The 5 Advantages of a Cash Offer on Your House

Selling a house is a process. That’s why there’s such a huge industry devoted to helping you do it. As you explore the different ways you can go about selling the home, you’ll want to take a moment to learn about cash offers. They change the entire nature of the game, and understanding this option could make all the difference in the world. Here are the top 5 advantages of a cash offer on your house:

1. Simplicity

One of the top reasons to accept a cash offer is that the process is much, much simpler. When a buyer is paying cash, there is no mortgage application. Banks aren’t involved at all, and that provides you and the buyer a lot more freedom in how you conduct business.

On top of that, cash buyers are real estate investors. That means they know the industry. It also means that in many cases, they’re making a cash offer independent of any listings. In fact, you can seek out real estate investors and ask them to appraise your house and make you an offer. No brokerage, realtor, or official listing is necessary at all. To call it a simplified process is an understatement.

2. Speed

A simpler process can be a faster process when you need it to be. One of the top reasons to seek out a cash offer on your house is to move the property quickly. Sometimes, this happens when you get a new job and have to move in a hurry. The saved time is invaluable.

Other times in which speed is important are when there is unexpected damage to a house. If you find that insurance isn’t going to make repairs worth your while, getting out of the property and into a new one can be the most economical decision.

Foreclosure is the other big factor. It’s not fun, but it does happen. One of the most reliable ways to avoid foreclosure is to sell your house, and a cash offer can complete the transaction in time for you to prevent the situation from destroying your credit or putting you in a difficult financial situation.

3. Security

When someone makes a cash offer on a house, they’re making a powerful statement. Their commitment to buying isn’t contingent on a bank approving a loan or any third parties. They’re offering to buy the house outright and as-is. 

This is doubly true when you go through a property investor. They know the business. They’re making you an offer because they already have a plan for the home. They won’t be shy. They won’t be scared. If you accept their cash offer, they’ll close. If you turn it down, they’ll move on. The certainty is important, especially in many of the cases you’ve already read.

4. Less Hassle

One of the hardest parts of selling a home is negotiating contingencies. Buyers will fight with you about fixing this thing or replacing that. There’s a bunch of nitpicking that occurs, and it adds delays and frustrations to the whole process.

In general, a cash offer is already reflecting an assessment of the house and any work it might need. The investor calculated what they’ll have to do to the home when they made you the offer. It negates the needs for most contingencies. Typically, they’ll only arise if something significant changes with the property between their initial offer and closing.

5. No Closing Costs

Even with a cash sale, you have to exchange a title. This means employing a title company to do the legal filing. When a lender is involved, they’ll usually push both parties to use their preferred company. When they’re out of the equation, you’re free to shop around and get the best deal possible. You can do this with a few elements of closing, and it can lower closing costs considerably.

On top of that, many cash buyers will handle closing themselves. They’re good at it, and they can factor closing costs into the offer, making things that much easier.

If you want to explore selling your house for cash, contact We Buy Houses Oklahoma. You can get a no-commitment offer and see how you feel about the prospect of selling the house for cash.