Real Estate
If you own a home in Stockton and want it sold fast this summer, you don’t have to wait! Even a home in disrepair can sell fast as long as you have the right buyer. Having a house like this might be a hassle, but it does not have to be a hassle to sell!
When you have an outdated home, or a home in disrepair, it can be hard to imagine being able to compete on the market and sell your house. With the costs of repairs and the possible problems that could come up during inspection and appraisal, it can be enough to keep you out of the real estate market. Add in the time it takes to sell a house on the market, we understand all the hesitations.
Before choosing to sell your Stockton, CA home, make sure you know all the steps and details that are involved.
Renovations and Repairs
Before your house goes on the market, you will likely have to do some improvements to get a smooth sale. Some of the fixes will be cosmetic. The aim for these is to get more buyers through your door and a higher price point. Others may be more like repairs – replacing a roof, fixing leaking showers, replacing windows, etc. Depending on the projects you choose to do, this could take a few days, or a few weeks. If you encounter problems along the way, it may be longer than you originally planned for.
On The Market – Sell Your Stockton House
This is the waiting period. While your house is on the market, your time will be spent getting ready to move and keeping the house clean! You will hopefully have showings through the week and open houses.You are waiting for the right offer to come in on your house.
The Escrow Process
After you accept an offer, you still need to sell your house. Once you accept the offer, your house will be thoroughly looked at as well as your buyers finances. As inspections and appraisals happen, you could very likely end up in negotiations again. If your house appraises for less than the previously agreed upon price, you may need to talk about money. Or if inspections show a number of issues, you may be fixing up the house before closing on the deal. You may end up not selling to them due to the amount of money or fixes the buyer asks for. Whatever ends up happening, you are looking at about 30 days in the escrow process.
So you are looking at about 3 months to sell your Stockton house if you connect with a good agent today.
What Makes A Cash Sale Different
When deciding if selling your Stockton home for cash is right for you, it’s important to note what sets it apart from a traditional real estate transaction.
- 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 that buyer’s financial situation could end the deal before it’s done. This leaves you to start the process all over again and hope that you don’t have a similar experience.
- 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.
- Appraisals have the possibility of turning a home sale sideways. When buyers require a loan, the mortgage lender will almost always require an appraisal. If the appraised value of your home does not match with the offer that you have accepted, there is a chance that the deal is going to change, if not disappear entirely. Many cash buyers, including ASDM Homes, will have you sell your property without an appraisal being done. This makes the process less risky for you!
- You also have the ability to directly negotiate with the buyer. When you go through putting your home on the open market, each side likely has a real estate agent who does all the talking and then reports back to you. Not with cash buyers. You will get to take amore personalized approach to the negotiation process by skipping 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!
Advantages To Selling Your Stockton House For Cash
There are a number of advantages to selling your home to a cash buyer. It’s not the popular thing to do, but the benefits of this process are appealing to many people who need to sell their home.
- 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.
- Faster Closing Process: Since accepting a cash offer bypasses the loan approval process, selling your home can close much faster than deal done the traditional way. If you need to sell your home quickly without financing problems, cash offers are the offers to accept!
- Reduced Contingencies: Cash offers often come 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.
- 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.
- 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!
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 Stockton 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.