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Why Consider a Cash Offer On Your Home?

Sellers often consider cash offers for a number or reasons: speed and convenience, certainty and assurance, avoiding repairs and renovations, privacy and discretion, and financial flexibility.
Time

Speed & Convenience

Selling a home through traditional methods, such as listing it on the market, can be a time-consuming and complex process. It typically involves various steps like staging, open houses, negotiations, and potential contingencies. Opting for a cash offer allows homeowners to bypass these steps and complete the sale more quickly. Cash buyers are often investors or companies that specialize in buying properties directly, which streamlines the transaction and eliminates the need for lengthy negotiations or waiting for mortgage approvals.

Certainty & Assurance

Cash offers provide a higher level of certainty and assurance for sellers. When a buyer pays in cash, there is no reliance on financing or mortgage approval, reducing the risk of the deal falling through due to the buyer’s inability to secure a loan. This can be particularly appealing for homeowners who need to sell quickly or who have encountered challenges with previous buyers’ financing in the past.

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Home Repairs

Avoid Repairs and Renovations

Selling a home on the market often involves preparing the property for potential buyers, which may require repairs, renovations, or upgrades. For homeowners who want to avoid the time, effort, and cost associated with these preparations, a cash offer can be an attractive option. Cash buyers typically purchase properties as-is, relieving the seller of the responsibility of making repairs or improvements.

Privacy and Discretion

Some homeowners prefer to keep the sale of their property private and avoid the public exposure that comes with listing a home on the market. Cash offers allow for a more discreet transaction, as they often involve private investors or companies that prioritize confidentiality.

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Financial Flexibility

Accepting a cash offer can provide sellers with immediate access to funds. This can be beneficial in situations where the homeowner needs to relocate quickly, settle debts, handle unexpected expenses, or take advantage of other investment opportunities. Cash offers can offer financial flexibility and a quicker resolution for those who require immediate liquidity.

The True Cost of Selling a Home

All too often, people are shown a price their home will sell for without factoring in the actual costs of selling a home the traditional way. 


Below are the costs associated with each home selling strategy

Traditional Sale

Realtor Commissions

Professional Photography

Home Staging

Home Cleaning

Advertising

Repairs/Renovations

Closing Costs

Holding Costs

Cash Sale

None

Fun Fact: The average cost to sell a home traditionally comes out to around 10% of the homes value. 

For a $300k home, that comes out to around $30k (with half of that going to the agent(s)).

What About Timeline?

Selling a home traditionally is not a quick process. Between the prep-work, time on market, and closing, the entire process can take months from when you first start.

Traditional Sale

Home Prep | 7 -14 days

Coming Soon | 0 -10 days

Listing Active | 25 days on average

Closing | 45 days on average

Total time to close = 77 – 94 days (~2 – 3 months)

Cash Sale

House Assessment | 1 – 5 days

Closing | 14 days

Total time to close = 15 – 19 days