“Most homeowners want to sell their homes fast.” Most homeowners don’t want to spend time or effort preparing for a house sell, which includes making all the repairs, making the needed upgrades, or staging and cleaning the house to show to potential buyers.
Then again, you might be worried the house sale will take too long, you won’t be able to find a quality real estate agent, or the costs will be too high if you try to sell your home the traditional way.
This is why most homeowners want to sell their homes fast! Now for some good news, there is a better way to sell your home! Cash offers can help homeowner’s sell their home quickly, along with many benefits over a hot market, such as reduced sale time, lower costs and little stress. Read on and you will see why a cash offer could be the best choice for you and the advantages of selling your home for cash.
What Is a Cash Offer on a House?
A cash offer on your home means the buyer offers you the amount of money you’ve listed your home for in cash rather than using financing methods. Most homeowners want to sell their homes fast! Having a buyer with the money to buy your home outright allows you to avoid time-consuming and expensive steps that can leave your home on the market longer than you want.
From the owner’s perspective, where the buyer’s money comes from is inconsequential, whether from a financed loan or their bank account. The result is still the same. At We Buy Houses Cash Dallas, we have the ability to avoid the numerous contingencies that can pose risks to the buyer and seller, which is why many people contact us for the quick, simple cash sales.
With a Cash offer, it helps remove many hurdles that conventional home sales place between the buyers, seller and their shared goals. You don’t have to wait for the buyer to approve their mortgage loan, and you don’t need an appraisal. Cash offers are growing more popular as a result.
How Common Are Cash Offers?
Many believe cash offers on homes aren’t very popular, at We Buy Houses Cash Dallas, we beleive this couldn’t be further from the truth. In reality, cash home sales occur in 22% to 24% of the market for condo and single-family home sales.
Cash offers are more prevalent in certain parts of the United States, including Texas, North Carolina, Georgia and Florida. These states see as high as 35.5% for cash sales overall. In Dallas, most homeowners want to sell their homes fast! Some scenarios make these cash sales more common, including:
- A buyer has just sold their home and needs a place to live immediately.
- Real estate investors want to invest in the property.
- The seller has contacted an iBuyer.
- A buyer wants a competitive edge in the market.
- A property needs expensive repairs or renovations.
- Someone wants to sell their home for a fix and flip.
Cash offers can occur at any time during any point in a transaction. Remember that cash offers can fluctuate due to various factors, such as changing prices and marketing conditions. For example, a more expensive home may be more likely to have cash offers, while homes under a specific price point may be better suited to mortgage loans.
What Kind of Homes Are More Likely to Be “Cash Only”?
While everyone’s buying criteria is unique, some situations just make sense for a cash-only sale. Still, most homeowners want to sell their homes fast! At We Buy Houses Cash Dallas, it doesn’t matter what the situation or condition of the house is Some of the most common situations that might be best for cash sales include:
- Homes facing foreclosure: There are tough decisions a person has to make during a foreclosure, whether it’s confronting eviction, bankruptcy or short sales that can impact their credit. A cash offer is a way out that helps people avoid ruining their credit and dealing with an eviction.
- Homeowners with life changes: Many people experience significant life changes, such as getting a new job, going through a divorce, getting married or having a death in the family, that require a quick move. A cash sale helps a person sell their home quickly without stress, allowing them to move sooner.
- Homes needing renovations or repairs: Repairs and renovations can be expensive, especially for structural damage or faulty plumbing and electrical. Many buyers financing through a mortgage won’t purchase a home that needs expensive repairs. Selling for cash allows you to get rid of a house that needs to be fixed up, so you can sell and close quickly with reduced stress.
Incentives for Buyers to Pay Cash
It’s not hard to see the benefits of accepting a cash offer on your home. It’s also not difficult to understand why a home seller might prefer a cash deal: We Buy Houses Cash Dallas, makes It’s quicker, easier, and with fewer obstacles to maneuver. Also, most homeowners want to sell their homes fast!
But why would a buyer prefer to pay cash for a house?
In most cases, a cash offer is a more substantial one, especially in a seller’s market where a limited number of homes are for sale and buyers are competing. We Buy Houses Cash Dallas, is willing to pay in cash have more of an advantage than those who want to go through the traditional route and obtain a mortgage through a bank.
Along with the advantage at the negotiating table, some lenders prefer cash buyers, too. For instance, a lender may hold foreclosed homes or real-estate-owned properties in their portfolio. Still today, most homeowners want to sell their homes fast! Often, the cash offer will win out in the case of multiple bids.
There are more home options for buyers who pay with cash versus those who want to take out a mortgage. As most homeowners want to sell their homes fast! Homebuyers who use U.S. Department of Agriculture or Federal Housing Administration (FHA) loans to buy a house are usually restricted to certain types of properties, including homes in certain places particular conditions. With We Buy Houses Cash Dallas, these restrictions don’t bind us as cash buyers.
Cash Sales Save Money
Another advantage of buying with cash? Saving money. Selling a home traditionally includes numerous costs, such as appraisal costs, processing fees, loan fees and credit checks. Taking a cash offer from We Buy Houses Cash Dallas, helps eliminate these costs, which can help sellers and buyers in numerous circumstances. Another reason why most homeowners want to sell their homes fast!
Cash buyers also pay less over time. They’re not using a loan to buy the home, so they don’t have to worry about paying interest. Over the years, that interest can add tens of thousands of dollars to the price of a home.
Cash Sales Provide Equity
In addition, cash buyers have instant equity in the home they buy. At We Buy Houses Cash Dallas, we understand that most homeowners want to sell their homes fast! That offers a sense of security in case a financial issue arises. The equity already exists, so not having a mortgage means you don’t have to worry about the changing market.
Faster and Less Stressful
Finally, a cash sale closes quickly and causes less stress. We Buy Houses Cash Dallas, can take you from a Cash offer, to closing at the title company in 5 days. There’s no waiting for the underwriting process, which can take weeks, with a traditional home sale. There’s no anxiety over a less-than-great credit score, and there’s no waiting on tenterhooks for the results of a home appraisal. This is one reason why most homeowners want to sell their homes fast! Contact us today at (214) 723-1304, and see what Cash offer you get for your home.
Given all these benefits, it’s no surprise that many buyers choose to pay in cash. Tune in next Monay for the conclusion of this blog.