If you want to sell your house fast for cash, there are options to receive an all-cash offer that are easier than hoping your listings and showings will bring in a buyer who can pay in cash.
There are many unique circumstances in which you might need to sell your home. They don’t all necessarily fit, cut-and-dried into the traditional home-selling process.
Learn more about the upsides of all-cash offers when selling your home.
What is an All-Cash Offer?
All-cash offers typically come with a faster and simpler sales process than the traditional route of selling a home. You can get an all-cash offer by selling it to various types of trusted buyers.
These homebuyers make offers based on whether your home needs minor updates or major renovations:
- Investors, or i-Buyers: Provide simple fair offers to homeowners looking to expedite the sales process with homes that need minor updates. These types of buyers include Opendoor, Offerpad, Zillow Offers, and Redfin Now.
- Wholesalers or Flippers: Local real estate knowledge experts that sell homes that need extensive repair or renovation prior to sale.
With either of these options, buyers are often able to work quickly, giving you a cash offer within 24 to 48 hours. From there you can close on the sale of your home within as little as seven days, walking away with the cash value of your home.
What are the Upsides of Selling Your Home For Cash?
There are several complicated situations in life where the burden of selling a major asset, such as a house, can feel impossible to manage.
By selling your home for cash to a buyer who plans to take on any updates and resell your home, you avoid having to do the following with your home in order to sell it:
- Update and renovate it
- List the property for sale
- Clean the home
- Stage it for showings
- Manage showings
- Negotiate with multiple potential buyers
- Wait for a buyer’s mortgage to get approved
Let’s dig into a few scenarios where selling your home quickly for cash is beneficial.
Avoid Foreclosure and Save your Credit
If you’re struggling to afford your home, selling it quickly can help you get out from under your mortgage payments and avoid foreclosure.
This frees up your finances when you pay off your mortgage with the money from the sale of your home, allowing you to more easily afford your other expenses each month.
Using the cash from the sale to pay off your mortgage, you can remove the debt from your credit report and eliminate issues with your credit score from missing payments or making late payments that you were struggling to afford. Improving your credit score allows you to move forward and more easily get approved by other lenders or financial institutions when needed.
Unwanted Inherited Homes
If you inherit a home following the death of a relative but can’t maintain it, and don’t want it sitting vacant, you may decide it’s best to sell it.
There can be many steps involved in selling it, along with the emotions tied to the home for yourself or others involved. First you may need to empty the house and decide what to do with the person’s belongings. Next the house might need repairs, updates, or extensive cleaning to sell it.
With a cash offer, remove the burden of preparing the home to sell, managing showings, and waiting for a buyer to come along. With an instant cash offer, fewer decisions will need to be made about the home’s condition and everyone involved can move on more quickly from the difficult task of managing the additional house.
Divorce
If you and your former spouse decide it’s best to sell a home that you owned together, the legal battle of dividing overall assets can be difficult enough without the added stress of preparing to sell a house.
By selling your shared house for cash, you can avoid additional coordination and decision-making with your former spouse. Instead you can sell the home and move on to create a new home for yourself. This includes using the cash from the sale of the home to pay off a mortgage you may have shared, clearing you both from a large financial tie.
Consider Selling to a Cash Home Buyer
Selling your home to a cash buyer might be the best option depending on the time you have and the money you need to make from the sale of your home.
To simplify the process and avoid searching for a buyer you can trust, Bolt and Beam can refer you to a cash home 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.
If you’re interested in learning more about selling your house fast for cash, contact us or complete the questionnaire below to get started.
We’ll learn about your situation and make the best possible recommendation for selling your home without the hassle of a traditional sale, while helping you get the most out of your property.