What To Expect When You Sell House For Cash

You’ve seen the ads – We Pay Cash For Houses, or Cash Offer For Your Home in 24 Hours!  What’s the deal you can expect to hear when you want to sell house for cash?

As you can expect, if you’re selling your house for cash, you’re talking to buyers who are looking for a deal.  They are not going to pay market price, but these buyers are looking for special sellers: Sellers who need to sell property fast, sellers who have to get out from under their mortgage immediately.  These buyers are looking for that needle in a haystack seller who is willing to just wash their hands of the house and do what is necessary to sell house fast.

The house buyers who pay cash for houses usually want to know that there are no extra details to work with – just the owner of the home who has hopefully some equity, or a bank that’s willing to work with them to get the house sold as a short sale.  You will see their we buy houses ads on televsion and billboards.  A short sale is when the mortgage holder agrees to a discount on what they’re owed so they don’t have to foreclose and wind up with a property they can’t sell sitting on their books.

Sellers who need sell a house quick for cash right away, such as folks trying to sell after a death in the family to settle an estate, or homes that need too much work for the usual retail buyers, are the kinds of sellers that can sell house quick for cash.  Sellers who also can qualify have homes where they may be facing foreclosure, but still have some equity in the home, and are unable to refinance for credit reasons.  These folks don’t want a foreclosure on their head, but they can’t wait months and months to sell their home either.  If they want cash within a week or two, they can get it from these cash buyers.

The important thing to remember when trying to sell house for cash is that you must be flexible with these buyers, they are not going to pay your asking price, and they are not going to pay the full market price of the home.  These buyers are investors, and they have to work out the numbers any time they buy home for cash in order to make sure it’s a financial deal worth doing for them.  Their low offers are not personal, not a critique of your property, but just a hard business decision, based on the returns these investors need.