Benefits of Selling Your Home for Cash

The home buyers of today are savvier than ever before. When they know what they want, they will do whatever it takes to boost the appeal of their offer. They might remove contingencies, offer high, or even throw in a cash offer. Sometimes, selling your home to a cash buyer is even better than taking a higher offer that is lender funded. This is because the deal is much more secure. You don’t have to worry about funding falling through. Here are some additional benefits of selling your home for cash:

Conventional home sales are notoriously long. One reason for this is your buyer’s lender. There are a lot of hoops to jump and red tape to cross before a home loan can go through, and all of that takes time. In fact, around six weeks on average. When you don’t have that kind of time you can quicken the process by selling your home for cash. Don’t have a cash offer at hand? Look no further than a local home buying company. 

Many cash buyers are willing to waive some of the inspections that mortgage lenders require. Most notably, you probably won’t have to deal with an appraisal. Appraisers tend to be extremely busy and the process could be halted while you wait for an open appointment. On the other hand, your cash buyer won’t need an appraisal. This is good news because if the appraisal comes back low you could lose your contract. If you would love nothing more than to cut all of the typical inspections then you should reach out to a home buying company.

Lender-funded contracts tend to be more finicky than cash deals. This is because the house is the collateral on the loan for the loan provider. They want to protect their investment. Loans can fall through if the home isn’t in tip-top shape. Because cash buyers aren’t working with a lender, they might be more willing to negotiate on repairs and the condition of the home. Home buying companies, in particular, are known best for their willingness to purchase homes in any condition.

You might be tempted to go with the highest offer on your home sale. However, it is important to understand that there are more important criteria to consider besides simply the offer price. Be sure to look at the reliability of the prospective buyers. Few offers are more certain than cash offers.

Looking to sell your home for fast cash in the Birmingham area? BuyBHM is here to help! Simply click here to learn more!