spruce up the house, list it, look for a realtor, and hold an open day or any of the steps necessary for a regular sale. You want the house taken off your hands as soon as possible. In such instances, only a buyer willing to pay cash for homes in Arizona can suffice in such a situation.
Speed up the sale
Given that a cash sale cuts through the chase, you achieve faster sales time. The process entails getting in touch with a company that pays cash for homes, and the deal is on. At this point, you move away from if you can sell the house to when you can sell it.
On average, cash sales take between one and three weeks, depending on specific factors. That’s a considerable improvement in turnaround time compared to the seven weeks waiting period when using the regular sales channels.
A cash sale is reasonably quicker because there’s no waiting around for the bank to approve or deny a mortgage. The deal boils down to the buyer touring the property and making you an offer. Sometimes, buyers can make an offer on the spot or get back to you within 24 hours.
Keeps all the money
Unlike conventional sales, you don’t need to hire a realtor to hold your hand when selling your home for cash. At this point, you’re dealing directly with the buyer or the buying company and bypassing the real estate agent. Cutting out the realtor comes with a considerable saving.
On average, real estate agents charge up to 6% of the selling price as the real estate commission. That amounts to tens of thousands of dollars out of your pocket. For a house worth a quarter of a million, the agent pockets a hefty $15,000 in fees. This is not the case if you sell the house for cash, as you get to keep all the sales proceeds. You also get to avoid other additional costs that come with selling the house such as closing costs.
Sell as is
Cash buyers aren’t looking to buy a house in perfect condition; they are okay with a home that’s in disrepair. In most cases, their business model revolves around buying houses that need a little touch-up. They carry out the necessary repairs before putting the house on the market again.
You’re not required to incur additional costs repairing the house when selling it for cash. The buyers only need to inspect the house and make you an offer in its current state. They will not disqualify you from the sale because the house has structural or cosmetic damage.
Don’t hesitate to sell your house for cash if you’re in urgent need of money. Cash buyers aren’t too fussy about the house they acquire as long as it’s in relatively good shape. You can conclude the deal in about the half time it takes to list a home.
Selling your house for cash might sound like a scary idea at first. However, you need to approach the process carefully to reap the massive benefits that come with the prices.
