According to the National Association of Realtors, 5.64 million houses were sold in 2020. But for all the hype surrounding the “seller’s market”, nobody ever talks about how much work goes into selling a house.
You need to stage. You need to clean. You need to do all the little repairs that will make people want to buy your home.
And, even then, there’s no guarantee that the house will sell quickly. Or at least that’s what conventional wisdom would have you believe.
In practice, however, there’s another option at your disposal. You can sell your house as-is.
Interested? We’ve put together a list of eight reasons why you should consider selling your home. Keep reading to find out more.
1. You Can Sell Faster
Let’s face facts. Prepping and selling a house is often a time-consuming endeavor. And when you’re splitting assets in the wake of a divorce or heading to another state, time is a luxury that you don’t always have.
When you sell your house as-is, you don’t have to spend time getting it ready for buyers. In addition, many cash buyers will extend offers even if you don’t have:
- A home inspection report
- An appraisal
- An insurable property
Whether you’re in a hurry to leave town, you’re avoiding foreclosure, or you’ve inherited a home that you have no use for, selling as-is can allow you to sell your property in record time.
2. Avoid Red Tape
Some people love urban penthouse suites. Others are into character homes or ranch-style houses. Regardless of where you happen to fall on the spectrum, however, there’s one thing that all homeowners, homebuyers, and real estate professionals can agree on:
Selling a house is a process.
First, the buyer has to make an offer. Then, the seller has to accept or reject it. And even after the general price has been agreed upon, there’s an additional song and dance that goes into the negotiations.
It’s a lot.
And once the bank and the lawyers get involved, the sale gets even more confusing from there.
Would you like to sell your home without going through all of that? Sell it as-is for cash.
3. Save Money on Repairs
According to PolicyMap, Americans would need $126.9 billion to repair their houses. In the same research paper, the organization noted that 1 in 20 homes was in need of repairs over $5,000.
If you’re like many Americans, you might not have a few thousand dollars sitting in the bank to put towards repairs. And even if you do, that money could go a long way towards helping you relocate.
When you’re selling your home as-is, you don’t have to put any money towards cleaning or repairs. This means that you can walk away from the sale with a little more money in your pocket.
4. Avoid Stress
It’s been estimated that 36 percent of American adults cried due to the stress involved with selling their homes. Many of these folks had planned weddings, lost jobs, and become parents — and they still thought seller stress was the worst kind of stress.
What exactly about selling a house was driving these grown adults to tears? A lot of the stress was related to the uncertainty around making the sale.
Was the house going to sell for a reasonable price? Were the renovations still doable? Would the house sell on time?
This is just the tip of the stress-inducing iceberg for home sellers. If you’ve got an outstanding mortgage or you’re paying backtaxes, the wrong selling price could leave you in serious debt. For individuals who are moving to another state or purchasing another home, a delayed sale could leave them saddled with the responsibility of paying for two mortgages.
When you decide to sell your house as-is, you don’t have to worry about these issues. Why? Because the renovations are being handled by someone else and the sale can be closed in as little as 7 days.
It just doesn’t get any more stress-free than that.
5. Save on Realtor Commission
When you’ve got six figures on the line, it pays to ensure that your home sale is done right. Because, really, who wants to be the last house that’s not selling in a seller’s market?
Some homeowners learn everything they can about marketing and selling a home. But given a choice between learning the real estate process and hiring a professional who knows how to position a house for maximum impact, most people choose to work with a realtor.
That being said, real estate professionals don’t work for free. Commissions can be anywhere from four to six percent of the final sale value.
If you polled ten home sellers, all of them would expect to pay the seller agent’s commission. But did you know that sellers often cover the buyer agent’s commission as well?
Assuming the house sells for $250,000, that’s a full $10,000 on the lower end.
When you sell your house as-is, you’re likely selling to a real estate investor. Because buyers like us don’t use realtors and you don’t need one to receive a cash offer, you can sell without having to pay for a real estate agent.
6. Skip the Marketing
In the world of advertising, there’s an infamous saying:
You have to sell the sizzle to sell the steak.
Selling a house is no different — if you want buyers to book walkthroughs, make offers, and start a bidding war, you have to market your home correctly.
This means writing a listing that makes buyers fall in love with the property before they set foot in it. This means taking flattering, high-quality photos. And, with 97 percent of home buyers using the internet to find properties, you’ll also need to place your home in an attractive price bracket.
But even after your listing is seeing traffic and leading to bookings, your marketing-related duties don’t stop there. You have to convince potential buyers that your house is move-in ready. And if your late great uncle made a bunch of DIY roof repairs or your kids left a hole in the kitchen wall, you’ll have to put that much more energy into showcasing the strengths of your property.
