Maybe you’ve heard about those cash home buying companies that will pay cash for your house and close within a couple of weeks. You might be wondering if it’s worth it, or if you should stick with the traditional way of home selling. In certain situations, a cash sale is worth it.
The traditional home sale process takes about 3 to 6 months if all goes well. If you don’t have time to wait that long, you might be better off selling to a cash buying company. There are several situations where waiting can cost you money and precious time.
If you’re having financial trouble and facing foreclosure, you may need to get out from under your debt. Or, maybe your job has been transferred to another city and you can’t afford to keep up a vacant home while it’s on the market.
Your Home’s Condition
The condition of your home should also be a factor in your decision. To get top dollar on the real estate market, your home needs to be in pristine condition. If your home needs extensive repairs, you would either have to invest thousands into fixing it up or ask for much lower than market value.
A cash buying company will buy your home “as is,” in its present condition. That relieves you of the financial burden of having to make repairs or hire somebody to do them. Eliminating repairs also speeds up the sales process.
Your Local Market
Finally, you should consider how homes are selling in your area—not just in your town, but in your specific neighborhood. Some neighborhoods are highly desirable and homes will sell quickly. In others, they will linger on the market for some time, leaving you on the hook for paying the bills until finally, someone makes an offer.
When you sell your home to a cash buying company, you’ll get an offer within 24 hours, and you can close in just a week or two.
Selling to a home cash buying company is a good choice if you have a house needing extensive repairs or if you need to sell quickly, for whatever reason. It’s a good idea to get a no-obligation cash offer and discuss your situation with the cash buyer.
Need to sell a home in Utah? See how Utah Sell Now can help you with a cash sale.