You’re curious about selling your home and would like to get a cash offer, yet, you’re also curious about how to go about it… well it’s actually very easy with HomePoint! This is Justin Dion, Realtor with eXp Realty & Investor and founder of HomePoint LLC. Now, to get started on getting a cash offer on your home, all you have to do is sign up for a free consultation on our website selltohomepoint.com.
Let’s dive into the pros and cons of getting a cash offer!
The first advantage of selling to a direct home buyer is that it’s fast. Going the traditional route with an agent or going (For Sale By Owner), there is no guarantee that your home will sell at all. Assuming you’ve priced it right, your home should get offers. But it can take months to get the kind of deal you’re looking for. Realtor.com data suggests that once a home is listed, it takes on average about 65 days to sell. Once you’re under contract, escrow can last 30 to 60 days – or longer – and that’s assuming everything goes smoothly. All that said, if you need money fast, going the traditional route definitely has drawbacks. Online direct homebuyers, like HomePoint, will get you an offer in a fraction of that time. HomePoint will be able to give you an offer within 24-48 hours and can close in as little as 7 days.
Another advantage of selling your home to a direct homebuyer like homepoint is that there are no repairs needed. If you’re in a hurry, or don’t have cash-on-hand, the idea of doing all the things – little and big – needed to maximize your home’s value may not be practical. Cash sales are “as is.” You still need to disclose any known defects or issues but it will be up to the next guy to fix them. If you know your home needs major repairs, and are not in a position to do them, an all-cash offer may be the way to go.
Furthermore, in selling to HomePoint, there are no contingencies. A traditional home sale is likely to come with contingencies. Virtually all will have a home inspection contingency, and most buyers will also want a mortgage contingency and perhaps an appraisal contingency. All of these are opportunities to delay or completely derail the sale of your home.
Now let’s dive into the disadvantages of selling to a direct buyer.
The main disadvantage is that you will likely get less money. If your primary concern is about getting top dollar for your home, then an all-cash deal might not be the best route. Investors, whether traditional or online, buy homes in order to resell them. They wouldn’t stay in business long if they bought high and sold low. They need to make a profit. Still, this might not be a bad option for you once you factor in the costs of fixing up your place, and selling it the traditional way which is likely a 6% real estate agent’s commission.
An all-cash offer is likely to be below the market value of your home. But it is also fast and convenient. Only you can decide which of these factors are most important in your particular situation.
The good thing is working with a company like HomePoint, they can offer both solutions as within their team are licensed real estate agents as well as they are a direct buyer which can provide you a cash offer.