Is a Cash Home Sale Worth It?

Selling a home can be an ordeal, even under the best of circumstances. It can be expensive, too, considering the cost of repairs and commission. In certain situations, selling directly to a cash home buying company can be worth it.

Extent of Repairs

To get top dollar on the open market, your home needs to be in great condition. If only a few minor touch-ups are needed, and you’ve built up equity, a traditional home sale might be profitable for you.

However, if your home needs major repairs or updating, you could spend thousands of dollars preparing your home to sell. In this case, a cash home buying company may offer you a better deal by purchasing your home in its current condition. You could come out ahead with a cash offer.

Financial Situation

Many home sellers will turn to a cash home buying company to get out of a tough financial situation. If you’ve lost your job, you’re divorcing, or you’re retiring, you may need to downsize to a less expensive home. Selling to a cash home buying company can quickly relieve you of some financial pressures. 

A cash sale can also help homeowners facing foreclosure. If you’re behind on your mortgage payments, your lender will only give you a few weeks to sell before legal proceedings begin. A cash sale can close within 30 days.

Speed of Sale

If you list your home on the market, it can take several months before you get an offer, and a couple of months after that until you close. A slow sale can be a problem if you need to relocate quickly, or you want to sell in order to buy the home of your dreams. If you leave the home vacant, you still have to pay upkeep until it sells.

A cash home buying company will make you an offer within 24 hours after you contact them. You can sometimes close within a week and almost always within one month. 

Selling to a cash home buying company isn’t for everyone, but if a speedy sale is needed, it’s worth looking into. The cash offer is always made with no obligation on your part, and you never have to pay a commission. Get informed, and weigh your options.

If you’re selling a home in the Dallas area, contact the team at Joe Homebuyer Dallas to see if a cash sale is right for you.

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