Real Estate
The real estate market seems to always be in a headline somewhere. In an industry that always changes, but is always good for someone, it can be hard to cut through the information to know what’s right for you. Contacting a cash buyer is an option that’s available to anyone who’s looking to sell their Stockton house. However, there are some circumstances where this option looks more appealing than others.
Not Your House?
The house you may be looking to sell is not necessarily yours. You may have inherited a home or are looking to sell for a parent or grandparent who you are helping to sell. These situations can be complicated. If you now own the home, you may have also inherited a loan that was on the house, and the monthly payments. If your parents are moving to an assisted living facility, money from the sale may be needed to make the necessary arrangements.
Situations like this can come on quickly and can be unexpected. It may also be an emotional situation for you to deal with. If you are not prepared to take on the responsibility of the property, it’s best to offload it quickly so you have less to deal with. With all of the other things that come with big life changes, selling a property does not have to be another huge hassle.
Selling Your House Fast
When you sell your house straight to a cash buyer, the buyer can expedite the sales process profoundly so you can move on to your next adventure. A number of factors play into the speed of a home sale when listed on the market. The unknown factor is always a possibility.
The current market status is going to be the biggest factor. The average days a house spends on the market in California has not dipped below 37 days in any month in the last year. After that timeframe, you are also looking at an escrow period of typically 30 days if everything goes smooth. But it may not go smoothly.
During escrow inspections and appraisals are done on your property. The results of those could change the nature of your deal. The buyer is also going through further paperwork to ensure that they continue to qualify for the loan that they have lined up. You will likely continue negotiations with your buyer during this escrow period. It could also result in escrow lasting longer than the originally agreed upon timeframe. You will retain full responsibility for the house during this time as well.
When you connect with a cash buyer, you can cut that time down significantly. You can go from sale to close in as little as a week!
Renovations and Repairs
A quick Zillow search can show you your competition. You may look at the house you are selling and see that you will need to do a lot of work to compete with similar homes. You may see that you need to make updates to the house in order to get into the price range that you are looking for.
Repairs may not come just before you sell your property, but even during the escrow process. When negotiating for the sale, the buyer may ask for you to make repairs such as fixing mold, replacing windows, replacing a roof, and so on. Repairs like this often come to light during the inspection process, all the things that need to be done to the home soon or are health and safety issues. Depending on the offer, the sale of your house could be contingent on the inspections and if you can’t work with the buyer on what you are able to fix before selling, you may be looking for a new buyer who is willing to work with your desires.
Older homes are more likely to fall subject to these types of repairs. If your property has had any recent issues, it’s best to talk to an agent about them before you list the house on the market as they can tell you the possible issues you can anticipate. It may not be a hassle you can afford to deal with.
Cost of Selling
Selling a house is not a free process. On top of the renovations, you have costs that will arise at the close of your sale. You will have to think of costs like commissions for one or both agents involved, inspections, appraisals, buyer credits, and closing costs. For a $300,000 sale, you are looking at losing around $40,000 with renovations, repairs, sale costs, and more. Talk about sticker shock.
If you are in a position of needing as much of the profits from the sale of your house as you can get, a cash offer could be a great fit. Cash offers do not require agents, inspections, repairs, appraisals, or financial compromises to make the sale work. It’s a straightforward process. After paying off your loan for the house, all of the additional money is yours. You don’t have to worry about any costs around selling your house.
Cash Offer Is A Great Option
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 taking a cash offer for your house appealing
Eric with ASDM Homes has specialized in cash transactions 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.