If you’re a Vegas home seller, you have many options when it comes to selling your property. However, with interest rates rising, the real estate market is changing fast. That may impact your ability to make the most of the sale of your home. Selling your home takes significant time and effort, but a home buying professional like Gr8housebuyers helps take the hassle away. With busy lives, it can be difficult to sell a house and even overwhelming. Fortunately, there is an easier way to sell a house: selling to a local and trusted cash buyer.
Here are five reasons to consider a cash sale in today’s changing real estate market environment.
Reason 1: A Slow Home Sale May Mean a Lower Price
Interest rates are going up. According to Fortune Magazine, the average mortgage rate has jumped more this year than it has in a century.[i] That is pricing some home buyers out of the market.
It’s not over yet, either. The Federal Reserve is now forecasting at least six monthly interest rate increases this year. [ii] This will impact more home buyers going forward. If you sell your house the conventional way, your transaction will likely be affected. As rates rise, borrowers will have more difficulty qualifying for mortgages. Lenders may require them to increase their down payment to make up the difference. As a result, fewer buyers can afford your house. That can mean a slower sale and probably lower and fewer offers. So in this unique environment, selling your house fast may be wise.
Reason 2: A Conventional Home Sale Takes Significant Effort
Because most Vegas home buyers use financing, your transaction will most likely require an appraisal by a lender. With increasing rates, appraisals will likely be an even bigger challenge than they were in the past. When appraisals come in low, lenders expect the buyer to make up any difference in cash, or the lender may not approve the loan at all. Since not all buyers can increase their down payment, or may rely on certain traditional loan qualifications, that can mean higher numbers of transactions failing and the buyer’s financing falling through.
So that may mean you get partway through the transaction, and the buyer is forced to back out. That means wasted time for you as it puts you back at square one.
Furthermore, listing a property with a realtor or a big institution typically takes more time to sell, requires more paperwork, and can be a more complex process.
A professional cash home buyer like Gr8housbuyers, is highly likely to offer more security for a smoother transaction on the sell of a house.
Reason 3: Substantial Effort is Required to Sell A House
Even in the best market conditions, selling a home still takes significant time and effort. First, you’ll usually need to do substantial cleaning. Or, even if your home is perfectly tidy, you’ll most likely need to declutter.
Homes show best when they are depersonalized, which means you need to store photos and small personal items out of sight. Ideally, you’ll also focus on creating curb appeal by sprucing up the outside, which usually means more cleanup. Depending on the condition of your property, this can take a few weekends or even a few months.
Once the property is ready, you’re not done yet. You’ll need to get the house ready for showings and probably need to leave the house anytime someone wants a look.
On the other hand, if you work directly with a cash buyer, you can avoid much of this hassle. Cash buyers, especially professional ones that are looking at your home as an investment, don’t expect you to do all that presentation work. They can look past the clutter and deal with the house in its current condition. You don’t need to look further to find the right home buyer… Gr8housebuyers can make the sale of your house stress-free. Instead of giving up your next weekends, you can simply get a price from them and avoid the extra work, cleaning and maintenance. If you want to turn your unwanted house into cash fast, Gr8housebuyers can save you time and money when you sell your house to them.
Reason 4: Commissions and Other Expenses Reduce Your Profit
Another downside of the traditional real estate transaction is the layers of costs involved. As a seller, you pay for the majority of these real estate listing expenses. The largest is usually the commission paid to real estate agents. That alone can account for up to 6% of the total home sales price. On top of that, you need to pay closing costs for escrow, title and other fees. These home sale costs add up quickly and can often take tens of thousands out of your profits. As a high-performing home cash buyer purchasing homes in any condition directly, may be able to help you save on many legal procedures and legal fees, banking charges, closing costs, holding costs, brokerage and other listing fees, moving expenses, and much more!
You may also receive traditional home buyer concessions or home repair requests during the escrow process.
You can avoid most of these fees or costs by working directly with a house cash buyer. Plus, Gr8housebuyers® can save you money on local moving expenses, clean-up, repairs, and much more! Isn’t it better to keep more savings and have a better return for the sale of your house?
Ultimately, if you do decide to market this home on the market and list with a realtor, we can also refer you to our reputable colleague who would be happy to assist you!
Reason 5: Traditional Home Sales are not Usually Flexible
When you enter into a traditional real estate sale, the entire deal will be quite structured. Standard deadlines and specific dates will be assigned, which cannot be easily adjusted to your home selling situation. What if you have tenants, and want to make the sale of your home simple and hassle-free, or you haven’t found a new place yet? Or, if the traditional home buyer wants to move in, even if you need more time, you may be out of luck.
It can be different with a house cash buyer who is buying your property as an investment and is flexible like Gr8housebuyers. They may be flexible to deal with tenants, adjust the closing date, or even hold-back (lease-back) the property to you!
Benefits of Working with a House Cash Buyer Agency
You will occasionally find cash buyers among the other traditional home buyers. Still, if they come with a real estate agent, you may not avoid many of the other problems and the expensive agent commissions.
But you can get the most flexibility by dealing with a cash buyer agency that professionally buys and sells houses. It’s essential to compare your home selling options, and here’s what dealing with one of these firms can do for you:
- No showings or cleanup required. These are professional home buyers who who buy as-is and can look past the current property condition, so you don’t have to worry about preparing your house or making improvements for a home inspection.
