When it comes to selling your home, there are a lot of moving parts that go into it. Many wish that it would be as simple as making an intent to sell the home, finding a pool of buyers immediately, and executing the sale.
Straight to the point and transparent. Yet it is rarely like that and when you go through traditional methods, it can take several months to sell your home.
Traditional Methods can cost you.
Traditional methods are where you, as a seller, will use a broker, who finds other retail buyers (homeowners) to buy your property. There’s a consistent negotiation that goes on between your broker and multiple buying brokers. This is all done in a way to maximize the offer you receive for your home.
This also can take a lot of time, and you have to keep paying your mortgage and other expenses as this goes on. So even if you’re able to sell your home at that offering price, remember to factor in those costs you had to pay to reach that goal. Even when you are on the final leg of your journey, you will usually have an additional month of payments during escrow.
To add to the additional mandatory payments you need to make when you’re selling your home, you will also have to start spending extra to make sure your home looks as fresh and sellable as possible. That means added expenses, for the length of the period you’re selling, that will start to eat away at your potential end profits.
On top of the extra months of payments not fully thought through, there’s also the brokerage fee that needs to be paid out and handled. This will almost always be a lump sum of the percentage of the sales price. That means you pay out a significant piece of your sale to a broker, adding a huge amount to the rest of your added-up costs. This is a big percentage that is taken out from that sticker price that you were expecting to get in the end.
Cash Only Deals are fast and reliable
All of the above-mentioned that may cost you money is what you get to look forward to when you consider cash-only deals. You will move much quicker, and not need to do any major repairs or maintenance to make your home look sellable. Cash-only deals come from highly motivated market movers that are ready to buy in whatever condition your home is in.
There are some discussions about how low cash-only deals may seem to come in. This is extremely misleading because a lot of the time it only comes in as a final number, versus an assumed larger potential number. Cash-only deals mean liquidity for your home as soon as the paperwork for the sale and ownership transfer is done. That means months of payments are cut out immediately. You get liquidity in a market that is always shifting and can even shift downwards sometimes. You get the face value of your property for that day or month, without having to worry about external market conditions that affect the housing market.
That’s a big win and a lot of ways to save when using all-cash buyers. One of the major intangible benefits also comes in the form of basically zero stress because when your mind is ready to sell, an all-cash buyer is ready to take your home off your hands fast. No need to overthink the situation or be concerned about the price, because you can get your cash and move on with whatever the next phase of your life may be.
Added Bonus All Cash is nearly a guarantee
Another major thing to consider is that all-cash buyers are more likely to buy your home or property than retail or traditional buyers. This is another indirect way that all-cash offers actually end up saving you a lot of money.
Traditional buyers can simply say no during a sales negotiation. Every time a deal falls through, the process usually has to restart itself. There may have been other buyers in the pipeline, but they are also looking at different options to purchase a home. They may no longer be available or maybe may reconsider a different price if someone says no.
All these unknown factors play a major role in why these traditional retail buyers are not really guaranteed a sale at any point during the sales process. That’s another major way that all-cash buyers help save you money, through the fact that they are fast in their decision to purchase.