Purchasing a home is oftentimes one of the most pivotal decisions that a person or a family will make in their lives. As important as buying a home is, selling a home is equally important. There are pros and cons of hiring a realtor and listing your home for sale, but if you do not want to pay a fee, hassle back and forth with buyers, or deal with strangers constantly attending open houses in your home, then you may want to strongly consider selling your home to an all-cash buyer.
Reason #1 – All the Money!!!
When selling to an all-cash buyer you get to keep all of the money from the sale. If you hire a listing agent there are fees and closing costs that are involved with a traditional sale. An experienced listing agent will most likely charge 6 percent of the sale price. This means that if you sell your home for 300k and owe 220k on your mortgage, your net profit would be 80k, and a realtor fee would be 6% from the 300k and not the net profit. So to summarize, you would have to pay 18k for the realtor fee out of your 80k profit and that is not including closing costs.
Reason #2 – Sell up to 20x Faster
Agents can have multiple clients, and as a result, your home may not get the proper amount of attention that it needs in order to get sold. This could delay the process if your agent is not focused and totally dedicated to selling your home. Hence, up to 20x faster because in some instances a house can sit on the market for 300 days, and with an all-cash buyer can close in as quickly as 2 weeks!
Reason #3 – Sell your Home As-is
If you have an older home that is in need of repair, an all-cash buyer will not require you to make those repairs before the sale of the home. The all-cash buyer will simply make you an offer based on the as-is condition factoring in the rehab cost that they will have to incur. You will not have to pay for staging the property for showings and even if the property needs a complete gut renovation you would still be able to get an offer.
Reason #4 – Sales will close
There are several instances when dealing with a buyer that is depending on a loan, and the deal falls apart at the closing table. Or if the buyer’s agent is not willing to get on the same page with your agent and the deal falls apart for that reason. With an all cash buyer this will not be the case as there are no third parties involved.
Reason #5 – Unload a burden
Many homeowners have been indebted with properties that they received as a result of an untimely family member’s passing. Having to maintain and keep up with the cost of that home could become an unwelcome burden, and an all cash buyer is a great opportunity to offload that property as soon as possible. Also there are landlords who for numerous reasons may decide that they are tired of managing tenants and wish to sell the property.
Overall, there are several benefits to selling your home to an all cash buyer. Leverage Companies is one of the fastest growing real estate investment firms in NJ. We buy all types of properties and have the ability and resources to close quickly. As a result of the changes in our industry that stem from COVID-19, we have also conducted virtual acquisitions to protect the safety of our employees and potential home sellers. Get in touch with one of our team members today by contacting us at https://leveragecompanies.com/.