- No appraisal is required. Opting for a cash sale with no repairs, also means no cleaning, demolition or dismantling of a mobile home, and also means no appraisals. Mortgage lenders typically require inspections or appraisals to determine the value of a home. Gr8housebuyers buys houses cash and isn’t a mortgage lender so, since you don’t need a traditional inspection, you can sell your house faster to them.
- You can close when you want, not according to the buyer’s requirements. Selling your house cash to Gr8housebuyers provides you with the option to control the clock on the closing of your house. You don’t have to worry about dealing with other home buyers and their hassle, any financing contingencies, or be worried about other complexities along the escrow process. Gr8housebuyers provides the altruistic experience every homeowner deserves when they sell their house. They’re ready to purchase any house as-is in Las Vegas, NV and other surrounding Vegas areas.
- You can even hold-back (lease-back) the property if needed, so you will have more time to find your next home with your cash in hand.
- You can sell your home with tenants in place.
- Local moving and assistance
- Have more control of your privacy by selling your house directly to a seasoned off-market cash home buyer, so your house does not appear for sale to the public. Preventing the sale of your home from appearing on public channels will help prevent strangers from visiting the property, and provide the home owner with contentment.
It can be a relief to learn there are cash home buyers like Gr8housebuyers that buy houses as-is without you making repairs and saving you a lot of hassle. The amount of money you can save when selling a home this way should definitely be considered, plus Gr8housebuyers provides a free home complimentary consultation!
Now, of course, there are pros and cons to each method of selling your house. But dealing with a cash buyer agency such as Gr8housebuyers® that provides multiple solutions can help keep your home sale smooth, potentially more profitable, and stress-free. Plus, in this rising interest rate environment, time is your friend, so selling a house fast can be a smart move.
Cash Home Offers—How Does it Work?
If you’ve never used a cash buying service before, it can be hard to know what to expect. Here’s how the process works:
Contact Gr8housebuyers® and request a quote. It is provided free and with no obligation. You may be asked a few questions about the condition of the home. If your home meets the company’s requirements, typically, you will be asked to select a time to meet at your house, so they can discuss your options with you, and view the interior condition of the home.
At our firm, we will meet with you briefly at your home to review the property and answer your questions. The meeting usually just takes an average of 10 to 15 minutes.
We will provide you with a written quotation. If the quote for your house is acceptable, you can move forward by choosing a closing date and time to move that is best suited for you and your family or tenants. Usually, you can close in as little as seven to 10-days. That means you will be free of mortgage, tax, insurance and utility bills within a very short time frame. This is much faster than a traditional home sale that often takes several weeks.
Avoiding Negative Home Selling Experiences
Over the years, we’ve helped many homeowners sell their house quickly and easily. Here are our best tips for dealing with a cash house buyer or agency:
- Always get multiple offers from them. Your home is a significant asset, so it is worth your time to research and find the best option. Gr8housebuyers is known to encourage the homeowner to shop around and get quotes because they’re confident they are making legit home offers. Gr8housebuyers provides multiple proposals when you inquire for a quote on your house. They have 3-solid options available to purchase your house, but they focus on making the best recommendations on the homeowner’s preferences.
- Check the background of the firm you’re dealing with. You want to ensure they are established and trustworthy, so check their reviews. If they don’t have good reviews from other homeowners, then don’t waste your time with a company that may never close on the sale of your home. It’s also important to make sure the cash home buying company that makes you an offer doesn’t ask for a significant price reduction as all home buyers should make an effort to keep their promise and price.
- Always ask about all of the fees and costs involved. What matters is what you end up with after the sale of your house. You don’t want to be lured by a higher price that is later reduced by hefty fees, netting you less.
Interested in Selling Your Las Vegas Home to a Top-Rated Cash Buyer?
Gr8housebuyers® is a premier real estate investment company that specializes in buying houses for cash or terms, and acquiring real estate with respect and integrity. We are actively buying houses that are difficult to sell or need to sell quickly, and compassionately assisting homeowners.
Gr8housebuyers® provides reassurance, hope, relief, and options to home sellers that they can depend on. We are a family owned professional home buyer that is rated #1 by many locals!
We also love to collaborate and create significant opportunities for our reputable network of investors and real estate agents. Our talented team of altruistic professionals focus on understanding the homeowner’s real estate selling goals or scenarios, and most importantly, their Family’s best interests!
Our drive is to deliver real estate integrity and guidance that makes stressful home selling situations simple by providing honest & caring solutions! Our team helps make a home selling experience seamless, easy, and convenient! We care about every homeowner selling a house and want you to get the most for it.
If you’re selling a house? We can help buy your house by providing clarity, certainty, and convenience.
Sell your house to Gr8housebuyers® easily. We want to buy a house and give you a great cash offer today!
We believe in 100% full transparency and clarity to all our clients.
Call us today at (702) 291-7577 for a free, no-obligation evaluation, or visit us at https://www.gr8housebuyers.com.
[i] https://fortune.com/2022/03/25/mortgage-rates-just-made-biggest-jump-this-century/
[ii] https://www.cnbc.com/2022/03/16/new-federal-reserve-projections-show-six-more-rate-hikes-this-year.html