To be clear, every house will have its pluses and minuses. Maybe it’s located in an amazing school district or perhaps you’ve got two bathrooms in an area where one-and-a-half is the norm. Either way, however, the constant spin can be exhausting.
Selling a house as-is means that you can drop the sales angle and focus on what matters — relocating safely and getting paid on your way out.
7. No Closing Costs
In the first half of 2021, average closing costs for family homes added up to $6,837.
Where are all these costs coming from? A variety of post-sale expenses that include survey costs, appraisal fees, legal fees, and taxes. And while a few thousand dollars here and there might not seem like much in a six-figure sale, these expenses can add up quick.
A lot of sellers think that they want to sell their houses for the highest price possible. But that’s not strictly true. What sellers actually want is the highest amount of profit possible.
Here’s what we mean:
Your house could sell for $350,000. But if you’ve spent over $6,000 on closing costs, $14,000 on real estate commission, $6,000 on staging, and another $5,000 on repairs and upgrades, you could be leaving the transaction with quite a bit less profit than the final sticker price would suggest. This becomes especially important if you’ve got an outstanding mortgage on the property.
Meanwhile, you could sell the same house as-is for $320,000, and make a more profitable sale while doing a lot less work. Not having to pay closing costs is a benefit that can quite literally pay for itself.
8. No Risk of Cold Feet
Every real estate agent has a cold feet story.
The buyer saw the listing and booked a walkthrough. They fell in love with the property and made an offer. Then after some back and forth, a final price was agreed upon.
Or at least, that’s what everyone thought.
A couple weeks later, however, the buyer rescinds their offer.
Maybe the inspection report revealed significantly more repairs than expected. Maybe the loan didn’t go through. Maybe the buyer simply found another house they liked better.
But either way, the end result is the same:
The seller is back at square one. And to make matters worse, if they’re on a deadline, they’re stuck trying to sell the house within an even shorter timeframe.
Typically, this isn’t a risk when you’ve received an offer from a cash home buyer. Our company, for instance, has an end-to-end process that involves an assessment, an offer, and a close. Once we’ve made you an offer, we’re not going to get cold feet.
In addition, because we buy homes in cash, you don’t have to worry about insurance refusals or lenders making conditional offers. When we make an offer, we’ll stick to it.
Where Can You Find Cash Buyers?
Let’s say that you’ve read through this list of benefits. And now you’re 100-percent certain that you want to sell your property for cash. What can you do to attract cash buyers?
Here’s a quick rundown of your two main options:
1. The Traditional Process
As remote work has become increasingly more accepted, working professionals have been snapping up houses in pretty much all markets. So much so that all-cash offers accounted for 36 percent of real estate offers for parts of 2020.
The process for capturing these buyers is simple. Put up your listing, follow all the usual steps, and specify that you’re looking for a cash buyer where possible.
This can work in your favor. Even so, however, this is a strategy that has the potential to backfire.
For starters, there are no guarantees that a cash buyer will be in the market when you put up your listing. Cash offers are more common in some real estate markets than in others. As a result, restricting yourself to cash buyers could leave your house sitting on the market for a longer period of time than necessary.
In addition, although cash buyers are associated with faster sales processes and freedom from lender conditions, there is still a chance that your buyer will back out of the deal or will otherwise expect the property to be move-in ready.
If you’ve got a luxury penthouse in a desirable neighborhood, you can name any stipulation you want and still get the sale. But for houses that are old or dealing with issues of structural integrity, however, this type of cash buyer may choose to pass on the property.
2. Professional Cash Buyers
Along with the cash buyers who are basically future homeowners with a lot of cash on hand, there’s another category of buyer worth considering:
A real estate investment professional.
We purchase Colorado homes through a well-established process. When a seller requests an offer from us, we do our research. And then once that offer has been extended, you can count on us to follow through.
Whether you’re disposing of marital property or accepting your dream job in a far-flung location, we can put cash in your bank account in less time than you might think. Check out our comparison chart to see how selling to us compares to your other real estate alternatives.
Here’s Why You Should Sell Your House As-Is
When the real estate market is red-hot, it feels like all you have to do is throw up a listing and get an instant sale. But what a lot of people don’t talk about is the effort that goes into making a top-notch listing.
However, if you don’t have a lot of time or money on your hands, you can simply sell your house as-is.
You won’t have to cover the cost of cleanup and repairs. You won’t have to worry about booking walkthroughs while relocating. And, most importantly, we close fast.
Do you want to sell your home within the next week? Get your cash offer today.