5 Costly Mistakes to Avoid When You Sell Your Home For Cash

sell your home for cash

Approximately 28% of Americans relocate every six years, and sometimes that involves selling their current home. A 2019 report by the National Realtor Association shows that 11% of homeowners preferred to sell their homes FSBO. This is because there are a lot of benefits of direct sales for cash.

Getting to sell your home for cash grants you quick access to the money. However, it is relatively easy to fall into the traps of unscrupulous cash home buyers if you are not careful. Check out five mistakes you need to avoid, whether you are selling a mobile home or a bungalow.

1. Hiring a Real Estate Agent

The first mistake most homeowners who are looking to sell a home for cash do is to place it under a listing agent, especially when selling a home quickly. In 2018, the typical US home spent between 65 and 93 days on the market. When you hire a real estate agency, you will have to sign an agreement in which you will have to offer a cut of the final sale to the agent. You must pay this commission even when you find the buyer yourself. Selling FSBO allows you to enjoy the whole amount without unnecessary deductions.

2. Not Researching Your Buyer

You need to be wary of transacting with the wrong buyers. Some house buying companies quote low prices trying to acquire your home for pennies on the dollar. You need to do your homework and find out more about the buyer. What is their reputation within the community? Let them provide proof of the funds to finance the deal. Nothing is as frustrating as a deal falling through at the last minute due to a lack of funds.

3. Repairing, Fixing, and Staging Your Home

Your realtor may need you to perform renovations to your home to make it more attractive to buyers. You may also have to pay for photography and staging costs. On the other hand, most cash home buyers in Greenville do not care about the condition of your property. You get to sell your home for cash on an ‘as-is’ basis. Do not spend money trying to upgrade your home in efforts that may never provide any return for your investment.

4. Unrealistic Price Expectations

It may not be easy to let go of your dream house with all the memories you made during your stay. However, when you get to the negotiation table, drop all these emotions. Provide a realistic valuation for your home. It means researching the current market retail price for houses within your neighborhood. Overpricing your home will only dissuade potential buyers. However, that does not me you should accept a low-ball offer, either. Find cash home buyers in Colombia, SC, that provide a fair offer and a reasonable closing date.

5. Not Educating Yourself on the Home Selling Process

You may need to find out more information on how to negotiate a good deal for your property. Find out which legal documents you need. Find out the exact steps required to sell your home for cash. It can help you hasten the process.

Selling your home fast for cash is not an easy feat. Avoiding these common mistakes ensures that you get the full amount you deserve for your home within a shorter timeframe. En-vision Home Solutions can provide a fair cash offer with a closing date of your choosing.

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