During the spring of 2021, 25% of all buyers to existing homes were cash buyers. This high number is due to increased competition and a seller-friendly market. If you decide to sell your house today, you will likely receive at least one cash offer on your home.
The thought of a buyer knocking on your door with a briefcase full of cash is enticing. However, that is not an accurate description of a cash offer. A cash offer is where a buyer has enough money to buy your house without considering financing options.
A cash offer is convenient and less stressful in comparison to a traditional home sale. How is a cash offer more convenient? Continue reading to discover the finer details of selling your house for cash in Texas.
Reasons to Sell Your House for Cash in Texas
The average days on market (DOM) in Texas is at an all-time low of 28 days. This time frame seems short, but unfortunately, you might not have the time to wait. It is also not guaranteed that lenders will approve your sale if you find a buyer within the said time frame.
Finance is the most significant contributor to deals falling through. Buyers may fail to qualify for the mortgage after you have been through weeks of negotiation. To evade all this back and forth, you can sell to a cash buyer. The following are reasons why you should sell to cash home buyers in Texas:
- You will get your money as fast as possible.
- There are no-obligation offers.
- No showings
- Avoid legal issues
- The process is quick.
- They buy all types of properties for, i.e., residential, lots, and commercial properties.
- Selling house as-is is acceptable.
- Deals rarely fall through.
- You will avoid potential vandalism and theft.
Types of Companies that Buys Houses for Cash in Texas
Cash home buyers in Texas are not equal in any aspect. These companies are different in their mode of operation, size, target market, and goals. You can find them at all ends of the spectrum.
Whether your house is huge, small, ugly, or expensive, a cash buyer operates in that niche. Here is an in-depth analysis of the main types of companies that buy houses in Texas.
- iBuyer – iBuyer means instant buyer. These iBuyer companies buy and sell properties by incorporating technology into their systems. You can expect to get a competitive cash offer from them after contacting them.
iBuyers use artificial intelligence to come up with the price without seeing the property. They buy homes as is without requiring a realtor, warranties, repairs, and concessions. Some of the largest iBuyers operating in Texas are Zillow offers, Redfin and Opendoor.
- House flippers – House flipping companies buy houses and then sell them quickly at a profit. This house is simply an investment. The house flipper makes repairs that ensure they add to the value of the home.
- Buy and hold companies – Buy and hold companies purchase a home to keep it for a long time – between five and thirty years.
The value gradually rises with time, and the rent provides a consistent monthly cash flow for the investor. Single-family homes, apartment buildings, and other multifamily choices are examples of these properties.
Once the company recoups its investment, it can choose to sell or hold on to the property.
- Trade-in companies – Home trade-in companies facilitate home swaps. They do this by buying a house for cash and then moving you to a place of your choice. They do all this before putting your house on the market, thus reducing the need for a contingency.
- Local investors – These companies operate within a limited geographical area like a city or a state. Companies that buy houses in Arlington are primarily local investors.
The Benefits of Selling Your House for Cash in Texas
Selling your house for cash in Texas will aid in avoiding all the hassle involved in selling a home. You will evade the process of listing, opening your house to the public, and costly repairs.
Whatever motivates you to accept a cash offer, you will enjoy a variety of benefits. Here are five benefits of a cash offer on your house.
No Realtor Fees or Commission
It is public knowledge that hiring a realtor can be expensive. When you sell your house for cash, you don’t have to worry about hiring a realtor. You can bypass the closing costs associated with a standard home sale.
Since cash buyers buy directly from you, there are no Realtor commissions. These commissions take up thousands of dollars in typical sales. To avoid these high costs, find a company to buy my house in Houston for cash.
You Can Negotiate the Price to Suit You
Cash buyers are readily available for contact. A simple phone call is all it takes to begin the home selling process. When you speak with a cash house buyer over the phone, they will be able to learn more about your property and what its value might be.
Then they can look into the history of your neighborhood, the value of the other homes nearby, and the worth of your home. After that, the buyer would most likely come over to see your property in person. They’ll either make you an offer right away or call you within 24 hours.
When you receive the offer, you can inform them whether you agree or disagree with it. That initial offer serves as a basis for direct negotiations between you and the cash buyer.
If you’re not good at negotiating, you can set a price that suits you for the home. If you get an offer that equals or exceeds that amount, accept the offer.
Cash Home Buyers Offer Fair Cash Deals
Cash home buyers give an offer based on the housing market in the area. Cash buyers generally match or are very close to the home’s actual market value. In some cases, cash offers even exceed traditional realtor house deals.
These deals do not require an appraisal. As a seller, you do not have to worry that the appraisal will not be high enough. The price of the house is what you and your buyer agree to. If you see the deal as fair, then your decision is final.
Additionally, the cash deal is not likely to fall through, and the proceeds are not subject to commissions, fees, and closing costs associated with the traditional process.
Cash Home Buyers Work to Your Timeline
Cash home buyers understand that your life encompasses other aspects. The timeline that you give will structure the sale of your house. Selling a house is a very time-consuming process.
It would be nice if you were present when people come to see your home. Then you have to wait for them to make formal offers.
Even after all this, you must also wait for the potential buyer’s loan to be approved before you can continue. With a solid cash offer, you do not have to go through all this. There are many creative ways to sell a house to a cash buyer without having to reschedule your timeline.
Hassle and Stress-Free Home Selling
Selling your house for cash is the key to having a convenient sale. The key is that cash offers take about half the time a traditional offer involving traditional lenders takes. Less time means everything is essentially halved.
There are fewer factors to consider, less paperwork to fill out, and fewer individuals to contact.
All-cash offers require less labor overall. Most cash buyers don’t expect the current owner to renovate the home. It is one of the most significant money and time savers. In reality, some of the buyers are looking to do some repairs themselves.
If the cash buyer would like you to do some repairs, you can lower your asking price to enable the cash buyer to recoup any money they might use to repair the section of the home in question.
Accepting a cash offer on your property is a conscious decision that makes the process of selling your home easier for both you and the buyer.
There are a myriad of hurdles that can throw off a house sale in Texas. The primary cause of deals falling through is financial issues. However, some buyers are fickle, negotiations can be daunting, and there are very many regulations. All these can drag the selling process or derail it altogether.
Cash offers give you the option to choose to avoid these long and tedious processes. Many companies with different structures buy houses for cash. Selling your home to these companies exposes you to a wide range of benefits.
With a cash sale, you will not have to worry about all the complexities of a traditional house sale. The transaction will be simply faster, convenient, and more manageable. It is the best way to get out of a complex home selling situation.
Enjoy the benefits of a cash offer on your house in Texas by contacting Four 19 properties. We will buy your home as-is at any time of the year.