Selling Family Home For Quick Cash
Selling a house is seldom an easy task, but when it comes to selling a family home, the responsibility increases to new heights. This undertaking comes with its own emotional baggage. But getting emotional can make it difficult to make a sound decision so, you have to be careful and know what you are getting. Your family home can be sold on the traditional market through an agent, or you can sell it directly for cash to a real estate investor, also known as a ‘we buy houses’ company.
‘We Buy Houses’ Companies:
We buy houses companies are a common type of real estate investors, also called cash home buyers, that buy houses for cash. In many cases, people get family homes in inheritance after a loved one passes away. Such individuals do not prefer to deal with the tedious work of selling a property through traditional channels. A cash home buyer provides a worthwhile alternative by removing all complications of a traditional deal and offers cash for your property. They will offer a cash deal, but their offer is usually lower than the market value on the house, but a good cash buyer can close the deal in days, giving you cash as soon as possible.
If you want to sell your house fast and without putting in any work, selling to a ‘we buy houses’ company is a fitting option.
Traditional Real Estate Market:
Selling on the real estate market through a good estate agent is almost always recommended if you can wait months for a closing. An experienced real estate agent knows the market, and he will be able to fetch the best price possible for your home. But to get such a good price, you will have to wait longer than a cash offer. A traditional deal on average takes 40-60 days to close, but it can drag on longer if some unknown complications arise. Moreover, you should also expect at least a 4% cut in profits for the agent’s fees. You will have to decide if the trade-off of time and a percentage of profits is worth the high value you are getting this way.
Which is Better?
Both of these options have their own pros and cons, and both are suitable for specific people with specific needs. Want to get the ideal price for your beloved family home? If you can wait months for a deal to close, then it is better to contact a good estate agent to sell your house. But if you can not wait a long time for closing and want to , or if you are cash-strapped, then selling to a ‘we buy houses’ company is a better option.
In the end, it all comes down to your needs at the time, and you have to consider which option is more beneficial to you. But remember, clear your emotional state before selling a family home, because oftentimes an emotional mind can cloud your judgment. So, weigh your options with a clear mind.
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