If you’re thinking about selling your home but you’re not sure what it’ll take to make it worth your while, consider selling to a cash buyer. Selling your house for cash is different from selling to traditional buyers because cash buyers don’t have to qualify for a mortgage. They can pay cash for properties with little or no prerequisites.
A cash buyer can close on a house, offer cash at closing, and oftentimes get creative in the financing if they choose to do so. If a house is available in cash, it can save the seller all of the paperwork, the waiting, the closing costs, and the hassle, which can make a cash offer a smart one.
What is a Cash Home Buyer?
A cash buyer is an individual or business entity that is willing to purchase your home without requiring a mortgage loan from a bank or other lender.
Typically, if you decide to sell your house on your own, you’ll have to sign a contract with a real estate agent and then put your house on the market. The agent will then list your house for sale and try to sell it for the asking price.
If a buyer comes along, the agent will help you negotiate a price with the buyer, who will then submit an offer to buy your house. If the offer is accepted, the buyer will provide you with a contract and you will then be responsible for all the legalities that come along with preparing the home for closing.
What Do Cash Buyers Charge?
If you’re thinking of selling your house for cash on your own, you might wonder what expenses you should expect from the cash buyer’s services. Since cash buyers don’t need to go through the same process as a traditional buyer, you can save more money in the long run as there are fewer fees, commissions, appraisals, and inspections to think about.
Here are the things you no longer need to make room for in your real estate budget:
1. Realtor Commission Fees
Realtors usually receive six to eight percent from the seller in most transactions. With a cash buyer, the seller doesn’t need to pay any of this.
2. Home Selling Preparations (Repairs, Cleaners, and More)
Cash buyers are not required to make the same preparations as a traditional buyers, so there’s no need to spend extra money on repairs, cleaners, and other preparations. Not only do cash buyers allow sellers to save money, they also save them time.
3. Title Fees
This is the process where your home’s title is legally transferred from you to the buyer once the home has been sold. On that note, cash buyers typically cover the costs for these.
4. Attorney Fees
Cash buyers typically cover the legal costs involved in selling a home to them.
5. Appraisals and Inspections
Cash buyers are not required to have the home appraised, so you can be sure you won’t have to pay for this. This is also true if the cash buyer opts to have the home inspected.
The Bottom Line: The Benefits of Selling Your House For Cash
While a cash buyer can be a great choice for your real estate needs, not all cash buyers are created equal. The right cash buyer can be someone who is willing to pay the exact amount you need to make the sale happen.
To find out if this might be a good option for you, we encourage you to talk to a trusted agent that can help you learn more about the benefits of selling your house for cash to one of our buyers.
Are You Looking for Greenlight Real Estate in Texas?
If you need legitimate cash home buyers in Texas who can offer the most appealing deal for your home, check out Greenlight Offer! Get in touch with us and learn more about selling your house for cash with us.