The regular procedure for selling a house is quite complicated. You may need to make minor renovations, hire agents, get an inspection, negotiate with potential buyers, and complete the sale.
Not only are these processes lengthy, but they’re also unnecessarily complicated. You don’t have to follow these steps to sell your house, especially if you need to speed up the process.
In this concise guide, you’ll learn about some of the best companies that buy houses for cash in the United States. You’ll also learn some of the advantages of selling your house for cash and the steps required to do that.
How Selling A House For Cash Works
Selling a house for cash is increasingly growing popular, as it has a couple of benefits that make it an attractive option to both buyers and sellers alike.
Most times, houses that sell for cash are purchased by a company that specializes in buying houses for cash. These companies don’t usually care about the look of the house, unlike retail buyers. This means you don’t have to worry about renovations or perfecting the house’s curb appeal.
However, this process isn’t without its disadvantages as well. Companies that pay cash for homes generally pay lower, as they’re willing to buy houses that wouldn’t even sell if you were following due process!
Benefits Of Selling Your House For Cash
Depending on what you’re selling and the circumstances surrounding the sale, selling a house for cash may be far more beneficial than selling by other means. Here are some of the benefits that come with taking cash for your house.
The average time it takes to sell a house to a buyer using a mortgage is 51 days. That’s a good timeline if you don’t need money urgently, but if you need the money for something that can’t wait, 51 days will look too lengthy.
The speed of selling a house to a cash buyer depends on many factors. On average, a cash sale for a house usually takes a week or two at most. If speed matters in your home sale, you should consider finding and selling to a company that buys houses for cash around you.
No Maintenance Costs
Before selling your house, you must ensure that you’ve renovated it and perfected its curb appeal before putting it out for sale; unless you’re selling to companies that buy houses for cash.
Most companies that buy homes for cash will simply inspect the house and propose a price. They don’t usually care if the house looks perfect, ugly, or outdated, as they usually renovate the houses before reselling the house.
If you need to sell your house, but you can’t afford those hefty upgrades and renovations before the sale, you can sell to a cash buyer, albeit at a lower price.
Disadvantages Of Selling Houses For Cash
Selling a house for cash doesn’t come without its downsides. Here are some reasons why you may want to rethink your decision of selling to a cash buyer.
They Pay Lesser Than Retail Buyers
This may, and may not be a disadvantage, depending on who you’re selling to. Most companies that buy houses for cash will offer to buy your house for less than the regular retail buyer will, but they’re also willing to buy houses in poor conditions.
Since you don’t have to upgrade or renovate your house to sell to a cash buyer, the proceeds from selling to a cash buyer will be somewhat comparable to the proceeds from selling through other mediums.
Where To Find Cash Buyers For Houses
If you’re planning to sell your house for cash, the market is not short of buyers. Many buyers will buy your house and pay instantly in cash if you know where to find them.
This section will show you how to find them. Here are some categories of buyers that will be willing to buy your house for cash.
House flippers have been around for quite some time, and they’ve also made it into the cash for home space. They basically buy houses, pay in cash, renovate the house, and then try to sell it for a higher price than the expenses combined.
With this description, home flippers sound like the perfect target for houses selling for cash, and yes, many home flippers are willing to buy houses for cash.
If you’re not willing to sell to an individual, some companies pay cash for houses too. These companies will guide you through the whole process of selling your house, inspect the house, and make you an offer.
Before selling to a company, however, it’s important to check what others are saying about them. Many companies make ridiculously low offers, and some are straight-up scams.
Best Companies That Buy Houses For Cash
When selling your house to a company that pays cash, you should check the reputation of the company, otherwise, the sale will be akin to a very expensive gamble.
To avoid future regrets over the choice of company you made while selling your house for cash, you should choose a reputable company like PropertyEscape.
PropertyEscape works best for homeowners trying to sell a house based in California. You only have to fill an online form, and the company will tour your house before making a fair offer. If you accept the offer, you can choose a closing date to accept the offer and get your cash.
If your house is based out of California, you may go for more ubiquitous companies like We Buy Houses, although these companies will likely pay a lot less than PropertyEscape.
Selling a house for cash only became popular recently, and is fast becoming a preferred way to purchase houses in the real estate market. This growing popularity can be attributed to the speed and certainty associated with houses sold for cash.
If you’re looking for an individual or company to buy your house for cash, this is the perfect guide for you. Here, we outlined some of the best companies that will buy your house for cash, so choose one that suits you most.