There are several ways to sell a house, selling by owner, selling with a realtor, and selling to cash house buyers. After doing some research, you may find out that selling by owner isn’t as straightforward as you thought. Besides doing all the work, you likely will need to make repairs and updates to your home to get it ready to sell. And the money you would be saving by selling by owner isn’t as much as you thought it would be.
Hiring an agent isn’t any better. Though they will do most of the work selling your house, the trade-off is paying them handsomely for their efforts (6% of the sale price). Also, agents will likely encourage you to do updates and repairs if your home needs them; that way, they can ask top dollar for your property. Easier said than done when you’re the one floating the bill.
On top of that, selling by owner or with a real estate agent will not guarantee that your house will sell quickly.
So that brings up the third option to sell a house, selling to a cash house buyer. But what is a cash homebuyer? Why would selling to a cash house buyer in Lincoln be better than the other two methods? All are great questions to ask when it comes to selling your home.
Selling to a cash house buyer will definitely give you the results you are looking for. Let’s take a look at the process and why selling to a cash home buyer in Lincoln would be a good idea for you.
Advantages Of Selling To Cash Home Buyers
What Is A Cash Homebuyer?
Cash homebuyers are known by a few different names; cash investor, house buyer, real estate investor, cash buyer. All of these names refer to the same thing. A cash house buyer is either one person or a small group of people that purchase real estate with cash. Usually, they buy real estate with the intention of either keeping the property as an investment or renovating the residence and then reselling it for a profit. They typically acquire homes that need some repairs or renovations but are even interested in new houses too. Their goal is to help homeowners in unique situations sell their homes quickly.
Tip: When working with a cash house buyer, you shouldn’t expect top dollar for your property. Cash homebuyers usually purchase homes in need of work or in unique situations. Because they would be the ones investing their time and money into the property, they typically buy homes below market value. If the goal for you is to sell your house fast and not deal with the hassle of ownership anymore, then you found the right buyer!
What Are The Perks Of Selling To A Cash Homebuyer?
There are several advantages to working with a homebuyer compared to a traditional buyer. Let’s take a look at some of the perks:
- Real estate investors pay in cash
Since they pay in cash, they can close a lot faster and don’t need to wait on loan approval contingent on a home appraisal. Most buyers need a conventional loan to purchase a house. And home loans are contingent on an assessment of the home’s value.
- Homebuyers can close quickly
They can close quickly, even in as little as 7 days. Since an investor pays in cash, they don’t have to wait on financing. They work with your schedule and timeframe to find out when the best time for you to move out would be. You wouldn’t have to wait for months, wondering when your house will sell. If you were to list your home, the average time it takes to get an offer and mortgage approval would take 54 days in Lincoln, NE.
- Homebuyers buy houses as-is
Cash investors require no repairs, remodeling, or renovations, which would save you a lot of time and money. The average cost of a home renovation in Lincoln costs $39,000. And can take several weeks to 6 months to complete. When selling to a traditional buyer, they are looking for an updated turnkey property that is move-in ready.
- Cash House Buyers don’t charge commissions
Since they are buying the property, a realtor doesn’t need to be involved, which would save you 6% in fees based on your final sale price. Selling with a realtor could either cost 3% or 6% in agent commissions. Even if you decide to sell by owner, you may be on the hook for a 3% commission if the buyer uses an agent.
For example, if you were to sell your home for $250,000, a 6% commission would cost $15,000, and a 3% commission would cost $7,500.
- Cash Investors can handle unique situations
Besides buying houses as-is, real estate investors will purchase a property no matter the reason, condition, or challenge. Areas that they can be of help:
- Major Repairs Needed
- Storm Damage
- Fire Damage
- Termite Damage
- Full of Stuff or Trash
- Major Repairs Needed
- Problem Tenants
- Unfinished Construction
- Financial Issues
- Title Issues
- Code Violations
- Hoarder Home
- Large Liens
- Late on Mortgage Payment
- And Many More
Do you know a typical homebuyer that would buy a house with these challenges?
The benefits of selling to a cash house buyer speak for themselves. But how do you find a reputable real estate investor?
How To Figure Out If A Cash Home Buyer Is Reputable
When it comes to figuring out if a cash house buyer is creditable, there are a few things to look for. Firstly make sure they have an online presence and look at their website, do they have reviews from real people? See if they have any social media pages and make sure they are somewhat current.
Check to see if they are BBB accredited. Find out how long their company had been in business. Make sure they use a Nebraska licensed title company to close. Does the seller decide when the closing will be? And do they offer a program to pick out your move out date?
Most importantly, are they a local company that is willing to work with you, answer any questions, and put everything in writing? If you can answer yes to all of the questions, you have found a ligament cash homebuyer.
How Do I Find A Cash House Buyer In Lincoln?
To save you the trouble researching reputable cash home buyers in your area, meet Element Homebuyers. Element Homebuyers is a real estate solutions company based out of Lincoln, Nebraska.
We are a family-owned business focused on helping homeowners like you find solutions to any housing situation you find yourself in. We are a BBB accredited business and can give you a fair cash offer today! What sets us apart from anyone else in our industry is our core values:
- Taking Action
- Going Above And Beyond
At Element Homebuyers, we focus on providing you with a solution to your situation so you can continue to do the things you love. If you’re ready to get started, want to find out more about how it works or our company, please visit our website. We are prepared to help you!