The experience of selling a house can vary drastically from homeowner to homeowner. Some people manage to sell their home the first day it hits the market. Others wait months just to get a serious offer.
Much of your house-selling experience comes down to the current real estate market. For example, a house will sell much faster (and for more money) in.
Yet, selling a house as-is is a whole different ballgame. There are different rules, different price points, and different buyers. That being said, there are incredible benefits to selling a house as-is.
Want to know what they are?
Keep reading for the top six perks of selling your house to a cash buyer without making repairs or renovations.
- Save Money on Renovations
First, completing repairs, updates, and renovations to get your home ready for the market can be incredibly expensive. In fact, the average home seller prepping their house to make it ready for buyers. While this can certainly add to the value of the home and make it more appealing, you might not have that kind of cash lying around.
Additionally, it’s important to recognize that you won’t always get an equal (or higher) return on those types of investments. For example, you could dump $10,000 into a new roof only to see your home value increase by $5,000.
- Skip the Extra House-Selling Fees
Repairs and renovations aren’t the only areas in which selling a house as-is to cash buyers will save you money. Selling a home traditionally means hiring multiple service providers to:
- Inspect your home
- Determine your home’s value
- Help you list and sell your home
- Stage your home
- Clean your home
- And more
While not all of these services are mandatory, many of them are. For instance, many lenders won’t approve a buyer for a home unless it’s been professionally inspected and officially appraised. Each of these services costs hundreds of dollars.
If you hire a realtor, their commission for helping you sell your home is generally about 3%, though it can be higher. Moreover, many negotiations end with the seller paying the buyer’s realtor fees as well. All in all, you could be paying well over $10,000 just in realtor fees.
Clearly, if you’re looking to save money, it would be beneficial to learn how to sell a house as-is.
- Avoid Home Tours and Open Houses
Even though you’re planning a move, it doesn’t mean you want dozens of strangers parading through your current home. If you still live in the house you’re trying to sell, having a bunch of people walking through, making comments, and judging your home can be annoying, to say the least.
This also entails continuously cleaning up after yourself and making yourself scarce when your realtor is showing the home. If you’re not working with a realtor, you’ll be the one giving tours.
When selling your house as-is, on the other hand, you can eliminate this entire process. The cash home buyer will tour the house one time in order to give you an accurate cash offer. If you accept the cash offer, it’s a done deal.
- Choose a Fast, Guaranteed Closing Process
You’ve probably heard countless stories of house sales that have fallen through at the last minute. Even after the buyer and seller agree to terms, the closing process is not guaranteed. In fact, the sale can fall through as late as one day before the closing date.
This can happen for any number of reasons.
The buyer could decide to forfeit their earnest money and back out of the sale for any reason. Alternatively, the buyers might accidentally disqualify themselves by charging up a credit card, getting a new car, or accepting a new job offer. Any change in the buyer’s financial status has the potential to delay or completely derail the closing process.
Conversely, when selling a house as-is to a cash home buyer, you can guarantee the closing of the sale. Just as importantly, while the traditional closing process typically takes four to six weeks. Closing with a cash home buyer can be completed in one to two weeks.
- Selling a House As-Is Can Help You Avoid Foreclosure
Sometimes, people can get backed into a corner with their mortgage. Even the most responsible homeowners can fall on hard times. Unfortunately, if you have trouble paying your mortgage, the lender might not be as forgiving or compassionate as you’d hope.
After a few months of missed payments, the lender or bank will seek to foreclose on your home. In this case, selling a house as-is to a cash home buyer can help you avoid a major financial crisis.
If you’re facing a foreclosure and are wondering “Can I sell my house online?” the answer is yes. Follow that link to find more information on how to make it happen.
- Find a Solution to a Unique Problem
In some situations, learning how to sell a home quickly is essential to solving a complicated problem. In this case, selling a house as-is might be your only solution. You may not have time to make repairs, list your house on the market, wait for an offer, and endure a long closing process.
Situations in which you could benefit greatly from selling to a cash home buyer include:
- Going through a divorce
- Facing financial issues (foreclosure or otherwise)
- Inheriting a home
- Being relocated for work (or getting a job opportunity you can’t pass up)
- Qualifying for a new home in a competitive housing market
Selling your house quickly can help you liquidate assets, simplify a divorce, or avoid having two house payments.
Looking for More Real Estate Advice?
There are pros and cons to selling a house as-is. If you have the time and money to invest in the traditional home-selling method, you have the potential to make more money.
However, this isn’t always an option for homeowners. And, as you’ve seen above, there are a lot of benefits to selling a house as-is.
Make the right choice based on your circumstances. And if you’re looking for more real estate advice, home selling tips, or moving tips, don’t go anywhere. We also have a ton of content created to help landlords manage their properties and tenants.