June 20


Who Buys Homes for Cash?

By Mike Nelson

June 20, 2022

Buy home for cash, sell home for cash

Property at Tierra Mallorca

Looking to sell your home for cash? If you’re looking to buy new property quickly, then selling your home for cash is a great way to avoid the hassle of getting a loan approved.

But just how does one go about selling their home for cash? Is there a select group with an interest in cash home buying? And if so, how do you connect with them?

If these are questions you have asked yourself before, then follow along to learn what it takes to quickly sell your home for cash. We’ll explore the reasons you might want to sell for cash, how to find buyers who are interested in paying cash, and what you can do to make sure your home is attractive to cash buyers.

3 Benefits of Cash Only Houses

There are many benefits to selling your home for cash, but these are our top 3 benefits:

  • Can avoid the hassle
  • Skip taking out a loan
  • You can keep all the proceeds

Perhaps the biggest benefit is that it allows you to avoid the hassle and expense of traditional methods of selling, such as working with a real estate agent. It also means you can sell your home quickly and without having to make repairs or improvements first.

Another big benefit of selling your home for cash is that you can avoid having to take out a loan to cover the costs of selling. This can be a big plus if you have bad credit or are otherwise unable to qualify for a loan.

Finally, selling your home for cash means that you get to keep all of the proceeds from the sale. This is not the case when you sell through a real estate agent who will take a commission out of the sale price.

Find Reputable Buyers Looking To Pay Cash

Anyone’s first thought when selling their home is to look for a real estate agent. After all, they do a lot of the heavy lifting and find you a wealth of potential buyers.

However, even though this may seem like the smartest solution possible, remember, a real estate agent is just a middleman. They take their pay cut and, depending on the size of the sale, it could be quite a large amount.

This is why real estate firms are gaining traction. Unlike middlemen, these firms are the buyers themselves, usually buying homes as-is for cash.

For instance, Coveway buys homes as-is, despite any structural damage, sewage issues, or harm caused by renters.

Make Your Home More Attractive to Buyers

Cash only houses don’t necessarily need to be in good condition. Sure, they can be, especially if you’re working with a real estate agent, but a firm won’t particularly care.

This is because a real estate agent will likely connect you with buyers looking to move in quickly. They expect the home to be move-in ready, so they’re going to nitpick.

On the other hand, if you’re selling your home without an agent, it’s still possible to find a cash buyer. In this case, you’ll likely need to do some research to find a reputable firm.

Once you’ve found a few firms, send them some photos of your home. Make sure the photos are clear and show off the best features of your home. You should also include a brief description of your home.

If the firm is interested, they’ll likely make you an offer within a few days. If you’re happy with the offer, you can move forward with the sale.

Keep in mind that you’ll need to pay for closing costs, which can be around 2-5% of the sale price. You should also budget for any repairs that need to be made before selling the home. NO CLOSING COSTS WILL BE PAID BY THE SELLER IF YOU WORK WITH COVEWAY PROPERTIES. WE BUY AS-IS AND PAY 100% OF ALL CLOSING COSTS.

A Brief Note About Selling As-Is

Because firms regularly purchase homes in disrepair, they do not require sellers to stage their homes before the sale. You can simply take photographs of the home in its current condition and send them right over.

Of course, they’ll likely walk the property, but whatever they find won’t necessarily be a deal-breaker.

That being said, the condition of the house does matter. The fewer repairs the house needs, the higher the check will be, usually. An exception to this would be if a firm is actively buying a home to clear a plot of land. At that point, renovations and repairs would be irrelevant.

Sell Your Home Quickly for Cash

Selling your home for cash can seem like a daunting process, but it doesn’t have to be complicated or stressful. With the right preparation and guidance, you can buy your dream home without any problems.

Need some help when selling? Coveway Properties is currently buying cash homes. Contact us for more information.

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