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Selling your house to a cash homebuyer is a great option for all kinds of homeowners in Indianapolis. In fact, there are countless circumstances where this might be the best choice for you. Perhaps you own a property that is in major disrepair and either wouldn’t attract many buyers or wouldn’t meet the requirements for a home loan. Or perhaps you and other family members have inherited a home and want to quickly split the proceeds three ways. The same holds true for couples going through a divorce. Maybe you simply don’t want to go through the hassle of working with and paying for an agent while relying on a closing that could take months to come. Whatever the reason, if you’re looking to sell your house for cash, this dummies guide will help walk you through the process.
This step is actually much easier to do when selling your house for cash compared to when you sell it to a homebuyer searching listings through their real estate agent. That’s because you don’t have to get your house show-ready. Instead, simply get it cleaned up and organized so a potential investor buyer can see the structure of the home. Also keep the yard tidy to make a good first impression. Even though most cash buyers are professionals, they’re still people. That means you can’t change what that first impression does to them. Give them a reason to feel like they don’t have as much work cut out for them in making the property shine.
Something to avoid is making any major repairs or upgrades. That’s because most buyers aren’t looking for a place to buy for themselves. Most are investors or property managers who want to make their own improvements that are appropriate for the neighborhood, then sell the property at a profit or rent it out to tenants. Spending your own money on upgrades is a waste of your time and funds. A cash investor would rather see savings in the home price than see new changes just to make a house seem more appealing.
Whenever you sell a home in Indianapolis, setting the right asking price is vital to attracting the right buyer. If you set it too high, you run the risk of isolating cash buyers, especially if they have a certain maximum number in mind. If you set it too low, you may not earn as much as you could, even if you’re rather desperate for a quick closing. Do your research in your neighborhood and look at how other recently sold homes have sold and be willing to give a deep discount (at least 30%) to attract a cash buyer. Keep in mind a solid comparable is one where the property sold quickly; if a property sat on the market for several months, that is not the most realistic comp.
Some people like to add a buffer to leave room for negotiations. However, most cash buyers know the local market extremely well and are straightforward to work with. Even though you’ll likely receive a slightly lower offer than a traditional sale, you benefit in several ways. First of all, you don’t have to worry about the closing going sour because of financing falling through. You also get your cash fast; in fact, we typically close in under 30 days and in some cases can even close in as little as seven to ten days. Finally, and perhaps most importantly, you don’t have to worry about paying real estate agent fees. That amount usually skims off 6% of the final sales price, which doesn’t happen when you work with a cash buyer like us.
It may sound hard to believe, but you don’t even need to list your house with a real estate agent to get a cash deal. There are plenty of cash buying companies like us available to make a deal so that you can avoid paying real estate agent fees. However, it’s important to work with someone who has a strong reputation in the community. At Solid Rock Houses, for example, we are a local married couple, one of whom is a full time real estate agent! That means we know the market, we know what brings about successful closing, and we know to do it quickly. If you’re interested in selling your house for cash in Indianapolis, don’t hesitate to contact us for help. We’re happy to answer any questions you may have about the process and how we can work with you to get your house sold and cash in your pocket.