As a seller, you may have heard of the term “cash only home sale.” But what does that mean, exactly? Is it something you should consider for your home sale? And, if so, how do you go about finding a buyer who will come in with all cash? In this post, we’ll define all of these things; so let’s get started!
An all-cash home sale is one in which a homebuyer has enough cash available to purchase a property without the need to secure financing. All-cash sales are typically more attractive to sellers as they close faster and don’t require loan processing time and headaches. Plus, the risk of a sale falling through, a common painful happening in financed purchases, is completely eliminated.
How to Find Cash Buyers for Homes
You might wonder, “how do I sell my home for cash?” Well, when there are multiple buyers looking at a home for sale, a seller gets to pick who they’re going to go with. Since cash only home sales are so enticing to sellers – if there IS a cash offer on the table, all the other buyers with loan pre-approvals basically immediately lose.
A seller is extremely lucky to have someone come in with all-cash, but how does a buyer come across hundreds of thousands of dollars to make such an offer? It doesn’t happen very often but when it does here is who you’re usually working with:
- Someone who just sold their previous home and has proceeds from that sale to use.
- Retirees who decide to use their savings in order to avoid financing costs.
- Investor companies, meaning us here at Osborne Homes. We buy homes for cash every day!
Since the first two come along by pure happenstance, you might think you can’t really count on getting an all cash sale. And while that’s true for regular buyers, don’t forget that you can call our Osborne team up right now and we will buy your home for all cash. We buy houses and properties all over California like this; even occupied! And you don’t have to go through the headache of a traditional sale.
Why do sellers prefer cash offers?
If you’re selling your home, the idea of receiving all cash for it might sound fantastic! And it should, because there are plenty of advantages of going with a cash only home sale. Here are some of them:
Skip most of the contingencies with cash sales
The financing contingency, for example. Cash home buyers can skip this because that is for purchases with a mortgage loan. There may be no need for a sale contingency either, since that is required when a buyer is waiting for one home to sell before they can finance yours. Some buyers might decide they still would like to have an inspection contingency, though, which makes the offer contingent upon the results of the home inspection.
Closing process is much simpler
While you’ll still want a title and escrow company to handle the transaction, the closing process on an all-cash home sale is so much simpler. This is because, when there is no financing involved there is a whole lot less paperwork.
No risk of a loan fall-through
It’s pretty common for a buyer’s loan to fall through, which adds even more stress to an already difficult situation. Now you have to start from square one looking for another capable buyer.
Faster closing process
With no need to wait for a buyer to sell one home before they can buy yours, or for buyer pre-approval, appraisals, loans to process or funds to become available, the timeline for a sale to cash home buyers is shrunk, dramatically.
Avoid the headache of a traditional sale
When a home seller is at the point of receiving offers from buyers, that means they are already months into the selling process. In other words, they’ve already gone through the sweat, blood and tears of getting the home ready with costly repairs, staging and photography, securing a real estate agent and putting the house on the market. They may have waited a while already, also waiting for interested parties to come through.
None of that is even necessary. Take the cash from Osborne and save yourself all the trouble. You won’t be missing the time and effort it takes to get a home ready, even JUST to list it on the real estate market. We don’t need you to make any repairs since we buy houses in as-is condition. No need for professional photography, finding a real estate agent or waiting for buyers to come along! Get started here: Sell your house to Osborne Homes!
Osborne Homes puts a cash only home sale right within reach
That’s right, no need to stage, list or market your home, or deal with open houses and multiple buyers. Just take a few minutes to fill out our form with details on your property and that’s it. And, since we buy houses in any condition you’ll more than likely qualify and we can start the process right away.
We love buying homes for cash! And as real estate investors, we have extensive experience in professionally assessing a property’s value in any given market. Our highly qualified team is dedicated to helping homeowners sell their property for cash, fairly and quickly. Contact us right away!