Debunking Common Myths about Selling a House for Cash

December 7, 2021
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Despite how long the practice of selling a house for cash has been around, there are still numerous misconceptions. There are so many success stories over the course of several years. However, some people are still very hesitant. It’s actually quite convenient to sell a house for cash, and there are benefits that the traditional house-selling route does not offer. 

Here are some of the common myths about selling a house for cash, debunked!

THE MYTH:

A house will only sell for cash in perfect condition

THE FACT:

Cash buyers have absolutely zero care as to what the state of house they’re buying is in. They are the kind of buyers who are more than willing to take on things as-is. This means that a home seller who may be trying to sell a house that needs major repairs can sell to a cash buyer with no problem.

THE MYTH: Marketing the property is key for more profit

THE FACT: Visibility to potential buyers is definitely increased when a house is placed on the market. Contrary to popular belief, it doesn’t equate to making more money on the sale. The longer that a house ends up sitting on the market, the fewer offers it will get. Reaching that stage will lead sellers to make a tough call: they will have to lower their selling price.

That said, there are several factors that can affect how a house will end up performing on the market. It can include the season, the market’s strength at the time, and the number of buyers vs. the houses up for sale. Additionally, a house that’s not priced fairly by a real estate agent will end up dragging.

THE MYTH: There are only ever low-ball offers from cash buyers

THE FACT: When cash home buyers come up in conversation, their reputation tends to precede them. People will usually say that all-cash buyers will offer way less than the house’s market value. It’s entirely mythical. If anything, this is usually word of mouth seeded by real estate agents. Basically, it’s a tactic for them to get rid of their competition.

Cash buyers of homes are usually knowledgeable investors in real estate with cash on hand. These people have targeted areas in mind, so they’re not just randomly dropping cash on houses. When offers made are below a house’s valuation, they are never low-ball ones. Many people generally don’t realize that working with real estate agents will yield offers that are also lower than the house’s value. Additionally, real estate agents take several expenses into account when they put a house’s selling price together, like agent fees and closing costs. 

The offer of cash buyers is actually quite close to a house’s actual value.

Conclusion

The practice of selling a home for cash has been done successfully for years now. However, it’s still surrounded by plenty of misconceptions. Many think cash buyers only make low-ball offers (never), cash buyers only get perfect condition houses (they buy as-is), and more profit is made through marketing (not necessarily).

Now that you have all the facts, it’s time to connect with reputable cash home buyers in Arizona. Sell for Cash AZ can’t wait to buy your house no matter what state it’s in. Reach out to us today!

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