Find out why more and more sellers are going the cash route and reasons to sell your house for cash.
Listing a property for sale to get it off your hands is a long and aggravating process, which no sane person would want to put themselves through. Despite this, it is something almost all people have to face at some point in their lives. Selling a house has become an increasing reality for more and more people. With home sales climbing to nearly 7 million in 2021, and the figure only expected to rise, it definitely is a growing market. However, for all the new sellers in the market, it can become tasking to figure out all the quirks of having your property sold. This is especially true when discussing reasons to sell your house for cash as opposed to other forms of payment.
All cash sales are most certainly on the rise. Back in the year 2017, the National Association of Realtors (NRA) found only 23% of sales to be cash only. Fast forward to 2021, and that figure has jumped to a whopping 32%. The increase can be attributed to more and more sellers finding the benefits of an all-cash deal quite enticing.
Before we get started on the benefits that 32% of home sellers enjoyed in 2021, we need to find out if you have any reasons to sell your house for cash and if that is the best option for you.
Top Reasons to Sell Your House For Cash
When it comes to life, there isn’t any shortage of surprises. With all the uncertainty that comes along with it, there are numerous ways you can find yourself in a position wanting to get rid of your property and fast. When you finally run into the predicament, you’ll ask yourself a few questions about how you should go about selling the property. To make that bit of uncertainty a little easier on you, we made the following list. If you’re looking to sell for any of these reasons, you can work with SolidOffers on getting multiple and verified cash offers.
Inheriting a House
When you unexpectedly get handed down a piece of property, you also get along with it a multitude of potential decisions to make with it. All of the choices can get overwhelming, making you feel helpless and lost. Among your many choices are either to move in, rent it out, or sell it.
If you ultimately decide to sell it, you’ll find yourself in a pickle after finding out that real estate agents often take longer to sell inherited properties. As a result, selling the house yourself for an all-cash deal is your best bet at getting rid of the unannounced burden. Once you’ve got your claim and are on the market, you’ll learn it isn’t a more expensive venture than what most realtors make it out to be.
With the great amount of uncertainty that accompanies life, any person could find themselves in need of some quick change. There are way too many different circumstances where one would have to sell their property for cash due to some underlying financial troubles. For this purpose, we’ll delve into the two most common reasons.
Prevent House Repossession
In the case of house repossession, the court sends out an order to the owner, to evict them from the property. The possession of the property is then transferred over to the mortgage lender. This most often occurs when you are late on some payments to the mortgage lender but are unable to pay them. As a consequence, the lender finds repossession the only suitable method of attaining their funds and avoiding the risk of default.
If you or your loved one finds yourself in the predicament, you’ll understand how troubling it can be. Not just on your wallet at that, but also as a form of mental anguish. When dealing with the stress of house repossession, it may seem as if you are out of options. However, with SolidOffers, you aren’t out of options. You can still sell your house for a cash offer.
Paying Back a Debt
It is notoriously easy to find yourself in debt to a friend or your bank without intending to be. While the debt you incur might start small, it can very quickly get out of hand. At a moment’s notice, you’d end up owing thousands without remembering how you got there.
If you deal with your debts as they come, this may not be for you. However, if you find yourself in a severe deficit of cash then selling your house for money may be your only chance of escape. While it may not stand out as immediately obvious, it is certainly the way to go.
Mounted with the burden of recompensation, you’ll find yourself questioning if getting rid of a house is worth it. This is due to the fact that selling a house can be several months long, sometimes even a year-long, procedure. This is until you realize it doesn’t have to be. You can get out of your debt-related issues almost immediately if you go for a cash deal on the house you’re selling. The huge sum of cash you get from the sale can directly be put into paying off any debts.
Relocation or Emigration
There aren’t only the low points in your life where you can choose to sell a property. Sometimes, the reason you decide to sell can be a bit more exciting than just a burden on your shoulders. Emigrating to a different part of the world, whether for your career or a relationship, is one of the many examples of that.
If you are relocating to a new area, nationally or internationally, you’ll find yourself asking whether to hold on to or sell off your current area of residence. Since there are some excellent reasons for doing both, it can be a difficult question to answer. It is made all the more complicated by being asked at the start of the next chapter of your life. At a time when you think you have all the answers for the future.
If the thought of a lengthy procedure, from staging to dealing with realtors and buyers, is what’s keeping you from selling, then there’s a simple solution in the books for you. Rather than having to risk delaying the start of your next chapter, because of a house, simply sell it off in a cash deal. You’ll find the conundrum off your hands in no time with an all-cash deal.
