January 20, 2022

What Is a Cash Sale?

“How Do I Sell My House for Cash?”

Even in a tough economy and highly competitive real estate market, it’s still possible to sell your house fast. To do so, you have to rethink how your sell your house - or, more specifically, who you sell your house to. If you can’t find a buyer or don’t have the cash to repair your house, the solution may be to sell you for cash to a company that buys houses in your area. 

A cash sale is not the same as a traditional sale. Instead of listing your house and hiring a real estate agent, you sell your house as-is directly to a buyer. It is the fastest way to sell your property without competing against other home sellers. Plus, you pay no realtor commission or closing costs. 

How Does a Cash Sale Work?

In the simplest terms, a cash sale is a direct transaction between you and a home buyer. It works like this:

Schedule a Walkthrough

Instead of showing your house time and again to multiple potential buyers, you schedule a quick walkthrough of the property with a single pre-qualified home buyer. Don’t worry about preparing to show the house. The buyer would rather see your house as-is in its current condition.

Get a Fast Cash Offer from the Buyer

Cash home buyers do not waste their time purchasing a property. If they like what they see, they typically make a fast cash offer within 24 to 48 hours. The offer is based on a percentage of your house’s current market value. An experienced buyer will not try to low-ball you.

Accept the Offer and Close the Home Sale

Do you like the cash offer? If so, contact the buyer and schedule a convenient close date. You decide when you want to close. You meet the buyer and sign the paperwork. Afterward, the buyer gives you a check. They agree to pay most or all of the closing costs. 

At this point, you are probably asking, “What’s the catch?” The answer is there isn’t one. Cash sales always seem too good to be true. However, that’s because you are used to a complicated process for selling your house. A cash sale eliminates the hassle and allows you to sell your house fast with no strings attached. 

Why a Home Cash Sale Works

There are several reasons why a home cash sale is a practical solution to your current situation. 

There Are No Conditions to the Sale

Think about all the hoops you have to jump through to get a normal buyer to agree to a sale. You have to repair the house, make some upgrades, schedule an inspection, get an appraisal, pay some or all of the closing costs, and agree to a sale price. When you work with a company that buys houses, all of that goes away. There are no conditions because the buyer agrees to buy your house as-is.

You Don’t Spend Cash That You Don’t Have

The average home seller will spend between $5,000 and $20,000 to make their property more attractive to sellers. They either spend that cash up front, or it comes out of their profits. They either lower the house’s price or make the repairs. Plus, they lose money in closing costs and realtor commissions. It costs you nothing to sell your house as-is in a cash sale.

Sell Your House and Close in Less Than a Month

As we stated before, professional home buyers do not like to waste time closing a real estate deal. Their goal is to pay cash for your house and close the sale as quickly as possible. Instead of waiting 60 to 90 days to find a buyer, you can close the sale and get a check in hand within seven to 21 days. 

You Can Sell Regardless of Your Current Situation

Divorce, bankruptcy, foreclosure, probate, damaged house, outdated property - all of these can delay a house sale by several months. If you are caught up in a legal situation, you may still be able to sell your house when the buyer is willing to pay cash. In some cases, a cash sale may help you get out of your current situation. 

Get Cash for Your House from Local Guy Buys Houses

Don’t call the real estate agent if you need to sell your house fast. Instead, contact Local Guy Buys Houses first. Let us look at your property and make an offer. Call 855-205-5999 to get a fast cash offer from a company that buys houses in your area.