Why Sell For Cash?

Sell Your House As-Is

When selling your home through the traditional approach of listing with a real estate agent; a seller will soon realize the extent of the repairs that need to be completed to attract buyers. These repairs are typically very costly and usually take weeks or even months to complete. When selling for cash, the buyer is purchasing the house as-is. The seller is not required to make any repairs or upgrades; they just need to pack up what they are taking with them and move out.
There are no appraisals when selling for cash. The buyer is purchasing the property as it stands and since there is no traditional bank financing required, there are no bank requirements of having the house upgraded to a certain standard. In other words, a buyer is avoiding all of the hassles associated with a typical sale when they sell for cash.
No Home Showings
When you sell your home for cash, you do not need to tolerate the endless stream of prospective buyers wandering through your home on sometimes a daily basis. How do you even know if these potential buyers are even qualified to purchase it? Is the Realtor just using your house as a lead generator for other listings? How are you able to gauge the actual motivation of the proposed buyers? Is the real estate agent going to require you to host an open house or a networking event for other agents? Is this where the commission is going?
However, when you sell your home for cash, you eliminate the need for showings. The buyer is willing to purchase your home as-is after a short walk through and possibly an inspection with the buyer’s contractor. No need to have your life disrupted by a never-ending cascade of showings.
No Commissions
When you are selling your home for cash, you avoid an enormous amount of fees and commissions. Traditionally, when selling a home, the seller cannot count on the proposed sales price as the amount they will receive. The seller needs to pay the agent’s commission (about 6%), closing fees (about 2%), along with resolving the contingencies a buyer may ask for (replacing a HVAC system, replacing a roof etc.). A seller will watch the potential amount they were planning on depositing into their bank account dwindle as the buyer’s contingencies pile up.
When selling to a cash buyer, there are no commission and no fees. The amount you are offered, is the amount you deposit into your bank account (after any mortgage payoff or any back taxes). Lastly, the traditional sale process may take 6-12 months, unlike a cash offer that might close in 6-12 days.
Behind on Payments
Most property owners are not aware that they are still able to sell their property if they are behind on their mortgage payments. If you find yourself in this situation, you can still sell your home however, it is very important to fully understand how this will affect the amount of money you are depositing into your bank account.
The seller is responsible for all missed payments and any penalties that have been incurred because of them. The seller is expecting the seller to provide a full repayment (this is also important for saving your credit). Depending on your unique situation, if the seller still has equity in the property after the back payments and penalties, they will receive this at the closing.
Selling to a cash buyer will shorten the selling process and the homeowner may be able to avoid paying any additional payments while also saving the homeowner’s credit.
Job Loss
If you have experienced a job loss, it is a frightening situation. It is important to make fast changes to conserve cash and minimize expenses. If you are looking to save on housing; selling your house for cash is a quick and easy solution. When you find yourself in this situation, it is important to reduce your monthly expenses but it is also crucial to avoid the long-term consequences of ruining your credit from missing payments. Your goal is to conserve your cash and sell your home as fast as possible.
Selling a home traditionally will take several months and will require additional cash to make repairs, pay fees and commissions, not to mention the additional payments you will need to make before your property sells. A very difficult circumstance to find yourself in without a steady source of income.
Problem Tenants
Do you own a home and currently have problem tenants? Are they behind on rent and/or becoming a management nightmare? Selling your tenanted property is usually not an option when selling traditionally through an agent. Agents will normally want the property empty to make their job easier. Your other solution is to start a timely and expensive eviction process. During this process you will be required to make mortgage payments and service the tenants while waiting for them to be evicted. After they are evicted, you will then be required to make repairs to the property before listing it with an agent.
If you sold this property for cash, the buyer will take over the property as-is, with the problem tenant. The buyer will handle the lengthy eviction process and the seller will walk away with cash at closing and no more headaches.
Inherited Home
Have you inherited a home? Do you have no desire to live in this property? Have you inherited this house with others? The easiest solution is to sell the property but, what happens if the property needs work? What happens if none of the new owners want to spend any money on; repairs, cleaning, insurance, taxes, utilities etc. during the sales process? Do you not want to wait several months to collect your money?
Selling to a cash buyer is a perfect solution. A cash buyer will provide you with an offer with no fees, commissions or contingencies. Upon closing, you can distribute the funds to the parties that have inherited the property with you; without any expenses or future financial commitments. It makes the process of selling your inherited property a quick and easy one.
Avoid Foreclosure
Are you facing foreclosure? Are you aware that a foreclosure can drop a person’s credit score over 200 points? This drop in credit will dramatically affect your ability to borrow money and rent an apartment in the future. If you are behind on your payments, you do not have time to waste. Each day you are falling further and further behind to the bank. You do not have 6-12 months for your house to sell traditionally through an agent. Your goal is to get out of your house and mortgage without damaging your credit.
