Because selling your home for cash is not the traditional route to go, many still have reservations about the validity of the process. Sometimes it sounds too good to be true — but we promise that’s not the case! Selling a house for cash has benefits that you won’t find by selling a house through traditional means. If you’re on the fence about it, here are a few myths debunked about selling a house for cash.
Myth #1: Cash buyers give low ball offers.
Cash buyers have a reputation for making offers that are far less than what a house can sell for on the market. Unfortunately, this myth is perpetuated by real estate agents who want to make a sale, and eliminate the competition. But in reality, those who buy houses for cash are often real estate investors. These are well-educated people in the market, and have the cash to spend in targeted areas. The offers may be lower in some cases, but they are not low-ball offers. When a home seller works with real estate agents, the first step is always to do a valuation of a house and then make an offer. This offer is almost always lower than the true value of a home. So essentially, the offer you will get from a cash buyer isn’t any different than one you would get from a real estate agent. It’s important to note that when agents present a selling price for a house, they’re also taking into consideration other expenses, like closing costs and agent fees. By selling a home for cash, those fees aren’t included. Because of this cash buyers generally end up offering an amount close to what the true valuation of the house is.
Myth #2: You can’t get more money by marketing your property.
Without question, more people will see your house if you put it on the market. However, this doesn’t necessarily correlate with earning more money on the house. Houses that sit on the market longer will receive fewer offers, and sellers might have to consider lowering the price. There are a variety of factors that contribute to how well a house sells on the market. And if an agent doesn’t have the home priced fairly, the sale can take a great deal longer. A sale can be hindered by the strength of the market, number of available buyers, and season. These factors are unfortunately out of the home seller’s control. However when a seller works with a cash buyer, these factors no longer exist, allowing the process to get done quickly.
Myth #3: Cash buyers are scam artists.
It’s understandable to be skeptical with a process like this because as we’ve stated, it’s not the traditional route. But think about it this way — there are scam artists in every industry. Know that cash buyers are legitimate investors, who are looking for somewhere to invest their money and make a profit. This doesn’t mean you should blindly trust everyone, however. Before you go selling your house for cash, do your homework to make sure you’re working with a reputable business.
Myth #4: Cash buyers will only sell homes in perfect condition.
Actually, it’s the polar opposite! In fact, that’s part of the perks of having a cash offer. Cash buyers do not care what condition the house is in before they buy it. This takes a huge weight off the seller’s shoulders. It also saves you money in having to do repairs.
If you’re in the Bay Area and looking to sell your home for cash, Home Buyers Express can help! At Home Buyers Express, our mission is to give homeowners like you a smooth home selling experience. We aren’t listing your house and waiting for a buyer, we are the buyer, and we pay cash. With over twenty years of experience, we know how to streamline the process. Visit our “how it works” page for more info, and contact us today!