Selling your house is a big job: you have to find the right agent, get the property market-ready, and invest a lot of money into repairs and updates. If you’re in the process of relocation, this task might take up too much of your time and money, and you may look into other options, such as selling your house to a cash homebuyer. Here is a quick and easy list of pros and cons to selling your house to a cash homebuyer so you can figure out the best selling method for relocation.
Cons of selling your house to a cash homebuyer during relocation
Let’s start with the ways that selling your house to a cash homebuyer can be negative. One of the biggest reasons that people sell to cash homebuyers is to offload burdensome properties quickly and easily, which is true of homeowners in the process of relocation who are looking to sell and move on. However, it is important that you walk into any sale with a full understanding of the situation, including any challenges you might face.
1. Lower Selling Price
The biggest negative to selling to a cash homebuyer is that there will likely be a lower selling price. This is because cash homebuyers make offers on properties as-is. When selling your house as-is, you do not repair or update the house to bring it to its fullest market value. For example, if you invested in new flooring, fresh paint, and renovating bathrooms, your property would list for a higher price than it would if it were slightly outdated and had normal wear and tear.
However, by avoiding repairs and listing as-is, you do get to save the time and money in order to move forward with your relocation plans more quickly. It’s up to your judgement to decide which option is better for your situation: making repairs and getting a higher selling price or avoiding repairs and getting a lower selling price and a quicker closing.
2. Potential Scams
One way to ensure you get a fair offer when selling your house to a cash homebuyer is to be aware of any potential scams – the last thing you want is for your relocation to get held up because a scummy business took advantage of your situation. Before you request an offer from a company, it’s always smart to do a bit of research. Check out the company’s reviews from previous customers, see if they are an accredited business, and look up their Google Business profile. These are good indicators of legitimate, up-front business dealings, and they usually show you that the company actually has the funds and the resources to close the sale. It’s also a good sign if you can get someone on the phone to answer any questions that you have about their buying process and business model. It can give you peace of mind to talk to an actual person instead of simply taking a website’s word for it.
Above all, be aware of your rights as a seller:
- Do not agree on a closing where there is not a Georgia legal professional present
- Do not make any kind of deposit in exchange for an offer
- Do not provide any personal information that is not required for a real estate transaction
Remember that, at most, requesting an offer requires you to provide information about your home and situation, and the buyer may arrange an in-person showing in order to view the house and directly answer any of your questions. You should not be asked to make a deposit or sign any contract until the closing, and the buyer’s fair offer should be no-obligation, meaning that you are free to accept or reject it. Holding buyers to this criteria is the best way to achieve a quick and easy sale so your relocation plans are not slowed.
Pros to selling your house to a cash homebuyer during relocation
In spite of these difficulties that can come with selling to a cash buyer, there are also benefits to this selling method that are valuable to homeowners dealing with relocation. As long as you are aware of and prepared to handle the cons listed above, the time and money you can save by selling your house to a cash homebuyer might make that option the best decision for your relocation plans.
1. Sell as-is
One of the largest benefits of selling to a cash homebuyer during relocation is that you don’t have to spend time and money on making repairs. Getting your house market-ready is no small task, and depending on the condition of your property, it can take months to handle repairs, updates, decluttering, and deep cleaning. Realtor.com estimates that the time spent on getting a Georgia property market-ready can average from two weeks to several months, and Clever estimates that the average cost of repairs to be around $7,628.
If you’re not looking to dedicate your weekends on home improvement projects or to spend hundreds to thousands of dollars on supplies and professional labor, selling as-is to a cash homebuyer offers a quicker, less costly solution. In fact, most cash-buyers operate on a “take what you want, leave the rest” basis, so you can literally move on with your relocation without worrying about any updates, cleaning, or decluttering.
2. No additional fees or commissions
Relocation can be expensive, so you may be looking for good ways to cut costs while selling your house. Luckily, cash homebuyers operate without charging additional fees or commissions. When you request an offer from a cash homebuyer, their offer is made for free, and you are under no obligation to accept it. This allows you to avoid paying realtor fees, which can cost around 2-3% of your home’s selling price. You can also bypass paying any closing costs, which will be totally handled by the cash homebuyer.
3. Cash payment
Moving money around can be one of the most time-consuming parts of closing on your home. Even if you accept an offer from a buyer who is pre-approved for a loan, there can be contingencies in place that complicate their financing and stall the sale. Luckily, cash homebuyers allow you to avoid this because they buy houses completely in cash. You don’t have to worry about bank financing or contingencies causing the sale fall through because the buyer is making a offer that they are prepared to pay you 100% in cash. On top of allowing you to move forward with the sale more promptly, you also get to walk away from the closing with cash in your hand.
4. More flexibility
The traditional selling process of listing with an agent doesn’t usually give you a lot of flexibility. You work on your agent’s schedule and terms, and you have to wait on things like appraisals, inspections, and offers from buyers. In other words, the process is controlled by the schedules of other people. When you are in the process of relocation, this can be a huge inconvenience. Selling to a cash homebuyer is different: you approach the buyer that you choose, and you can work with the buyer to set your own terms and schedule. This allows you to ensure that the process goes smoothly for your situation. Additionally, because you do not have to wait long for offers from several different buyers, you can often close on your house within a significantly shorter time period, often within as little as 2 weeks.
Summary
No matter your situation, it’s important that you learn as much as possible for the different options available when selling your house during relocation. If you’re considering selling to a cash homebuyer, make sure you remain aware of both the pros and cons of that option so you can select the best way to have a stress-free sale and a hassle-free relocation.
Here’s How We Can Help!
If you are trying to sell your house in Georgia during relocation, you can sell to We Buy Houses In West Georgia today. We make fair cash offers on local houses in the West Georgia area. When we buy your house, you don’t have to worry about the traditional delays of selling. Our buying process is designed to help Georgia homeowners sell burdensome properties fast.
- Don’t worry about making repairs, decluttering, or even cleaning
- Avoid commissioning a Georgia realtor to list your property
- Bypass paying closing costs or any additional fees
- Quickly collect the proceeds from the sale and move on
If you want to learn more about how we can help you sell your house during relocation, we invite you to visit our How It Works page. Here, we offer full transparency about our homebuying process, including details about exactly how we calculate our offers. You can also check out Our Company page to get to know our team, our credentials, and our experience. Fill out the form below to get a no-obligation cash offer started now!