When selling a home, most of us want to get it over with as fast as possible. Unfortunately, if you’re planning on selling your home conventionally, you might be in for a long wait.
For those of you that want to get out fast and close a deal on your home without any fuss, you’ll be delighted to know about the benefits of a cash offer.
The Drawbacks of Selling a Home Conventionally
Once you put that for sale sign up, you’re going to have to do a lot of waiting.
You’ll have to wait to receive a request for a showing.
Then you’ll have to wait to get an offer.
And finally, you’ll have to wait for the deal to close.
Closing the sale takes time. Banks and credit unions can take weeks, if not months, to complete the paperwork to approve a loan and give the go-ahead.
They will also want an appraisal and a home inspection to be performed before signing off on any financing.
Even when you have an offer on the table, the whole deal could go up in flames if your property fails the home inspection.
The appraisal is also a danger. If the appraiser estimates that your house’s value is much lower than the offer the buyers have extended, it could throw the whole thing off.
Failing a home inspection can set back the sale for months, or even years. That’s because if the inspector finds a problem that is going to be extremely expensive to fix and you’re already in an uncomfortable financial position, it will take even more time to sell your property successfully.
When it comes down to it, waiting for a bank or credit union to approve a loan to facilitate the sale of your home can take far longer than most sellers are comfortable with.
A lot of sellers don’t know that there are other options out there. One of the simplest and most effective alternatives to selling a home through the conventional process is to accept a cash offer.
So what is a cash offer anyway? A cash offer is an offer in which you will have money wired directly to your account or delivered to you by cashier's check from the buyer - not the bank.
Sellers who receive a cash offer for their home are not subjected to the same rigorous and time-consuming process of waiting for approval from a traditional financial institution.
That means you won’t have to go through the stressful and potentially disruptive process of a home inspection or an appraisal.
In summary, a cash offer is a ticket to freedom.
It’s a ticket to freedom from your responsibilities with the home.