A cash buyer will purchase your property quickly and without contingencies. It is important to realize that you will need to pay the bank any back payments and penalties before you are able to sell, however; your credit will not be damaged and if you have equity in your home, you may still be able to receive cash in your pocket.
Vacant House
Do you have a vacant home you are looking to sell or have you already tried selling it? Have you realized it is much more difficult to sell a vacant home; while still having to pay your mortgage, taxes, insurance, repairs etc.? Vacant homes require regular maintenance and close attention since there is a constant risk of damage, theft and vandalism. This becomes expensive and very time consuming for the owner.
Selling a home in the traditional manner will take months and the owner will incur additional expenses and hassles during the process. The agent will require the owner to make repairs and possibly stage the home with furniture and fixtures before they will list it. Selling the home to a cash buyer will allow the owner to sell their vacant home in days, not months. No showings, no commissions, no fees and no contingencies.
Tax Liens
A tax lien is a lien that is imposed by law onto a property in order to secure the payment of taxes. If you have tax liens placed upon your property, you might want to consider selling your property. The problem will only multiple when the tax delinquent homeowner tries to sell the house with a real estate agent. This process takes many months and the seller will need to cover commissions and fees in addition to the back taxes and interest.
A homeowner looking to pay off their tax liens should consider selling their home to a cash buyer. A cash buyer will be able to review their property and purchase it within a couple weeks. The seller will have their tax liens paid off and receive the difference between the sales price and the tax liens in cash at closing.
Expired Listings
Have you previously listed your property for sale and it never sold? Has the real estate agent suggested re-listing it? Have you spoken to another real estate agent that said they could sell it if you re-listed with them? Is their only solution to lower the price or having you spend more money in renovating the property or staging it? All the while you are paying; taxes, insurance, utilities, a mortgage etc. It seems that you keep spending money instead of actually selling your property. Are you willing to wait another 6 months to see if it sells this time?
There is no need to put your plans and life on hold for even longer. The cash selling process is simple and convenient. A cash buyer will make an upfront cash offer with a closing within a couple short weeks. Your property will finally be sold with no commission, fees or contingencies.
Fire Damage
Has a fire occurred at your home? Are you left wondering if you should repair the house yourself? Have you realized the renovation process will take several months to complete and require hundreds of hours of your personal time to manage all of the different contractors? Is your family really going to move back to the house after living in another home for 6+ months?  Do you want to avoid the time, stress and financial burdens of dealing with insurance adjusters/inspectors, waiting for an insurance payout and then running a large renovation; all while working fulltime?
Another solution would be to take the insurance payout and sell your house for cash. A cash buyer will purchase your property as-is within a couple weeks; allowing you to avoid the aftermath of dealing with a fire damaged home. There will be none of the financial or time burdens associated with a large renovation; allowing you and your family to start fresh.
Water Damage
Water is one of the most invasive and destructive elements, especially to homes.  Florida properties are even more susceptible to water damage because of our wet weather, humidity, storms and hurricanes. A property that is not properly maintained will invite water damage and mold from broken HVAC systems to leaky roofs and windows. Repairing a water damaged house is a very expensive and time-consuming project. From pin pointing leaks to remediating mold; the process can be dangerous to contractors and expensive to the homeowner. If the process is not completed correctly, it can be harmful to future residents.
If your property has been damaged by water, it might be easier to sell your home to a cash buyer then to begin the long renovation process. A cash buyer will pay you for your property within a couple weeks and if there is any insurance money, the homeowner can keep this.
Nearly 50% of marriages end in divorce. Divorce makes the process of selling a property a difficult task; both financially and emotionally. During a divorce; both partners want to split finances and a drawn-out home selling process does not make that easy. Selling a house with an agent is a long-term endeavor but it is also an expensive one. Agents will require homeowners to prepare their homes for sale. This includes making repairs and performing upgrades. This is very expensive but it also can create an extremely stressful situation for a couple that is splitting up.
A better solution for a divorcing couple is to sell their home to a cash buyer. This will provide each spouse with their portion of cash from the home within weeks, not months. The couple can sell the home with no fees, no commissions and no repairs.
Moving is a normal part of life. If you need to move for a job, a spouse or another family member, you will quickly realize it is not a simple process; especially if you own your home. Finding a new home, arranging a moving company and transferring your utilities take time but selling your old home should not. Most homeowners that are relocating, will not have the luxury of waiting 6+ months to sell their home or the ability of making double housing payments.  The problem is that selling through a traditional agent is not a quick or easy process.
A homeowner that is relocating should consider selling their home for cash. The cash selling process is fast and simple. Most homes can be sold within a couple weeks and there are never any fees or commissions.

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Has your home become a burden? Does it require time & money you can't afford to give? Is it putting a hold on your life? How would it feel to wake up tomorrow knowing your house problem was gone and money was sitting securely in the bank? If this sounds like you, selling your house fast for cash in Florida may be a great option!

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