>> Jul 28, 2016
Most commonly, people buy houses in the traditional way of hiring a realtor and putting their house on market, so that a buyer could offer a price and the sale goes down smoothly. Even though this process is traditional and most commonly adapted, there is another way to sell your house.
Usually people sell their houses off the market in cash. In this situation, you do not have to hire a realtor and basically you are not putting up your house in the market. The buyer will be able to sell the house in cash in no time.
Advantages of selling the house in cash –
There are many advantages of selling your house in cash. People who are looking to sell their house as quickly as possible for any reason like avoiding foreclosure, bankruptcy, divorce, paying off unexpected medical bills etc. should benefit the most from this way of sale. The sale is completed in just few days. As a seller you can get the entire payment in just few days after the contract is finalized.
Another benefit of selling your house for cash is the convenience of the seller. Going on with the traditional method of making a sale will require the seller to make repairs and changes so that it is attractive and considerable for the possible buyer. In case of cash sale the seller can sell the house in the present condition. All the repairs and replacements are the buyer’s responsibility.
Sale of the house in cash is simple and hassle free. You can easily go on with our life without being disturbed by possible buyers all day long. Buyers only require seeing the house once or twice before it is finalized and the payment is made.
Disadvantages of selling the house in cash –
Like every other thing, selling a house in cash also has some downsides to it. One of the main disadvantages of selling your house for cash is the price of the house. Basically, you are not putting your house in the market, and so you already eliminate many buyers in the list. Secondly, the immediate need for transaction in cash lowers the value of the property. When you put up your house in market, it is showcased well to attract buyers, but in case of a cash transaction, it is bought in the same condition as it is.
As a homeowner, you should know the approximate price of your house. If you are unaware of the value of your house, then there are chances that you might fall into the prey of some dishonest buyers, who will try to make a deal that will be profitable for them and a loss for you. Most commonly, cash sale only gets you about 70 - 80% of the actual value of the house. Make sure you are aware about your house worth and look out for fraud buyers.
If you are planning to sell houses in the Inland Empire you should consider both the options available.