10 Reasons You Should Sell Your House for Cash Yourself 2021
Selling your property as is by owner can seem like a risky endeavor. However there are countless reasons why that might make perfect sense for you. Read on to explore how selling your house by yourself in 2021 can empower you.
Both home sale prices and home sales are on track to hit record highs in 2021. Home sales are predicted to rise by seven percent, with price increases not far behind at around six percent higher than last year.
With unprecedentedly low-interest rates available to buyers and limited housing stock, it's a seller's market. But not all methods of selling your home are created equal.
Here are the top 10 reasons why you should sell your house for cash in 2021.
1. You Don't Need to Make Repairs or Upgrades 🏚
Every year, Americans spend more than $400 billion on home remodels and repairs. Homeowners preparing their houses to sell account for no small portion of that spending.
Yet on average, homeowners are lucky to see a return of 50 or 60 percent on their renovations. For homeowners with properties in disrepair or in need of extensive maintenance, the returns can be even lower.
With building material costs skyrocketing, homeowners have less incentive than ever to invest in home repairs prior to selling. They will also see less reward if they do.
Taken together, all of these factors mean that there has never been a better time to sell your house by yourself for cash.
2. You Don't Need to Stage Your Home 🏡
Another hefty expense homeowners can avoid by selling to companies that buy houses for cash is staging.
Staging has become a standard expectation for houses sold by realtors. But until it is time to sign a purchase contract, few sellers realize just how expensive staging can be.
Nationally, sellers spend an average of between $1,600 and $2,400 per month for home staging. With average sales taking between three and six months, this comes out to between $4,800 and $14,400 in total. These numbers can run even higher for homeowners:
- In areas with high costs of living
- With large homes
- With homes that are vacant or in need of extra attention
Selling your home as is by owner keeps that money in your pocket.
3. You Don't Pay Commissions ✍️
When you sell your house via a realtor, you can be responsible for paying an average commission of around six percent. Admittedly, that may not sound high and those funds go to cover a wide range of costs.
But the impact of commissions can be substantial. For instance, if you sell your home for $250,000, a six percent commission works out to $15,000. On a home selling for $100,000, you would still pay around $6,000 in commission fees.
This is no small amount of money, especially when added on top of the other unavoidable costs of selling through a realtor.
4. You Don't Pay Closing Costs 🤑
Nationwide, the average closing costs on a home sale are just under $6,000 with taxes. But depending on property location, home value, and other factors, sellers can easily see costs more than twice that high.
Together with the costs of repairs, staging, and inspections this can add up to tens of thousands of dollars that many homeowners simply do not have.
5. Selling Your House for Cash Is Fast 💨
The traditional real estate process has dozens of steps. Each step takes a lot of time. Worse, many of those steps are out of the property owners' hands.
Once a real estate agent is involved, homeowners often must wait on other people for:
- Home appraisals
- Home inspections
- Getting their home posted on sale sites online
- Scheduling prospective buyer walk-throughs
- Financing approvals
Most of the professionals responsible for these tasks have no reason to hurry and therefore don't. This leaves sellers at the mercy of other people's schedules, even when their own lives and needs can't wait.
Cash buyers for houses such as National Buyers, by contrast, work fast. They do not have to wait on financing approval, standard inspections, or appraisals. This allows them to buy your house in just a few days with no hassles or delays.
6. You Skip Negotiations 🤌
Negotiating with potential buyers can be a slow and agonizing process. Buyers and their listing agents will make every effort to force sellers to:
- Make repairs or upgrades
- Lower the list price of the home
- Cover sale costs
The back and forth is tedious and concessions can be costly.
When you skip the traditional process and sell your home without a realtor to a company willing to buy houses for cash, you avoid all of the stress, time-loss, and expense of negotiations.
