Get to Know Your Real Estate Options When Selling Kansas City Residential Property on a Tight Timeline
Even if you’ve never sold a home before, you’re likely familiar with the general process. For most, that entails hiring a real estate agent you can (hopefully) trust, cleaning and staging the property for tours, and then hoping the right buyer comes along. Of course, you’re at the mercy of the market and whatever strings your agent can pull to move the deal along.
Residential real estate sales can feel like a rollercoaster. The market ebbs and flows, and real estate consultants and agents are perfectly happy to wait it out to maximize their piece of the pie on the sale. Meanwhile, homeowners get stuck in limbo. The headache of keeping the property spotless, scheduling open houses, and dealing with fickle buyers can eat countless hours.
Selling a home is also incredibly stressful and throws families out of their normal routine, especially if the market takes an unexpected turn or a deal falls through. The process of listing, marketing, and negotiating can feel like a second job.
When homeowners work with real estate agents, it’s not necessarily because they want to. It’s because they think they have no other real estate options. Fortunately, certain real estate investment groups specialize in connecting sellers with cash home buyers, providing options that traditional agents don’t offer with much faster turnaround times.
What Does a Cash for Home Deal Entail?
A cash offer or all-cash bid means that the buyer of the home purchases the property without a mortgage or other type of financing. Cash home buyers are more common than you may believe. According to recent data provided by Redfin, approximately one-third of U.S. residential properties were purchased with cash.
Pros and Cons of Working with Cash Buyers
Naturally, you might be wondering, “What does the buyer of the home get out of making a cash offer?” Statistically, individuals using cash wield more bidding power. According to Redfin, cash for home buyers are four times more likely to win a bidding war over other prospective home buyers.
So, what are the pros and cons for sellers who receive an all-cash bid?
- Pro: Cash deals can close in a matter of days and are at little risk of falling through. By comparison, a financed loan requires 30 to 45 days to close. During that time, there are several potential pitfalls that can delay the deal.
- Pro: Cash bids require no appraisal, allowing both parties to dodge that part of the process.
- Pro: Cash for home sales typically have fewer contingencies.
- Pro: The seller can immediately access their money at the close of the deal.
- Con: The cash offer may be lower than financed offers.
- Con: Cash buyers may not be as thoroughly vetted as other buyers.
- Con: The cost of improvements and repairs may be deducted from the final cash bid.
Cash deals are best suited for sellers who need access to their funds as quickly as possible, are trying to relocate out of state, or who prefer not to wait up to 45 days for their deal to close.
Getting to Know Your Real Estate Options
Homeowners aren’t required to work with a real estate consultant or agent. That’s a common misconception among sellers who aren’t familiar with the ins and outs of the real estate industry. By working with a trusted Kansas City real estate investment group, sellers will learn about their options beyond the traditional agent route.
For example, rather than listing your home, a real estate investment group will help you find a cash for home offer that provides a quick close. This saves you countless hours of keeping your place spotless for showings and all the administrative work associated with home sales.
The process for providing sellers with their real estate options is simple:
- First, the seller provides some basic information about the home.
- Next, the investment group asks about your goals for the sale, including your preferred timeline.
- Finally, the investment group provides the real estate options that align with your goals, including an expedited cash close option.
Most real estate investment groups provide free consultations so that homeowners have all the relevant information they need to make an informed decision. Investment groups also work with sellers in non-traditional circumstances, including:
- Pre-foreclosure
- Probate and inheritance
- Divorce proceedings
- Fixer-uppers
Sellers who wish to learn more about residential real estate can contact an investment group directly.
