Pro #2: Less Risk Of Buyer Backing Out
According to recent data, 1 in 7 pending house sales are getting cancelled. There are only two reasons for a cancellation: the buyer changes their mind, or they can’t secure a loan. That won’t happen with a cash-backed offer. A cash-backed offer guarantees the buyer won’t back out due to financial issues, as there’s no financing to secure. When a company offers a quick cash sale, it means they’re ready to purchase your house.
Pro #3: Avoid Formal Inspections and Appraisals
A typical house inspection can take up to six hours to complete. After that, you'll receive a list of things that need to be fixed. Do you really want to spend money on repairs for a place you're moving out of? A cash transaction bypasses the need for a house appraisal or formal inspection, saving you even more money upfront.
Pro #4: Fast Cash
There are many reasons to sell a house that stem from the need for cash. You might be going through a divorce and need to divide assets, facing a job layoff, or looking to take early retirement by relocating to a smaller home. The money from a cash sale can help you move into an affordable place and leave you with plenty of funds to enjoy life.
Con #1: You Might Get a Lower Cash Amount
A study conducted by the UC San Diego Rady School of Management found that an increasing number of homeowners are willing to accept cash offers that are, on average, 10% less than what mortgage buyers might offer. The reason for accepting cash is to avoid the risk of a deal falling through and to benefit from a shorter closing time. For many homeowners, it's simply not worth dealing with the hassle of a traditional house sale.
Con #2: You Might Pay High Hidden Costs
Because cash home-buying companies are so popular, they've appeared all over the country, eager to buy whatever they can. However, just because they have the cash doesn’t necessarily mean their offer is a good deal. Many of these companies offer a quicker sale but also charge service fees as high as 13%, which comes off your final amount. Fortunately, we don’t operate that way. The cash offer we make to buy your Miami house will be put in writing, with no hidden real estate agent fees or added closing costs.
Selling a house for cash isn’t the right choice for everyone. However, if you want to get cash and avoid the expense of fixing up your house, selling for cash is a great option. We’re ready to buy your Miami house fast and make the highest cash offer. Whether you're looking to sell quickly or simply want a fair offer, we’re here to help. You can sell your house to us with no obligation to accept, and we’ll buy your property fast. Reach out to us at (786) 321-5856 or through our website with any questions.