This is If you’re working with a tight deadline, we also put together a step-by-step guide on how to sell your house fast in Los Angeles when you only have one week. especially true when you’re trying to sell a house fast in a slow market, where traditional listings can sit even longer. t-weight: 400;”>If you’ve already experienced a buyer backing out after inspection in Los Angeles County, you understand how devastating those last-minute cancellations can be. eight: 400;”>Traditional house selling forces you to go through an estate agent and deal with a bidding process. It takes a while, and then you eventually get the funds transferred to you via the estate agent. But what if you opted to sell your house for cash instead? The benefits of accepting a cash offer on your house may surprise you. Read on to learn seven reasons why it’s a smart way to sell your home – but first, what is a cash offer?
Understanding Cash Offers For Your House
Before you consider the pros and cons of a cash offer on a house, you need to understand what we’re talking about. Rather than listing your property across various property portals and dealing with agents and various buyers, you sell your home to a cash buyer. Companies like ours – John Medina Buys Houses – will survey your property and give you a cash offer based on its condition. You either accept or reject it. If you accept, then the deal is done, and you set up a closing date to get your money. It’s as simple as it sounds, and here are the biggest benefits of cash offers on houses for sellers:
#1 No Estate Agent Fees
Bankrate puts the average real estate commissions in California at 5.18%. For context, the median house price in LA is just over $900,000, which means you’re forking over $46,809 in total agent commission. Selling for a cash offer means you don’t pay any of these fees – nor will you pay any other fees associated with traditional house selling. It means 100% of what you’re paid goes directly to your bank account.
#2 Sell Your House A Lot Faster
It can take an average timeline of 47-62 days to sell your house. That timeframe is taken from the moment you list your property through to the closing date. It’s a lengthy process that can even extend beyond this in some cases, but you don’t have that problem when accepting a cash offer. Your house is sold on your terms; get your cash offer and then set the closing date to suit your needs. The entire process could be done in a couple of days! Speediness is even more important when selling your home in LA because it can often take up to 86 days to sell in this city specifically – which is way more than the national average stated above.
#3 You Don’t Have To Deal With Annoying Buyers
Part of the reason homes typically take so long to sell is that buyers mess around with sellers. You have to stay in contact with a buyer, but this means communicating through the estate agent. People can submit stupid bids that waste your time or ask for multiple viewings just to avoid communication afterward. Selling for cash puts you in the unique position to avoid annoying buyers. You sell your home quickly because the cash buyer gives you a valuation and leaves it at that. They’re always going to buy the house; it’s simply up to you if you’ll accept their offer.
#4 Zero Risk Of The Deal Falling Through
Following on from above, cash sales have no risk of falling through because you’re usually dealing with a company instead of a single buyer. When a home-buying company gives you a cash valuation, it means they have the money ready to pay. You don’t have to wait around for the buyer to sell their previous property or obtain a mortgage loan – both of which often result in deals falling through. For a bit of context, real estate reports from June of this year found that 57,000 home sales were cancelled in that month alone. That equates to 15% of homes that were up for sale. There’s always a chance that your sale can end in tears, but not when you go down the cash route. As long as you’re happy with the offer and want to go ahead with things, then selling for cash will always result in a closed deal.
#5 Allows More Flexibility For You, The Seller
As the seller, you’d assume that you’re in control of the house sale process. Unfortunately this rarely happens. You’re normally reliant on estate agents or buyers to dictate the entire process – which means you end up as a passenger. You need to wait for the buyer to submit a good enough bid, and even then you may have to wait around for them to obtain financing, or possibly they request a specific moving date. It’s out of your control, though accepting a cash offer on your house changes things. One of the best benefits of accepting a cash offer on your house is that you get all the flexibility you need. At John Medina Buys Homes, we give you a no-obligation quote for your house and leave the decision in your hands. If you like what you see, then you set the final closing date. Nobody will rush you around or mess you about; choose exactly when to sell your home so it fits your schedule.
#6 No Need For Repairs Or Renovations
Many estate agents or buyers will demand that you make repairs or small renovations before selling your home. Some reports indicate you could spend around $5,400 just doing up your home to make it more attractive to prospective buyers. That’s a lot of money, and you can save it by going down the cash offer route. Cash buyers will buy your home in any condition and provide a fair valuation for it. Save the effort of fixing up a home that you’re about to sell, and accept a nice cash offer instead.
Learn More About How We Buy Houses!
As you can see, the benefits of accepting a cash offer on house sales are extensive. It’s the best way to sell a property in the shortest time while avoiding any annoying fees or extra payments. If this interests you, then feel free to learn more about how we buy houses so you can see the full process and get a valuation today.
