The Pros and Cons of Selling to Houston Cash Buyers
Houston cash buyers can be saviors for individuals who want to sell their Houston House houses fast or don’t have the time or money to do it the traditional way. There are numerous benefits of selling a home to cash buyers, including house-buying companies, but they come along with a fair share of downsides. So, does it make sense for you to sell to Houston cash buyers like preferredhousebuyers.com? Let us take a closer look at the pros and cons:
You will come across numerous warnings online against selling your property for cash. While it is not always the best option for some homeowners, it can make sense in particular situations. Those who sell their properties for cash are usually experiencing financial hurdles, undergoing a divorce, or have inherited a property. Here are the benefits of dealing with Houston cash buyers:
1. Get Offers Fast
When you first list your property with the MLS, you often wait for months without getting an offer. If time is not a comfort you can afford, then this can be a big issue. Even if you price the home right, you may not get the kind of offer you want right away.
However, if you choose instead to deal with a cash buyer, you will get an offer as fast as 24 hours after reaching out.
2. You Do Not Have to Make Any Repairs
If you cannot afford to make the necessary repairs to the house, or you just frankly do not want to, then selling fast for cash makes sense.
When you sell your house with a real estate agent through MLS, buyers will usually negotiate with you in regards to the necessary repairs. However, these repairs take time and money that you may not have. And depending on the kind of repair work needed, it might even force you to hold the house until the following selling season.
When you sell a property ”as-is”, you are simply selling it exactly as it was when you first put it up for sale.
3. Sell Even in Hard Situations
Sometimes, you face challenging situations that make it hard to sell a home in the traditional manner. If your house has huge amounts of past due fees and taxes, code violations, storm damages, title flaws, or requires major repairs, finding a buyer who requires funding from a lender will be almost impossible.
However, when you take a mortgage out of the equation, it comes way easier to sell your house in these circumstances. Houston cash buyers like us are usually willing to buy houses and put in the money to fix them.
4. No Contingencies
If you decide to sell your home the traditional way, you are likely to face an array of contigencies that come with the sale. This means there are numerous little ways that a home sale can fall through along the way.
While there are advantages to dealing with Houston cash buyers, there are also several downsides:
1. Offers are Usually Lower
If you’re more interested in getting as much money as possible from a house sale, vs. having a quick sale, then selling for cash is not the best option. When house-buying companies purchase properties, they are doing so to make profits by renting them out or reselling for a larger price. After all, they are called real estate investors for a reason.
2. Home Repairs & Improvements will be Deducted from the Price
It is great that you do not have to make any repairs when selling to Houston cash buyers, but this does not mean it will not cost you. House buying companies will factor in the cost of the repairs in their offers, meaning they will make a low-ball offer and then deduct the projected cost of repairs.
3. There is No Guarantee the Sale Will Go Through
Yes, not much can go wrong with a cash sale, but in this world, nothing is guaranteed. Until all the documents have been signed and have the money in your hands, the home sale could still fall through.
4. There is Less Competition
In the conventional housing market, there can be fair competition. However, when dealing with ‘we buy houses’ companies and other investors, the buyers tend to have more leverage. This means you often have a ‘take it or leave it’ offer, which can make you feel like you don’t have other options.
There are many reasons to sell your home to cash buyers, but it is imperative to determine whether it is the best option. You may want to consult a professional like a real estate agent to determine what makes sense in your situation.
at Preferredhousebuyers We Buy Houses In Houston and we purchase homes all the time in Houston for cash, with the convenience of a fast sale. If you would like to get more information in this regard, do not hesitate to reach out via email or phone call. Sell your Houston house fast for cash today!