Selling your house for cash to a relative is always beneficial. Not only do you get to stay in your home, avoid dealing with real estate agents and customers, but the valuation is all cash! Asking family members for help in this matter will likely be more than welcome as cash is always appreciated. Here are some additional advantages of selling your home directly to someone in your circle:
Benefit 1: Staying in Your Home
Being cash-rich makes it much simpler to stay put when you purchase your house with cash. You avoid all the closings, inspections and hassle associated with real estate transactions. Plus, you have the freedom to stay put for however long desired without worrying about moving out. If you’re tired of dealing with a frustrating home sale, this link may offer a better option: https://www.as-ishomebuyer.com/sell-my-house-cash-memphis-tn/.
Benefit 2: Steer clear of buyers
Realtors are notorious for overpricing houses. Remember, their commission is typically between 5-6% of the sale price, so it doesn’t matter to them whether your house sells at a fair or overinflated value as long as they receive full commission. A real estate agent will do anything possible to sell your house quickly, such as listing it online, using classified ads, or even Craigslist.
Benefit 3: Avoid Closing Costs
Closing costs typically account for 2-5% of a home sale price and must be paid by the buyer, ranging from $5,000-$40,000+. Therefore, it’s best to minimize these expenses as much as possible.
Benefit 4: Save On Agent Fees
Agent fees typically amount to around 2-5% of the sale price, so they should be avoided whenever possible.
Though it’s not a popular reason to sell your house to someone close to you, you can save yourself the cost of an agent fee by doing so.
Benefit 5: No Relocating Required
It can be an annoying hassle to have to move out of your house when selling it. But with family members, there’s no need to worry about relocation – all that has to be done is move into their home and enjoy your newfound peace of mind!
Benefit 6: You can quickly sell your house for cash without the stress of an auction.
Selling a house through auction takes twice the amount of time as selling through a family member. Not only do you need to deal with customers and try to get them to sign on the dotted line, but you must also wait for the auctioneer to announce the opening bids.
Benefit 7: Selling your house for cash without worrying about bank financing
Banks require a 6-month period of financing before they will loan you any money, plus there will be lots of closing costs and points on the loan.