Wichita Real Estate Blog

Is a Cash Home Sale Right for Me?

When it comes time to put the house up for sale, homeowners have several options. They can choose the traditional route by partnering with a real estate agent to list and sell their home. Or they can work with one of the many home buying programs that have popped up in recent years. Both avenues offer the opportunity for a cash purchase, which is enticing. But is a cash home sale right for you? Below are a few things to consider before choosing a cash home sale in Wichita.

How Quickly Do You Want to Move?

Consider how quickly you want (or are able) to move out of your current home. Cash home sales have a much quicker turnaround time. Sometimes closing after only a few short weeks.

If you can move quickly or need to get out of your current home ASAP, selling your Wichita home for cash could be your best bet.

Home Appraisals and Inspections 

A cash sale differs from a traditional home sale in several ways. In a traditional sale, you are required to have an appraisal done in order to determine the value of your home. This is essential because it will determine the loan amount. In a cash sale, since there is no loan being issued, you don’t need to have an appraisal done unless the buyer insists. Without an appraisal, the process is shortened. Similarly, you are not required to have your home inspected unless the buyer asks for it. If you do choose to have an appraisal and/or an inspection, this will typically take about a week to complete. 

For homeowners that need time to find a new home, it would be best to go through the traditional process. It takes longer and will probably include more steps, but it gives you more time to find your next place.

Are You Willing to Leave Some Money on the Table?

When looking to sell your home for cash in Wichita, it may sound like a great deal on the surface, and it can be. But take enough time to consider the offer. There might be factors that you have yet to consider.

If it is an individual purchasing a home for themselves or as an investment property, you may not receive the highest offer. There is also the risk of not having enough money for closing costs and related contract fees. However, you will have a large sum of money for the immediate grand-scale purchases.

If you want to lighten the load of the sales process and get that instant cash with a higher offer, consider working with a company that purchases homes for cash. Working with a home buying company is a good option when you need to sell quickly without the added hassles and stop-gaps that come with the traditional sales process.

Whether selling your home for cash is the right decision or not will depend on your unique goals and personal situation. So if you need consultation for selling your Wichita home quickly, call Professional Home Buyers today!

 

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