Have you ever wondered what the key benefits of selling a house for cash are? If you have, then you’re in luck! In this blog post, we will discuss some of the top benefits of working with a cash home buyer. Whether you’re in Idaho or another state, it’s important to work with a company that has your best interests at heart. We believe that cash buyers offer the best solution for those who need to sell their houses quickly and without any hassle. Keep reading to learn more about the process of selling to a cash home buyer and why it might be the right choice for you!
What are Cash Home Buyers
Cash home buyers are individuals or companies that purchase homes for cash. They may also be called real estate investors or house flippers. These buyers typically don’t use bank financing but rather buy with cash. And when it comes to buying real estate cash is king! This can provide several benefits to the seller. When you sell a house for cash you won’t have to wait for a buyer to get a mortgage lender, bank appraisals, and home inspections.
Cash home buyers are often interested in buying distressed properties to fix them up and resell them or keep them as rental property. This can be extremely helpful if the house you’re trying to sell needs significant repairs, has a foundation issue, a leaky roof, or water damage.
Homebuyers are also great to work with if you find yourself in a unique selling situation and need to sell quickly. For example, if you’re dealing with a financial situation like foreclosure or bankruptcy, job relocation, and divorce are all examples of situations where a cash home buyer can help.
How Cash Home Buyers Work in Idaho
When you work with cash home buyers in Idaho, the process is simple and straightforward. First, you will need to contact a cash home buyer and provide them with some basic information about your property. This includes the address, the square footage, and the home’s condition. From there, they will contact you to get more details about your property and to schedule an in-person walk-thru or video walk-thru. Unlike selling a house traditionally, you’ll only have one showing instead of multiple and no open houses.
After the homebuyer sees your property within 24-hours, they will send you a purchase offer, which you can accept or reject. If you accept the offer, the cash home buyer will send you a contract to sign. Once you sign the contract, you will then decide on the best closing date for yourself. Homebuyers can close in as little as 7-days or longer. From there, you’ll just focus on packing your belongings and moving out on the closing day. It’s as easy as that!
Now that we’ve gone over the basics of how cash home buyers work, let’s discuss some of the benefits of working with them.
Benefits of Working with Cash Home Buyers
There are several benefits of working with cash home buyers. Here are some of the top benefits that you may find helpful.
No Realtor Fees
One of the biggest perks of working with a cash home buyer is no realtor fees. Traditionally when an Idaho homeowner wants to sell a home, they hire a listing agent to advertise their property on the MLS and find a buyer. Listing agents charge a fee of 2.5-3% upon the sale of the home. If a real estate agent represents a buyer, they also charge a 2.5-3% commission. So in total, you’re looking at paying 5-6% in agent fees.
It generally falls on the seller to cover all realtor fees in a home sale transaction.
Currently, the average home sale price in Boise, Idaho, is $515,100 if you were to calculate a commission of 5-6%, that would come out to $25,755-$30,906 in realtor commissions. This could be a huge burden for some homeowners, especially if you need the extra cash.
What about selling by owner? Yes, there are some savings involved with selling for sale by owner (FSBO). By not hiring a listing agent, there is a savings of 2.5-3%; however, if the potential buyer uses an agent, then the seller will still have to cover those costs (2.5-3%), in the end, the seller will be paying half of the realtor’s commission while doing all the work to sell a home.
Cash homebuyers don’t charge any realtor commissions, so you’re essentially saving that money by working with them.
→ Find out if you should sell your house with a realtor or cash home buyer!
Easy House Selling Process
The process of selling your house to a cash home buyer is simple and straightforward. If you’re not familiar with what all goes into selling a house, it surprisingly is a lot of work and can be expensive. When you sell to a cash home buyer, you don’t need to worry about making home repairs, expensive renovations, staging, or adding curb appeal. You don’t have to deal with hiring a realtor and wondering when your house will sell.
The selling process is very simple; you’ll contact a home buyer, get a cash offer, and sell your home. Selling to a local cash home buyer like Gem State Cash Offer can help you avoid any headaches and hassles that come with selling a house.
No Hidden Costs
Another benefit of working with cash home buyers is no hidden costs. Unfortunately, when you work with a realtor, hidden costs will often pop up during the traditional sale process. These can include closing costs, title insurance, processing fees, buyer concessions, and more.
Cash homebuyers don’t charge realtor fees and may even help cover your closing costs.
Furthermore, when you work with a cash home buyer, all costs are upfront. So you will know exactly how much money you’re getting for your house and there won’t be any hidden surprises. This is another way that working with a cash home buyer can save you time and money.
