Should you sell your home for cash in Northern Virginia? It totally depends on your individual situation. Most properties that are good candidates for marketing to cash purchasers need a lot of work, and are perhaps even uninhabitable in their current condition.
When You Sell Your Home for Cash – Things to Consider
Your decision on whether to sell your home for cash will often come down to the condition of your property. Some homes are in such poor condition that banks will not give loans to home buyers who want to purchase them. However, if you sell your home for cash, it’s important to know that cash buyers always want a discount on their home purchase.
Cash home buyers often buy properties without any contingencies, meaning they choose not to have a home inspection or appraisal. The general rule of thumb from the perspective of a home seller is that the fewer variables in a real estate contract, the better. If a cash buyer can give you quick closing, and no financing, appraisal, or inspection contingency, those lack of variables are worth a lot of money, assuming your home can’t attract buyers who are getting loans, or your home is in such bad condition that it wouldn’t qualify for a loan.
Read Part 2 of my blog series on things to consider when you sell your home for cash in Northern Virginia.
Are you thinking about selling your Northern Virginia home in the next year or so? Email me at DarrenRobertsonHomes@gmail.com for my free report on the top 5 mistakes homeowners make when getting their home ready to sell.