According to the Nation Association of Realtors, the vast majority of home sale transactions in the United States today utilize the services of a real estate professional. In fact, current statistics show this to be true for 87 percent of home buyers and 89 percent of home sellers in 2017.
But working with a real estate agent for a traditional home sale usually means spending months to prepare the home for the market, followed by more months of marketing the home, and then another one or more months to move from contract acceptance to closed sale.
Homeowners who find this process to be too time-consuming may be considering the option advertised by investors who use wording such as "sell a home for cash." In addition to enjoying a less complicated home sale process, homeowners who choose this option can avoid paying an expensive sales commission.
Will selling my home for cash be faster than a traditional real estate listing and sale?
Unlike a standard real estate transaction involving a real estate agent, investors are eager to close quickly, often within a week or ten days from the date on which the purchase contract was signed by both parties. This is possible because the seller does not have to wait for their buyer's financing to be approved and finalized. Instead, the investor simply writes a check or transfers funds to cover the purchase cost on the day of closing.
Will I have to pay for repairs or closings costs?
Another excellent benefit for homeowners when opting to sell for cash is that they need not worry about preparing the home for market or making any repairs. In fact, many investor buyers do not even make their offer contingent upon a home inspection or appraisal.
Additionally, many investors who negotiate all-cash home purchases are willing to pay all the closing costs, instead of splitting the responsibility with the home seller as is common when selling with the assistance of a real estate agent.
Can selling to an investor help avoid a foreclosure?
While the answer to this question will depend upon the amount of the foreclosure judgment, as well as the cash amount offered by the investor, it is certainly possible for this type of sale to help a homeowner avoid a foreclosure.
To learn more about the process of selling a home for cash and how it can benefit you, homeowners are advised to speak directly with a local real estate investor or company that advertises this type of home purchase.