You can liken accepting a cash offer on a home to trading in a car. You won’t get 100% of the value on your home when accepting a cash offer, typically it will be closer to 80% or 85% of the true value of your home.
There are many situations when this tradeoff may be beneficial. For estate sales or estate homes, accepting cash offers can make the home easier to sell. You won’t need to get the home ready for showings, or get an appraisal, or deal with the time-consuming factors that are needed to list and sell a home traditionally.
For any home in which the sale will be split multiple ways, or when increased time and travel would be needed to prepare and list a home, a cash offer may be attractive to sellers.
616 Realty works with sellers looking for a cash offer. When we come out to the home to see it, besides preparing a cash offer for the home, we can also let you know how much the home could be worth and the market value if 616 Realty were to help you market, list, and sell the home.
Sometimes the difference between a cash offer value and this prospective home value may be enough to consider listing the home traditionally and selling it to a buyer with bank financing. Sometimes, cash simply isn’t the best way to go.
The ease of closing on the home with a cash buyer can be attractive to sellers
It’s easier to sell the home without appraisals and listings when you’re accepting cash offers
QUESTIONS TO ASK YOURSELF AS A SELLER CONSIDERING A CASH OFFER:
Are you comfortable taking cash over a conventional offer, knowing it may be appraised higher than the cash offers you’re getting?
Do you have a hard closing date requirement?
Have you had an inspection yet, and if so, are you concerned about repairs or updates needed before selling conventionally?
See what a cash buyer will pay for your home.
Call us for a free, no-obligation evaluation of your home.