What Are The Benefits Of Taking A Cash Offer?

When looking to sell a house, you may consider doing a cash transaction rather than selling it the traditional route.  Fast cash transactions are common in California. They have many benefits for those who are needing to sell their house quickly.  When you receive a cash offer, the buyer intends to purchase the property entirely in cash.  There are many benefits that come with cash sale when selling your home. It can help you avoid potential pitfalls that many others go through when selling a house.

Key Differences Between Cash Sales and Traditional Transactions

When deciding if selling your home for cash is the right choice for you, it’s important to note the key differences in and what sets it apart from a traditional real estate transaction.

1. When you sell your home for cash, the buyer is coming from a vastly different financial place than if you were to take an offer from another buyer.  The usual buyer is dependent on someone lending them money for the purchase.  Any movement in the buyer’s financial situation could end the deal before it’s done, and you have to start the process all over again and hope that you don’t have a similar experience.
2. If you are looking to sell your home quickly, cash is also the way to go.  Since cash buyers are not dependent on a mortgage lender, they can close the deal in a matter of weeks.  It can take a month or often longer to finish the selling process when you take the offer of a buyer who needs financing.
3. Appraisals have the possibility of turning a home sale sideways.  When a buyer requires a loan, the mortgage lender will almost always require an appraisal on your house.  If the appraised value of your home does not match with the offer you have accepted, there is a chance that the deal is going to change. It could even disappear entirely. Many cash buyers, including ASDM Homes, will have you sell your property without an appraisal being done. This helps to make the process less risky for you!
4. You also have the ability to directly negotiate with the buyer.  When putting your house on the open market, each side likely has a real estate agent doing the talking for them. Then the agent reports back to you on what was discussed.  Not with cash buyers.  You will get to take a more personalized approach to the negotiation process. You get to skip the middle men and negotiating directly with your buyer!  You can directly express your desires for the transaction so there is nothing that gets lost in translation.  While real estate agents have their advantages, with so many differences in a cash transaction, you may find it worth it to save on costs and handle your part of this process yourself!

Top Reasons to Sell Your Home For Cash

As you can see, there are a number of advantages to selling your home to a cash buyer.  Though it may not be the popular thing to do, and you may have a number of realtor friends, the benefits of this process are appealing to so many people who are needing to sell their home quickly.

1. Full Payment: A cash buyer is able to provide all of the money to purchase your home up front.  This also gets rid of any need for the buyer to get a loan approval, which means you won’t have any hold ups with the process or receiving a mortgage.  
2. Faster Closing Process: Accepting a cash offer bypasses the loan approval process. This can make selling your home much faster than a deal done the traditional way.  If you need to sell your home quickly and not leave deals up to financing problems, cash offers are the offers to accept!
3. Reduced Contingencies: A cash sale often comes with fewer contingencies compared to financed offers. For example, buyers may waive appraisal and financing contingencies since they’re not relying on a lender’s valuation or loan approval.  You also will likely not experience any requests for repairs or credits as you move through the closing process.
4. Increased Certainty: A cash buyer can give you as the seller, a greater sense of certainty that the sale of your house will go through.  When Eric buys homes, you don’t have to worry about financing, inspections, repairs, or prolonged negotiations.  Without all of the hoops, there are much fewer pitfalls that the deal may come to.
5. Easier Transaction: Selling your home to a cash buyer streamlines the transaction process by eliminating the need for lender involvement, reducing paperwork, and simplifying the closing process. This can result in a smoother and faster transaction for you!

Is A Cash Transaction Right For You?

Cash offers are a great asset to sellers, allowing you to have an enjoyable transaction process.  The process is tailor made for people who have specific needs that are hard to cater to when listing your home on the open market.  The cash buyer has more freedom to offer you what you need.  Need more time?  Don’t want to do upgrades? Don’t want to risk the financial side of the deal to fall through?  These type of desires make the thought of a cash sale of your house appealing.

Eric with ASDM Homes has specialized in cash sales in San Joaquin and Stanislaus for almost 20 years.  He is here to help you make your next real estate move as quickly as possible!  Contact us today to start the process and allow Eric to give you a cash offer on your house.