Selling a House at Your Speed
Although the Idaho housing market is doing well, selling a house can be time-consuming. The average time it takes to sell a home in Idaho — from listing through closing — is approximately 72 days. That’s 37 days to get an offer, plus the typical 35-day closing period. This doesn’t include the weeks or months of prep work involved in getting your house ready to sell (repairs, renovations, decluttering, cleaning and staging).
Being able to sell a house at your speed can be extremely helpful if you need to move quickly for a new job, are trying to avoid foreclosure or bankruptcy, or your dream house just hit the market.
Deciding Your Leaving Date
When you sell your house to a cash home buyer, you’re in control of when you leave. You’ll be able to choose a closing date that works best for you. And if you need more time after closing, that’s totally okay. The homebuyer may be able to work with you until you find a new place to live.
Ultimately, you can decide when you want to sell your house and how quickly you want the process to move along. Whether that’s 7-days from when you accepted the offer or a few months, a cash home buyer will work with your ideal timeline.
With cash home buyers, there is no waiting around for months on end while your house sits on the market.
Working with a cash home buyer is the perfect way to avoid any hassles or surprises that come with selling a house. The process is simple, straightforward, and stress-free. Plus, you’re able to save money and avoid dealing with home repairs.
We highly recommend contacting a cash home buyer if you’re considering selling your house. They offer the best solution for those who need to sell their house quickly and without any hassle. Contact us today to learn more about working with cash home buyers in Idaho!
Things to Consider When Selling Your House for Cash
If you decide that selling to a cash home buyer sounds right for you, here are a few things to consider with a cash sale.
Watch Out for Home Buying Scams
Sadly, there are home buying scams out there. Before you contact a home buyer, be sure to do your research and make sure the company is reputable. A few ways you can do that would be to visit their website and to see if they are a BBB accredited business. Next, read their reviews online and make sure to get everything in writing. Lastly, avoid calling bandit signs posted on street corners with ” We Buy Houses, Fast Cash.”
Furthermore, you’ll want to avoid working with a homebuyer that charges you for a cash offer or any administrative fees. The money flow should always go towards the seller, not towards the buyer.
Another scam to be cautious of is out-of-town buyers that buy houses sight unseen. What tends to happen is a supposed buyer contacts a homeowner saying they love their home and want to buy it right away. They offer to send the money via check to purchase the house, but once you receive the check, it’s for more than the agreed-upon amount. You notify them that the amount is incorrect, and they blame it on a clerical error and ask you to send the difference back to them. So you send it, and a few days later, the check doesn’t clear the bank, and you’re out several thousand dollars.
Sadly scammers use other tactics, so you’ll want to be cautious. However, several companies that buy houses in Boise come highly recommended, including Gem State Cash Offer!
Be Sure You’re Selling to a Local Company
Another thing to consider when selling your house for cash is working with a local company. Some “We buy houses Idaho ” companies are franchises or iBuyer’s that purchase homes in targeted areas with the intent to resell the property.
A local home buying company like Gem State Cash Offer is family-owned and operated. They live in Idaho and have a vested interest in the community. They want to help homeowners in Idaho facing difficult situations and need to sell their houses quickly. Whereas selling to a large company won’t offer that personal connection, and the process may come across as a business transaction.
Homebuyers Don’t Pay Top Dollar
The last thing to consider when selling your house for a cash deal, typically homebuyers pay below market value for houses. They aren’t going to lowball you or try to take advantage of your situation. In fact, they want to help you get through a tough time by buying your house quickly and for a fair price.
In cases where a property needs a lot of costly repairs, it may be worth selling to a home buyer. However, if your house is in good shape or a new home and doesn’t require any repairs, you might be better off using a realtor or listing the house yourself on the market.
Some homeowners see the value in not paying out of pocket for repairs, realtor fees, and dealing with months of uncertainty.
Other homeowners, however, would prefer to do the work themselves and see if they’ll make the money back once they sell. If you’re in this mindset, selling your house for cash might not be the best option for you.
However, if you want a fast, hassle-free home sale that doesn’t involve weeks or months of waiting around wondering if it will sell- a cash home buyer is the best option for you!
Selling your house doesn’t have to be stressful or complicated. By working with a cash home buyer, you’re able to avoid any surprises and sell your house quickly and easily. Keep that in mind if you were to work with one of the cash home buyers in Meridian, Boise, Eagle, or Caldwell.
If you’re considering selling your home, be sure to contact a cash home buyer. They offer the best solution for those who need to sell their house quickly and without any hassle. With a cash home buyer, there are no realtor fees or hidden costs and fast closings. You can decide when you want to sell your house and how quickly you want the process to move along. Working with cash home buyers is an excellent option for those who need to sell their homes quickly without any hassle!
Feel free to contact us today if you’d like to get a cash offer for your Idaho home!