Top 5 Reasons to Sell Your Home for Cash

Posted by JohnyParker on February 8th, 2021

When it comes to selling your house, picking the right selling strategy is half the battle. Try to choose a strategy that suits your situation. For instance, if you don’t mind a long wait, then listing your property yourself might be a good idea. But if you don’t have the time or expertise for listing, marketing, and negotiating, then you might want to work with a real estate agent.

However, if you are like most home sellers, you’ll probably say, “I want to sell my house fast chicago.” In that case, consider selling your house to a cash buyer. Selling for cash means you’ll be able to complete the transaction faster at a fair price. But if you are still thinking to yourself, “Should I sell my house for cash?” here are some benefits of selling to a cash buyer.

1. Sell your property as-is

When it comes to selling a fixer-upper, most real estate agents would say that you have to renovate it before you can sell it. But it doesn’t have to be that way when you are selling your home for cash. Typically, a cash buyer will buy your house as-is. This allows you to avoid costly repairs and renovations.

2. Lower risk of sales falling through

A traditional home sale can fall through at the last minute. For instance, if the buyer fails to secure funds, changes their mind, or if their loan application gets rejected, that could result in a failed sale. Situations like this are few and far between in a cash sale. Cash buyers usually close the deal within a few days. Once they send you the cash, there’s no turning back the clock. In other words, cash home buyers are more reliable when it comes to sale security.

3. No fees and commissions

In a traditional home sale, you’ll have to pay a good amount on commissions and fees. In general, a real estate agent takes around 6% of the home’s selling price. Plus, you have to pay hefty closing fees. With a cash sale, you don’t have to pay any such fees or commissions.

4. More flexibility

When someone buys a home with the express purpose of living there, they usually conduct thorough due diligence before buying. So, if you say, “I want to sell my house fast,” or “I want to sell my house chicago because my tenants are terrible,” it usually doesn’t go down well with the buyer. In a cash sale, however, you have more flexibility in the terms of sale. Professional cash home buyers don’t bother much with why you are selling your house. If you are selling your house to avoid foreclosure or due to divorce, the cash buyer will still go ahead and buy your house at a fair price.

5. Fast closing

While a traditional home sale takes weeks or months, a cash sale takes only a few days. That’s because a cash sale doesn’t depend on bank loan approvals and appraisals. In most cases, it takes less than 7 days to close a cash sale.