Cash Home Sales: Five Suggestions

Posted on: 31 July 2018

Selling a home for cash is a quick way to be finished with a house. If you've already gotten another home or have financial reasons that you need a sale to go through right away, a cash sale is an option. However, you've got to pair yourself with an honest seller who can afford the list price. How?

Know Recent Sales

Setting any price because you hope for a certain amount can delay offers. However, you don't want to accept pennies on the dollar either. For that reason, you need knowledge. Have homes sold in the neighborhood lately? Does the local paper list recent home sales? You need to ensure your own price falls within that range. You may even ask realtors or appraisers to provide you with recent sales and guidance about a good price that will encourage inquiries from buyers.

Avoid Too Many Repairs

Spending your own cash on plumbing, electrical and appliance repairs seems smart. However, many buyers may have their own aims for the property. Buying "as-is" is common and could many times mean a faster sale. However, if you insist on fixes, focus on major problems only. Now isn't the time to beautify the lawn with bushes or redo the entire ground floor bathroom. You can always discuss discounts if a buyer asks. 

Expect Some Negotiations

Most buyers will try to bring down your price before suggesting their own price. This isn't unusual, since everyone wants a reasonable, fair deal. In fact, no haggling could suggest the buyer isn't legitimate and is themselves looking for a fast sale to disguise illegal activities or behaviors.

Know Scammer Qualities

Lack of interest in haggling is just one scammer signal. While there are all kinds of buyers, there will be red flags which should remind you to remain vigilant about selling to a real, reputable person. You have reason to be suspicious of someone who won't speak to you on the phone, for example. If someone doesn't even want to visit the house, that's another time to suspect scam-type behavior. While you may not refuse a seller for a single reason, remain aware that multiple red flags can't be ignored.

Contain Emotions

Your reasons for selling may always seem to be present in your mind. Being overly eager or desperate to sell quickly can lead you to miss things or sell to someone who isn't giving you as much as you want. 

Cash sales can be simple, but you'll need these transaction suggestions. If you're worried that you'll get scammed or feel insecure about handling the sale alone, contact local companies that will sell the home on your behalf.