Process of Selling a House for Cash: Is My House a Good Fit?
5 minute read
August 10, 2021


If a traditional home sale feels too daunting, and just doesn’t seem possible for your situation, don’t panic. You have other options.

Selling a house for cash can help you avoid the challenges of a traditional home sale. You won’t have to update the home, clean it, list it, show it, and wait for a buyer’s financing to go through before you can complete the sale.

We’ve explained how the process of selling a house for cash works so that you can decide if your house is a good fit and if this is a solution that works best for you.

Selling a house for cash: How does it work?

Selling a house to a cash buyer is common in two situations. 

You’re selling in a hot market

The first relates to the market condition. If you’re in a hot market where there are many buyers and fewer sellers, the most competitive buyers come forward.

All-cash buyers provide an advantage because they don’t need to go through the process of getting approved for a mortgage. Without a lender involved, there are often fewer contingencies, fewer steps, and a faster process for the sale, which is ideal for you, the seller. In a hot market, up to 25% of home purchases are cash.

It meets your personal needs

The second is related to your personal situation. If your house needs a ton of work, it’s very dirty, or you inherited it and can’t keep it, for example, a cash buyer might be a helpful option. This could also be the case if you need to sell the house quickly due to life circumstances, such as going through a divorce, facing foreclosure, needing to get out from under debt, or paying back taxes.

How will I know my house is a good fit?

Cash buyers often have looser standards for the condition of a home than the average homebuyer. A cash buyer may be a home investor who plans to make improvements to the house, such as minor updates and a professional cleaning, with the goal of reselling it in move-in ready condition. They may be wholesalers or flippers who plan to make major renovations to sell the house for a higher price.

This is a benefit to you, as it means you don’t have to make the home move-in ready. If your home needs updates or cleaning, you can pass this work on to the buyer.

Most cash buyers will still require an inspection of the house, so it’s smart to disclose any major issues with its condition. If the house needs major repairs, the buyer may request a lower price.

Because you don’t need to make the house move-in ready or prepare it for showings, selling a house for cash is often a helpful alternative option in unique and unexpected circumstances. It simplifies the house sale while you’re going through difficult times, such as a divorce, the passing of a relative who lived there, or facing forbearance, for example.

To decide if your house is a good fit, it can help to ask yourself these questions:

  • Do I want to fix up the many repairs I know the house needs?
  • Will an average buyer be able to move in and live here or do they need to do significant work first?
  • Do I just want to be done with this house?
  • Do I own the house free and clear, have a small mortgage, or a small amount of debt tied to the home (back taxes, water, etc.)?

Benefits to selling a home for cash

Selling your house for cash can be a quick and easy process. A cash buyer is a sure thing, which can be a relief if you don’t have the time or resources to sell your house through traditional methods. Benefits to selling a home for cash include:

  • You can sell your home as-is, meaning you don’t need to spend the time or money making several repairs and updates to the house to make it move-in ready. The buyer will take on this work for you. You don’t even have to clean it.
  • There are no appraisal issues from a lender, as there would be from an average homebuyer who needs a mortgage. With a lender, an appraisal that’s too low could mean the lender won’t provide financing the buyer needs to buy your house, halting the sale.
  • You won’t have to deal with a lender’s requirements, which can involve waiting on a lengthy process and contingencies. Some mortgages that a homebuyer might need, such as FHA and VA loans, have strict requirements for the condition of the home that could affect how much financing a lender will approve, or if they will finance the house at all.
  • You don’t have to wait on the buyer’s timeline to sell their current home and close on the sale of your house with their lender. The process is simplified because there are fewer factors that could affect the process.
  • On a personal level, you can simplify the sale so that you can move on with your life and not have to think about what you’re going to do with this house any longer.

Are you considering selling your house for cash?

If you want to learn more about what options you have for selling your house to a cash buyer, we can help. 

To simplify the process and avoid searching for a buyer you can trust, Bolt and Beam can refer you to a buyer that best fits your situation. Provide details about your situation, and we’ll analyze your needs. From there, we’ll give you information about your home and local market, as well as our best recommendations for all-cash offers.

Contact us or complete the questionnaire below to get started.

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