Living in Durham County, North Carolina is great because of the fast-growing high-tech scene that provides numerous job opportunities and the fantastic social scene. However, people’s circumstances are constantly changing. Therefore, you might have to sell your home and relocate at some point. Once you decide to sell, you should determine what sale is best for you. So, here are some of the benefits of accepting a cash offer on your Durham County home in NC.
Accepting a cash offer on your Durham County home in NC is less risky
Since buying real estate is never cheap, many homebuyers need financing to afford it. However, this is risky for the seller because the lender can back out of the deal. And without that loan, the buyer will have no other choice but to back out as well. But when it comes to cash offers, the buyer has enough personal funds to cover the cost of the property. Thus, it’s less likely for the buyer to drop out of the deal.
Cash sales don’t require an appraisal
When a homebuyer requires a loan to afford a home, the lender asks for an appraisal. This makes sense since the lender needs to know the property is worth at least as much as the loan, should anything happen in the future. However, for the seller, this can be risky. If the value of the home is lower than the contract value, the lender can reject the loan. Or, you as a seller might have to invest a lot of money in repairs to be able to sell. Therefore, to avoid the risks of an appraisal, you should consider a cash offer.
Cash sales close faster
One of the biggest problems of real estate sales that involve loans is the lengthy process. Because of all the paperwork and strict requirements, the sale can take between 30 and 60 days to close. That is risky because a lot can happen in the meantime, and the sale might not go through. However, accepting a cash offer on your Durham County home in NC means that you can close the deal in about two weeks.
Therefore, it’s less risky, enabling you to move out faster. For example, if you’re relocating from North Carolina for a job or various personal reasons, you can’t afford to wait around for a very long time. Thus, accepting a cash offer means you can pack your bags and start planning your interstate move. The best way to go is hire movers to ensure a simple transfer across the country. Your sale was quick and simple, why wouldn’t your relocation as well?
Accepting a cash offer can help you with messy situations
Sometimes, people find themselves in messy situations and are forced to sell their homes. For example, you might be facing foreclosure, splitting the equity in a divorce, or simply needing the money for something important. In such cases, you are pressed by time to sell your home. Therefore, accepting a cash offer in Durham will help you get out of these problematic situations faster.
Accepting a cash offer means less paperwork
When you’re dealing with real estate agents and lenders, there’s a lot of paperwork. It is time-consuming and stressful. However, when you sell your home to a professional home buyer, you can avoid that. This is because cash sales require less paperwork, and in many cases, the professional home buyer can take care of all of it. So, all you will need to do is review the final documents and sign.
Accepting a cash offer means fewer fees
Everyone knows that are many fees involved in the sale and purchase of a home. And unfortunately, you can’t avoid most of them. However, cash offers can help you avoid some. Firstly, both you and the buyer will avoid the lender and mortgage fees since there’s no need for a loan. Secondly, you can avoid the fees of a real estate agent since you don’t need to hire one for cash sales.
Accepting a cash offer helps you save money
Apart from the fewer selling fees previously mentioned, accepting a cash offer on your home can help you save even more money. When you’re dealing with a traditional sale, you have no way to avoid a home inspection. And if the inspection report identifies some significant issues, you will either have to take care of the repairs or lower the selling price to account for the repairs. However, when dealing with a cash offer, you can avoid the home inspection and sell the home as-is.
Cash sales are less stressful
When you sell a home the traditional way, there’s a lot of stress. Specifically, you have to thoroughly clean and stage your home. And you have to keep it that way throughout the entire viewing process. This is particularly stressful when you also have a job and kids to take care of. So, it would help if you considered accepting a cash offer on your home to avoid all this stress.
Cash sales don’t require negotiation
The great thing about cash sales is that you can avoid negotiation. You just set a firm price and accept the offer that meets that price or exceeds it. This is particularly helpful if you’re selling your Durham County NC home without hiring a real estate agent. In general, these professionals are the ones that take care of the negotiations because they have the proper skills and experience. So, if you don’t have any experience with negotiation, a cash sale is the safest bet.
Regardless of why you decide to sell your Durham County home in North Carolina, you have to determine which type of sale is best for you. You need to consider how much time and money you can and are willing to invest in the selling process. You should also consider the benefits of accepting a cash offer on your Durham County home in NC. As you’ve seen, this option helps you sell faster, with fewer costs and less stress.