7. It Can Help You Avoid Foreclosure 😅
Home foreclosure can be tragic and traumatic. It can:
- Leave homeowners with no money with which to secure new housing
- Devastate a homeowner's credit rating
- Limit the owner's ability to buy a new property for years to come
Finding a cash buyer and selling your house as the owner can help you avoid all of those negative consequences. All cash home buying companies can empower you to dispose of your property on your own terms and walk away in a good position to make new choices and thrive.
8. It's Ideal for Complicated Sales 🤝
Foreclosure is far from the only complicated situation that may leave property owners looking for a fast, simple sale. Other common examples include:
- Homeowners who inherited a property they do not want or cannot manage
- Families seeking to relocate on a tight timetable due to job relocation or family situations
- Divorces in which the home needs to be sold and the income divided
- Homeowners needing to move into assisted living or other alternative living arrangements on short notice
- Homeowners who need to liquidate their homes to address other major expenses
With its high costs, slow timeline, and numerous steps, the traditional real estate process is a poor fit for any seller in these or similar conditions. Choosing to sell your house as-is by owner for cash instead can provide the speed, flexibility, and cost-efficiency you need.
9. It's Convenient 🤝
Cash buyers like National Buyers make selling a home by owner quick and convenient. Sellers can request a cash offer on their homes online at any time and receive a rapid response.
In most cases, buyers who accept the offers they receive can have their cash in hand and their house off their list of things to worry about in two weeks or less. They do not have to:
- Wait until peak home sale seasons
- Deal with inspections or appraisals
- Do repairs or staging
- Deal with banks, buyers agents, or other third parties
Is for sale by owner worth it? When you enjoy a clean, fast sale and receive cash for your home, the answer is an unequivocal yes.
10. You Enjoy Lower Risk and Stress 🙌
As is no doubt obvious from the points above, selling your house for cash is a much lower-stress approach than using the traditional real estate process. Sellers avoid numerous stresses, hassles, and expenses and there are few seller concessions that have to be made.
They don't have to worry about their sales falling through because of actors or factors outside their control. Nor do they need to spend months of their lives working to get their homes sold. They can sell fast and confidently and move on with their lives.
Frequently Asked Questions
Many sellers are unfamiliar with the process of selling a home without a real estate agent. Here are some of their most commonly asked questions and their answers.
Q: What Is the Process of Selling a House for Cash?
A: Selling your home for cash is straightforward. Just request a quote from a quality cash home buyer, such as National Buyer, online. A company representative will work with you to determine the value of your home.
Then they will make you a cash offer. When you accept, the buyer will handle all of the paperwork and you will have your cash and closing date in as little as a few days.
Q: Is There Closing Costs on Homes for Sale by Owner?
A: There are always closing costs when selling a home. What these costs are can vary depending on state and local laws, what type of mortgage you have, and other factors. At a bare minimum, sellers can expect closing costs to include:
- Escrow fees
- Property Taxes
- Recording fees
Q: Who Pays Closing Costs When Selling a House by Owner?
A: The buyer will pay for the closing costs when you sell your house to a cash buyer. This can save sellers thousands of dollars at the time of sale.
Q: What Is an All Cash Offer?
A: An all-cash offer is when a buyer agrees to pay the seller in cash for their home upfront. Sellers receive all their money at once in a completely liquid form, giving them maximum flexibility and convenience.
Q: Is It Hard to Do For Sale by Owner?
A: Attempting to sell a home yourself using the traditional real estate process can be challenging. It leaves you responsible for:
- Posting your home to online sale sites
- Giving tours to prospective buyers
- Handling the legal aspects of the sale
Selling your home to a cash buyer, on the other hand, is easy and stress-free. You only need to know a few basic facts about your home and apply online using a short, easy-to-understand application form. After that, the buyer will handle all of the legal details, making your sale simple.
Sell Your House for Cash Today
If the choice to sell your house for cash sounds right for you, don't wait.
Get a quote today and find out how quick and easy it can be to sell your home to National Buyer.