While one size does not always fit all and the specific circumstance you are facing, the reason for wanting to sell your home should determine how you go about selling it.
Very few things in life bring more joy and peace to an individual or family than having a place to call home. The fact of the matter is that you need a peaceful environment where you can spend time either alone or with your loved ones while taking a break from those demanding day to day schedules of life. The shelter and protection it provides and the many memories that are often formed within a home are some of the things that attach us to that physical property. Yet, you can never underestimate the inescapable nature of change that sometimes makes it necessary for you to part with that home that you love so much.
What are Your Options When Selling Your Home
Once the decision has been made to sell your home for whatever reason, the question that often follows is usually how to go about the process. Just as buying a property is never a simple process, neither is selling it a straight-forward one either.
Selling the home you have lived in for many years is never easy. It can often be an uphill task as there is often a lot of emotional attachment to the house and memories that you want to keep treasured forever. But, as with all things in life, there will likely come a time to say goodbye to your home and move on. During these moments, the last thing you want is to have to go through a long and complicated process before being able to sell the home that means so much to you.
Typically, there are three options for any homeowner who wants to part with their property:
1. Putting it up for sale as the owner
Also referred to as a For Sale By Owner (FSBO,) This option is a time-demanding process that is never going to be easy, especially if it is the first time you will be selling a house. You have to be invested in every bit of the process from making the house fit for the potential buyers to the marketing and negotiations until you finally close the deal. It is not a path to take if you are not ready for the challenging real estate market and processes that can be quite draining.
2. Selling the home through a real estate agency
Selling a house through a real estate agency is the most common option that most homeowners settle for. This is because they get to delegate the entire task to a team that understands the market and the entire process, and has likely done it numerous times before. Therefore, also, they are likely to have more experience. However, there is a catch to this. For the house to sell you must have it in the best shape possible. As a property owner, this means having to incur home inspection and renovation costs as the traditional homebuyer will almost never buy a property that is not in tip-top condition.
Additionally, you will also have other costs to incur like staging costs, any real estate lawyer fees, property taxes, the real estate agent commissions and a few other costs. This is all besides the fact of needing to wait until a suitable buyer is found.
3. Selling the home to a cash buyer
The final option is to sell the home to a ready cash buyer. Essentially, this is where you opt to sell your house to a home buying company instead of relying on a real estate agent or selling it on your own. A home buying company gives you the advantage of readily available capital, reduced to potentially no wait time to sell, eliminating the need to spend money conducting inspections and repairs, and some of the other costs previously mentioned.
Why should you settle for a cash buyer?
Quite often whenever you need to sell your home, it is usually because of situations that you never anticipated. These could include things like:
- You are facing bankruptcy or foreclosure
- You need to relocate because of work or business
- You are going through a divorce
- You inherited a home, and maintaining it has become a burden
Any of the above scenarios will often mean that you have both cash and time constraints as you may have to complete the sale as quickly as possible. In such circumstances, your best bet may be to sell your home as-is, and finding a cash buyer is often the only way to make this a reality.
Some of the benefits of working with a cash buyer are:
- Avoid the need to incur expensive renovations as the house is sold in its current state. You will not have to go around looking for money to restore the home to its best shape before getting into a negotiation with the cash buyer.
- Go through a stress-free process that does not involve the frustrations of dealing with possibly several potential buyers. A cash buyer will not be there to ‘tour the house’ while comparing it with other options but will be ready to take ownership of the home.
- Get instant cash in a fast closing that does not require you to pay real estate agent commissions and other fees. Once you have an agreement with a cash buyer, you do not have to wait for days on end to receive your money. Instead, the entire process will be fast-tracked, so you get your money within the shortest timeline.
While one size does not always fit all and the specific circumstance you are facing, the reason for wanting to sell your home should determine how you go about selling it. But if your circumstances fit into some of the ones mentioned above, then selling your home as-is to a cash buyer is likely going to be the best option for you.