Buying a home is among the biggest lifetime investments, but it doesn’t mean you’ll stay in the house indefinitely. According to statistics, over five million homes are sold annually. With cash home sales becoming popular, at least 25% of the sales are on a cash basis. If you are thinking about selling your home, here are four reasons why more people choose to sell Phoenix house as-is for cash.
1. Better Flexibility
When selling a house to traditional buyers, your options are limited, but when dealing with cash buyers, you enjoy more flexibility. Unlike conventional buyers who want to move in and settle in the house, cash buyers are serious investors looking forward to returns on the investment. As a result, they are more likely to compromise on terms and make the deal work.
Regardless of the reasons for the sale, cash home buyers are flexible enough to work out a deal that suits your situation. On the other hand, traditional buyers are rigid regarding sale terms and personal circumstances.
2. You’re in Control of the Closing Date
Conventional sales channels give you little or no control of the closing date. The sale can span several months as the buyer prepares the funds and paperwork. This may not be a great option when you need to sell the house quickly.
While the buyer may make a reasonable offer, you may realize it’s impossible to close in two weeks or a month. However, cash home buyers can close the sale on your schedule and let you decide appropriate terms, including move-out dates.
3. No Expensive Repairs
While it’s often necessary, property repairs are among the frustrating aspects of selling a house through traditional means. Real estate agents can ask for detailed repairs before listing your property on the market.
It can also get complicated when you need to take care of large repairs such as roof replacement, foundation damage, and septic repairs. If you choose to ignore the request, most banks will be reluctant to offer buyer financing even when you’re willing to give a massive discount.
However, cash buyers won’t ask for repairs. Instead, they buy the home as-is and take care of the repairs after closing.
4. Avoid the Fees and Commission
Traditional methods of selling a home often involve hefty costs. The amount a buyer agrees to offer rarely represents the money you’ll receive. You have to account for commission, appraisals, and closing fees. The fees can quickly add up, especially when a buyer puts some contingencies and preconditions.
If you want to sell the house without incurring hefty fees and commission, a cash buyer can be a great option. You could end up with more money than when selling through regular channels.
There are situations where selling a house through traditional means makes more sense. However, some circumstances require a non-conventional approach. Depending on your circumstances, selling a house as-is for cash comes with several benefits.