13 Jun Is It Necessary to Repair Your Home for a Cash Buyer?
If you want to list your home for sale, there’s extensive preparation needed. Most importantly, you need to repair any problems, replace broken appliances, and do a deep cleaning and decluttering. By contrast, a cash buying company will buy your home with no repairs necessary.
Cash Buyer vs. Cash Home Buying Company
First, it’s important to understand the difference between a cash buyer and a cash buying company. A cash buyer is someone who can pay you the full amount for your home without needing financing. There are all kinds of people who will pay cash for your home, but some of them might request repairs.
Cash home buying companies, on the other hand, are not only cash buyers but they are also in the business of buying homes and reselling them. They don’t require repairs because they don’t want to use the home as a residence. They are property investors.
What Repairs Can Cost You
It’s no secret that home repairs and renovations are expensive. For that reason, many people put off doing them unless it’s absolutely necessary. They make do with leaky faucets, draft windows, or flooded basements.
But on the real estate market, home buyers want a home they can move right into, and they’re not willing to put up with problems. They may request that you spend thousands of dollars to repair your home or pass on making an offer.
How Cash Buying Companies Can Help You Save
Cash home buying companies will make an offer on your home within 24 hours, and they’ll buy your home “as is,” without asking for repairs. There’s no need for you to spend money (that you may not have in the bank) to fix up the house in any way.
The speed of a cash sale also saves you money because you won’t have to pay ongoing costs like utilities and insurance. Plus, cash home buying companies don’t charge commission or closing fees.
If you can’t afford to make repairs on your home before selling it, or you just don’t want to, selling to a cash buying company could be the right decision for you. The offer is always no obligation, so there’s no risk in checking it out.
Need to sell your Phoenix area home quickly? Click here to learn more about selling to a cash buying company.