There are several ways in which one can sell your house for cash; however, if you plan on selling your house using a cash buyer, there are some things that you should keep in mind. You should keep in mind that when you’re dealing with an individual or private cash buyer who isn’t tied to any particular real estate agency, it may be a difficult situation for you. Independent cash buyers usually offer 60% to ninety% of the property’s total value to negotiate, thus, with each sell home for cash transaction, nearly thirty to 35% of the property’s market value normally goes out-of-hand.
This may be difficult for you to accept, but there are also a number of other things that you should consider before you decide to sell your house for cash. A potential buyer, who may have an interest in purchasing your home, and may even require you to sell your house for cash, should first make a determination as to the overall condition of your house, including any repairs that might need to be made. A qualified buyer, who purchases a distressed property, can evaluate the condition of your house without having to worry about going into a sellers-financing situation; in most cases, the buyer will purchase the property as-is, thus, avoiding any fees.
One other important thing that you should do before you sell your house for cash is to make repairs and updates to the home. If you’re selling your house fast, especially if you’re dealing with a buyer, who might be interested in purchasing your home quickly and without having to pay for repairs, a simple, “Whew, I fixed that” statement can be all that separates you from being a buyer’s agent. As time goes on, and as your home becomes more attractive to buyers, you will be able to increase your asking price and negotiate additional terms regarding the purchase of your home. Good luck, and happy purchasing!