Downsizing or Upsizing
Different people hit different points in their life, and all such points come with their own specific needs and accommodations. You might have your elderly parents moving into a retirement home, have your children heading off for college, or simply prefer a more minimalistic styled life, and as a result, want to move into a smaller-sized abode. You could also be on the exact opposite end of the spectrum and be wanting a bigger house for the new family you’re planning to make, or maybe you and your friends may have decided on moving in together. Either way, you’ll be in the market for a new house to move into, which also implies potentially selling off your current one.
If you are thinking that selling off your property isn’t worth it because of all the hassle that’s typical for a listing and all of the fees associated with such a cumbersome task, then you would be wrong. The process doesn’t have to be costly, and most certainly not a headache. All you have to do is sell the property for cash, but also make sure you do it with a responsible and trusted buyer. Or you can simply avoid all that hassle and just get to buying your new house by using SolidOffers. Selling the property is always the better choice as it takes the burden of having to maintain it off your shoulders, and it gives you the funds for a new home, bigger or smaller.
Offloading a Rental Property
As an investor, there are points during the market where you might find it better to sell than to hold. The most obvious of this is when your locale is experiencing a seller’s market, but there are also other times you should press the ‘Sell’ button on a piece of property.
Its Value Appreciated
The most basic principle of an investment of any kind, not just a rental property, is to buy low and sell high. The goal is to make money. If the value of your property is sitting significantly higher than when you bought it, it’s time to sell. A big part of the investment business is having to deal with losses, so getting a win as an owner of a piece of property, you should certainly cash in.
Negative Cash Flow
On the other end of the spectrum of investment in real estate, on some off chance, you could have bought yourself a property that costs a lot more than whatever income it can generate for you. You are said to be experiencing a negative cash flow, or a loss on your investment.
Sometimes property owners cling on to some dying hope that one-day things might change in the future, or develop an emotional attachment to the property, and decide to hold on. This can have devastating results on your income. A piece of property experiencing negative cash flow should always be sold sooner rather than later. An exception is that there are some confidence-inspiring signs for the future of the property. Sometimes selling the property for a cash offer is the only certain way to ensure that the property generates a cash flow for you.
Curiosity About Real Estate
The last of the long list of reasons to sell your house for cash is simply that a person might be interested in selling their property and finds it to be the most viable option. A person could be a newbie to the real estate market, and would rather the ease and convenience of an all-cash deal than whatever cumbersome alternative.
Advantages of Selling for Cash
When selling a property for cash, there are numerous benefits the seller can hold over his traditional selling counterparts.
For one, cash sellers don’t have to put up with the staging process of a house. The part of the sale where the seller stages his home for prospective buyers to your around. While the buyer eyes up everything in the seller’s home, the seller and their family have to find another place to rent out for the time being. All this means you are spending money before you ever even begin to sell your property.
Renovation is another crisis dealt with by traditional sellers that an all-cash seller simply avoids. In the renovation phase of the house selling process, the seller would have to repaint the house, redo all of the carpeting, and conduct repairs throughout the house, fixing everything from a leaky faucet to carrying out an entire re-roofing, if need be. All this adds to the money spent before you begin to list your house.
The entire selling process with an all-cash deal is considerably faster than the traditional route. The faster closing time can be chalked up to the house not requiring any inspections, appraisals, or the seller having to wait for the buyer to get financial backing.
If you couldn’t already tell, selling for cash is also greatly cheaper than traditional methods. You won’t just be saving on repairs, the staging process, and the rent you pay while buyers tour your property. You also make considerable savings when you factor out any flat fees or commissions a real estate agent would incur.
Reasons to Sell Your House For Cash With SolidOffers
So we have deemed selling for cash as definitely the way to go when selling a house, but how do you go about your selling journey? That part is even simpler. SolidOffers has all the answers to your house selling problems. If you or any loved one is facing any one of the predicaments mentioned above where they should sell for cash, then head on over to SolidOffers right now.
Simply give them your address and they will present to you multiple cash offers from investors ready to buy your home as is. You don’t just reap the benefits of selling for cash, you get the cash offers presented to you. Choose whatever offer suits you best and close the deal in a matter of days.
Not only that but, you also won’t have to be dealing with any service charges or hidden fees either. To get more info on how SolidOffers makes your life easier, visit their FAQ page or give them a call at (888) 522-6089.