Did you know that U.S. realtors charge an average commission of 5.49%?
If you plan to sell your home and hire a realtor who changes the amount mentioned above, you’ll pay a commission of $27,450 if your home sells for $500,000. That’s enough to buy a new car or pay school tuition.
Do you want to know how you can cut out the middle man and get your home sold faster?
The answer is to sell to a cash buyer. Keep reading to find out whether you should go with a cash buyer or a realtor.
Financing Issues
If you hire a realtor to help sell your home, the commission check isn’t the only thing you’ll have to consider. When a prospective buyer makes an offer that is contingent on getting financing, you’ll be in wait-and-see mode.
If the would-be buyer doesn’t get approved for financing, the deal will be dead in the water. You’ll have to go back to stage one and wait for another offer. But cash home buyers have the funds and don’t need to apply for financing.
Why get emotionally invested only to have your hopes dashed if a deal derails due to financing problems? It makes sense to sell your home for cash.
Appraisal Issues
Real estate investors who work with real estate agents will have to deal with appraisal issues if they need mortgages. Lenders need to be certain of home valuations before approving mortgage loan requests.
You can skip the appraisal step when you sell to a cash buyer. Such a buyer won’t need financing. So, that person won’t need to appease a lender to qualify for a mortgage loan.
Skipping the appraisal process will allow the deal to close faster. That’s one of the many attractive benefits if you sell your house for cash and skip the realtor.
Deal Closing Issues
Do you want to close a deal sooner rather than later? While there’s nothing wrong with working with realtors, going this route will mean a slower process. Finding a buyer who won’t pay in cash means more steps in the selling process.
When you sell your home for cash, there will be fewer issues to bog down or derail the sale process. A cash buyer will be able to plunk down the money right away — and such a motivated person will want to close the deal asap.
So, you won’t have to dilly-dally and waste precious time waiting for the deal to close. If you don’t want the process to take any longer than it needs to, then sell your home for cash.
Should You Look for a Cash Buyer?
Which should you choose — a realtor or a cash buyer? The choice is yours, of course, but you can see that there are advantages to choosing a cash buyer. You’ll be in the driver’s seat, and the sale process will be less complicated.
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