Should I Accept A Cash Offer for My Home?
If you are trying to sell your home in Riverside quickly, a cash offer can be very appealing. You can avoid the staging process, agent commission fees, and repair costs if you are approached by an off-market buyer. Cash offers don’t need mortgage lender approval either, which makes them an incredibly popular option.
Cash offers, according to the National Association of Realtors, account for more than 16% of home purchases.
Before you accept a cash offer on your home, consider these few questions.
Do You Need to Move NOW?
Marketing and selling a home in Anaheim can be incredibly stressful and time-consuming. Some home sellers simply don’t have the time to take off from their daily lives to sell their home. Plus, you’ll have to put in for a home inspection if the buyer is applying for a mortgage.
After you receive an offer from a prospective buyer, it traditionally takes around 45 days for that sale to close.
In the case that the financing of the buyer falls though, you will have to start the process all over again.
The beauty of a cash purchase is that you can finish the process in as little as a week. Let’s say you recently accepted a new job out of state and you need to relocate quickly. In that case, looking for a cash offer could be your saving grace.
Do You Need Cash NOW?
You might need to sell your home in Santa Ana quickly because you need the money right now. If you don’t have a savings account with tons of cash sitting in it, it might be impossible for you to get your home ready to sell. When selling a home traditionally, there are a few costs you will incur:
- 5-6% for real estate agent commission fees
- Crucial home repairs, which may cost you thousands of dollars
- Closing costs that often cost anywhere from 1-3% of the total sale price
- Home staging, which costs $400 on average, though can easily cost thousands for large homes
You can avoid having to deal with these fees if you decide to sell your home off-market.
Should I Go With a Cash Offer?
If you answered “yes” to any of the questions above, you may want to consider getting a cash offer on your home. Of course, it is important to work with a reputable buyer so that you get a fair price on your home. NEVER accept less money than you are comfortable with, regardless of how desperate you are to get the process done quickly.
The last thing you want is to find out you could have gotten more cash from a different cash buyer.
Make sure to get in touch with one of our experts here at National Cash Offer so that we can walk you through our process and give you the best offer on your home.