ddThere are plenty of benefits to selling your home for cash, from a fast turnaround, to skipping the whole staging thing, to not having to spring for or make repairs. However, while fast and easy sounds great in theory, there is a downside — you can get less for your house than what you’d like.
Unlike a traditional sale where competition can drive the price up, as can staging and upgrades, cash offers don’t often have bidding wars going on and will take into account the work that needs to be done on the home.
If you’re deciding whether a traditional home sale or a cash sale is right for you, this is obviously something you need to consider. You need to weigh what’s most important: a higher offer or a faster process. Of course, in some situations, you don’t have a choice. If you are planning to sell your home for cash, there are at least a few things you can do to maximize the money you get.
How to Sell Your House for Cash and Get a Fair Price
Do some digging to determine the value of your home. In a traditional sale, a real estate agent performs a comparable cost comparison to determine how much your home is worth and how much you should ask for it. When you sell your home for cash, real estate agents are not in the picture. Therefore, if you want to get as much for your house as possible, it’s important to do your own bit of research to get at least a ballpark value of your home. That way, you know if the cash offer you’re given is fair, though you should expect it to be on the low end of the price range.
You can get an idea of your home’s value by searching online and asking neighbors about their home assessments.
Consider the Pros and Cons of Selling “As Is”
Whether you are trying to avoid foreclosure, needing to relocate, or whatever other reason you have for wanting to sidestep a long and dragged-out selling process, one of the great things about selling your house for cash is the ability to sell it as is. That means no repairs, no staging, no hassles and no expenses, which definitely saves you time and money. However, selling as is can mean a lower offer, as the estimated cost of repairs will be deducted from the price.
If you want to get more for your home, and you’re able to take the time, spend a little money, and put in some elbow grease, making at least some repairs and improvements before selling can help you get a better price.
Work with a Reputable Real Estate Investor
Sellers beware: not all cash buyers are alike! There are plenty of shady companies out there, scam artists, and individual buyers looking to profit off of others’ misfortunes. It’s important to do some research on a buyer before accepting their offer to make sure the cash exchange is a win-win for both of you. A reputable real estate investor will want what’s best for everyone involved.
If you’re considering a cash sale, reach out to the team at Renewed Homes. We’ll walk through your home with you and offer not only a fast and easy process, but also a fair price based on your home’s market value. We work with homeowners to find the solution that works best, so everyone feels confident about the sale. Interested in selling your home for cash? Let us help you today!
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