Whether it’s to start a business, needing to relocate quickly, or other reasons, the option to sell your home for cash could be the right one for you. Reports suggest almost 50% of all homes now sell for cash.
Cash investors and buyers purchase properties as-is and can usually move much faster than the conventional selling route.
You can reduce costs because there’s no need for expensive appraisals. You will also save on agent’s fees which can make a big dent in how much you take away.
To see if this could be a good option for you, here are our ten tips to help you sell your home for cash.
1. Be Upfront
The reasons for going down the cash route for selling your home are many. Whatever they are, make sure you tell all to the company you’re dealing with.
Things that might put regular homebuyers off may not concern investors. Let them know about any repairs needed, neighborhood issues or liens on the property.
Letting them know upfront will smooth out any kinks that could arise later on.
2. Get Your Facts Together
When selling your home for cash your investor will be interested to know any details you can share with him or her.
- When it was last rewired
- When you replaced your appliances
- When the heating and cooling systems were installed and last serviced
- Details of any structural work undertaken
Share all of these details with the potential investor and it will make it easier for them to make their valuation.
3. Get your Loan Balance
It’s very important to make sure that along with the facts already mentioned, you have an up to date loan balance from your mortgage lender.
Call them up and make sure you have this to hand before entering into any negotiations with a cash buyer. Doing this will mean you know whether it will be covered.
If not, you can plan for how to deal with any shortfall and have the full story to go back to your lender with.
4. Get a Storage Unit
Show your potential buyer you mean business by totally decluttering your home.
Putting your things into storage will help an investor to see the potential of the home and sends out a clear message that you’re out of there!
Another advantage is that it’s also much easier to keep your home tidy for viewings with potential investors and buyers with less clutter around.
5. Agree on a Price With Your Lender
If you’re in danger of foreclosure, it may be possible to have a short sale rather than have the lender foreclose on the house.
If you’ve lined up a cash investor ready to take it off your hand this could help you to avoid the negative ramifications of foreclosure. These include a poor credit rating and even bankruptcy in some cases.
This could be an attractive option, but first, you’ll need to agree on a price with your lender. See if this is an option for you in our local guide to stopping foreclosure.
6. Get The Asking Price Right
Make sure that your home is attractive to cash buyers by having an up to date, realistic figure in mind.
When you sell your home for cash there may be a difference between selling on the open market. This needs to be weighed against the time, expenses and uncertainty of traditional home sales.
Check out the local market, including recent sold prices online, and make sure you always compare like for like. Don’t forget to factor in the true state of your property, both structurally and decoratively.
Again, be upfront about the state of the property and any other factors that need to be considered.
Having a reasonable asking price will help you to achieve the fast sale that you need.
7. Get The Right Deal For You
There are lots of companies out there claiming they’ll buy your house for cash. Make sure you check out the facts behind the hype.
National and local companies are looking for your business and enticing sounding initial offers may not materialize as the deal progresses.
Local companies may be able to give you a more realistic price based on their knowledge of your neighborhood and property type.
Make sure you do your homework.
8. View The Reviews
A few minutes spent online checking out the reviews can help to answer many of the questions that you may have.
Likely those sellers faced similar concerns and situations to you. Reading their reviews can help you see a realistic picture of the challenges you may face, and also the benefits that this option can result in.
9. Get a Firsthand Review
Reading reviews is great, but there’s no substitute for speaking to someone who’s been there, done that.
Selling your home for cash is a big decision, and needs to be weighed carefully. Ask the company you are dealing with for former clients who have been through the process and would be willing to speak to you.
Before the conversation, think about the key points you want to know so that you can get the reassurance you are looking for.
10. Attend the Viewing
No one knows your property like you. It’s important to be there when the potential cash investor makes a visit to appraise your home.
When you sell your home for cash, investors will be expecting to buy as-is. They’ll need your help to work out what that really means. Avoid the temptation to gloss over major issues.
It will also give you an opportunity to highlight the great features of your home.
Telling them now will save headaches and potential disappointment down the line. The viewing is the ideal time to guide them through that.
The Takeaway To Sell Your Home For Cash
There are many factors to consider to be sure that this is the right option for you. Work through our ten tips and you will be able to proceed with confidence.
If you’re looking to sell your home for cash in the Jacksonville, FL area then make sure you deal with a local name you can trust.
Click here to check out our services and soon you’ll have the cash in your pocket.