Why do sellers prefer cash house buyers?

Are you like most homeowners and are worried about the duration and effort it takes just to get your home prepared to sell? Maybe you’re unsure if you’ll hire the right real estate agent or have your home market ready when you need it to be. Are you worried about the possibility of the sale taking months and months to finalize? These reasons, and many others, are why sellers prefer cash house buyers to purchase their homes. 

But why is selling your home to a cash house buyer often better? In this article we will outline six main reasons sellers should consider working with a reputable cash house buying company. Let us be frank, selling to a cash house buyer is not for everyone. People who sell their homes to private home buyers or cash house buyers are typically under financial stress, need to sell their home as fast as possible and do not want to spend one more penny on their house. 

So keep these things in mind as we answer the question, “why do sellers prefer cash house buyers?”

Why do sellers prefer cash house buyers?

There are many reasons why sellers prefer cash house buyers. The quick process, ease of transaction, money in their pockets fast and not dealing with renovations or repairs before listing their home on the MLS. The biggest reason is the fact that cash house buyers can close on properties fast without much effort on the part of the seller. During the quick closing process, there are not many factors that can derail the sale. We are going to break down each of the main reasons why sellers prefer cash house buyers when they need to sell a property quickly. 

Reason #1—Speed of the sale

This is the most common reason that sellers prefer to sell their homes to a cash house buyer. As mentioned above, sellers who need to sell their home, a rental property or an inherited home quickly, often sell to a cash house buyer. After an offer has been accepted, cash house buyers typically can close on a property in under 14 days. 

Using a real estate agent and listing your home on the MLS usually takes 30-90 days to close. Cash house buyers are not constrained by banks, lenders or multiple buyers timelines. A legitimate cash house buyer will have proof of funds upfront and be able to close on the sellers timeline. In our experience, we’ve closed on homes in as little as five days. Speed to close is the number one reason sellers prefer cash home buyers

Reason #2—No need to complete repairs

One of the major obstacles for homeowners to overcome before selling their home on the market is completing all the necessary and expensive renovations, repairs or upgrades. How does this affect the seller? First, the money required to make all of those renovations comes directly out of the bank account of the seller. According to this article written in May of this year, home renovations costs are on the rise and materials are hard to come by. Second, it takes time to complete all of those repairs. In that time the seller will be forced to continue to pay their mortgage and all their bills.

When you sell your home to a cash house buyer, you do not need to start or complete ANY renovations. Let’s repeat that. You will not have to complete any home renovations at all. Cash house buyers prefer to buy the home As-Is, which is jargon for in its current condition. In fact, the worse off the better. 

Reason #3—Less stress during the sale of the home

You now know that selling your home to a cash house buyer is quick. But did you know that it also comes with significantly less stress. There is zero waiting around for the arduous underwriting process. You save money by not having to complete any repairs. Your blood pressure will not go up as you wait for your credit score to be discovered. The process is so simple and fast, that stress won’t even have a chance to surface. A professional cash home or private home buyer will guide you through each step of the buying process. When you work with us, we even pay the legal fees and help you figure out the next steps in your living situation. 

Reason #4—Skip the marketing and home walkthroughs

Each home sale is different. In the traditional route of selling your home, there will always be the need to market your home. This costs you money. Hiring a professional photographer, listing your home on the MLS and the cost of your real estate agent. When you sell your home to a cash house buyer, all the marketing time and money go out the window. Again, another benefit of selling your home to a cash house or private home buyer.

There is no need to schedule multiple, inconvenient, home showings or walkthroughs. This, we are told, is the most annoying part of selling your home in the traditional route. A cash house buyer only needs ONE walkthrough and they will be able to give you an all-cash offer for your home in under 24 hours. 

Reason #5—Guaranteed Closing

In Ontario today, it takes on average 30-90 days to close on a house, IF it closes at all. If you list your home on the MLS, there is no guarantee that it will close. Most  cash house house buyers have the ability and the funds to buy your house now. Unlike other buyers, we GUARANTEE that we will buy your home as-is everytime. That is something that you won’t get with most other cash house buyers. We buy houses and our process is simple and stress-free. 

Reason #6— Money in hand of seller faster

Last but not least is the fact that selling your home to a cash house buyer will get money into your hand faster than any other selling process. On the day of closing, the buyer will write you a check for the exact amount in the contract. No hidden fees or commissions. If you agreed to sell your home to the cash house buyer for $400,000, you will get a check for exactly $400,000. There is no waiting to get the money from the sale of your home. It happens on the day of closing which, if you remember, can happen in under 14 days. 

To wrap things up

Hopefully you have seen the major advantages of selling your home to a cash house buyer, like us. Not only can we buy your house quickly, we GUARANTEE to buy your house no matter the current condition it is in. As you’ve read, there are major advantages to selling your home to a cash house or private home buyer. We’ll be the first company to tell you that selling to a cash house buyer is not for everyone. If you need to quickly sell your home, or your home needs major repairs or you’re trying to get out of a financial situation, then selling to a cash house buyer is the best solution. If you’re ready to start the process or even explore this option in greater detail, give us a call today at 905-260-9779. If you’d prefer to fill out some basic info and be reached via email to receive your no obligation quote, hop on over here.