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5 Reasons Why Cleveland Home Sellers Prefer Cash House Buyers

5 Reasons Why Cleveland Home Sellers Prefer Cash Buyers

If you’re like most homeowners, your first reaction is to list with a real estate agent. After that, you probably start to think about the costs and start to get nervous about the showing process. Cash house buyers are an additional choice that you might not have thought of. Many of these cash house buyers are professional house buyers who purchase houses for a profit. There are several advantages to using this method of selling homes, so it is worthwhile to consider all of your options while keeping reasonable expectations in mind. You might be curious as to why so many homeowners decide to sell to cash house buyers. Read on as we explore some of the reasons why Cleveland home sellers sometimes prefer cash house buyers.

Failed Sales

Putting your property on the market with an agent can really be a stressful time for homeowners. Unfortunately, when you use an agent, you’re putting your property on the market, and you really do not know what is going to happen. The frustration of jumping through all the hoops for a buyer’s mortgage approval just to have their application denied is one reason Cleveland home sellers prefer cash house buyers. Your house may have been off the market for weeks or even months, costing you money. One of the issues with houses sitting on the market that many people do not think about are the holding costs.

If your house does not sell for multiple months, that means you may need to pay utilities, taxes, mortgage, etc. These expenses are called your holding costs and is something that you need to take into account when you are running your numbers to see how much you will keep when you sell your property. If you were to sell your house to a cash house buyer than you can hopefully save yourself some money as these types of buyers may be able to close rather quickly.

Inspection and Appraisal

Another reason why Cleveland house sellers may not want to go with an agent is to avoid the traditional sword of Damocles hanging over their heads. When a traditional home buyer with an agent is interested in your house a inspection is common. When the inspector goes to the house, they are looking for issues that your house has. When the report comes back and the buyer sees it, this is where things can get stressful for the seller. It is commonplace for the buyer to have you make the repairs yourself or try to work you down on price. It is also worth mentioning depending on the type of loan that the buyer is coming with, that the seller maybe required to make the repairs themselves before the property sells.

The next big one is the appraisal, probably one of the other most stressful times for the sale of a house for the homeowner. When the appraiser goes out to the house, they are trying to determine what is the value of this home. What happens if the appraisal amount comes back lower than you expected? Do you still want to sell your house? Do you want to find a new buyer?

One thing that is very important to keep in mind is what type of a buyer do you want? Do you want a buyer with a traditional loan or a professional house buyer who can use cash? With a cash buyer deal the process can be remarkably more straightforward. Imagine not having to deal with the stress of an appraisal for your house. If you have no bank that is in the transaction than that’s one less obstacle in your way of selling your house.

We Buy Houses As-Is

Arguably one of the biggest benefits of working with professional house buyers is the fact that you might be able to sell your house fast in its as-is condition to them. Imagine not having to put money into your house before you sell it and not knowing if you’re going to get that money back. For some homeowners fixing up the house in the first place is a nonstarter because they do not have the money to do it.

However, do not only take into account the money you could save from not doing repairs, but take into account the potential speed of the transaction. If you do not need to do repairs and with cash house buyers, you do not even have to clean up after yourself when you leave in some cases, imagine how much time you’re saving.

It’s important to remember that not having to do renovations doesn’t just potentially save you money. Its saves you time that you’re not paying holding costs such as taxes, utilities and a mortgage. This is something to keep in mind.

No Commissions

Let’s be completely honest, the main reason house sellers try to list their property themselves is to avoid paying real estate commissions. However, many house sellers in Cleveland prefer cash house buyers since they streamline the sales process, save on commissions, marketing, and staging costs, and spare them the hassle and stress of multiple showings. The bottom-line is that your expenses in transaction may be lower. When you sell your house, think about holding costs, commissions, general fees and closing costs. Many things can be negotiated in a transaction so try to find cost savings where you can get it. Dealing with a cash house buyer might be able to lower some of your costs, so make sure to look at all of your options.

We Buy Houses Fast

One of the other strengths that professional house buyers have is that they are often cash house buyers. The speed at which the transaction can close is one of the primary factors as to why Cleveland house sellers prefer cash house buyers. Real estate agents can tell you how long homes like yours often stay on the Cleveland market; but they are unable to provide you a closing date or a guarantee that a buyer will show up. Time is money, particularly when your house is on the market and you’re paying the holding costs such as taxes and utilities. Professional house buyers can frequently close faster than a traditional home buyer with a bank loan. 

Another reason professional house buyers can often close quicker is because they often have many options in terms of how they buy your house. They may use a personal loan, cash, among other types of financing. A typical homeowner is often going to go through the inspection and appraisal process which takes its time. When you have no bank involved, the transaction may be able to close faster.

If you are looking to sell your house fast to a professional home buyer, call Home Relief Providers at (440) 291-5361.

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