When most people think about selling their home, the first natural step is to call a real estate agent. From there, the standard list of to-dos includes things like “stage the property” and “schedule open houses.” But what if there was another option?
For lots of homeowners, selling on the Multi Listing Service (MLS) is the only way they know. If they can’t find a Realtor to take on the sale — they’re lost. Worse, they might give up and just let the bank take the home back.
The reality is that working with an all-cash buyer is a very real possibility for most sellers. Let’s bust five myths you may have heard (or thought) about accepting an all-cash offer from an investor!
Cash Buyers in Sacramento: 5 Myths Busted
1. You Will Get a Low-Ball Offer
When you consider listing your home with a real estate agent, you hope for a bidding war. You imagine listing the property and having multiple offers within the week. So why would you go with an all-cash offer from a single investor? Some people think working with an investor who is buying the home strictly for financial gain (as opposed to making it a home) will only offer a low-ball amount and be unwilling to negotiate.
In reality, an investor could see the value and potential in your property and offer you a fair amount. There could be room for negotiation and you can advocate directly with your buyer for a higher price. You won’t have to go through Realtors like if you were selling on the market.
2. They Over Promise
Some people look at cash home buyers as used car salesmen. They think the investor will promise the world but then drop their offer at the last minute or try to change the terms. All-cash buyers in Sacramento want the sale to go just as smoothly as you do! In fact, because a cash buyer benefits from efficiency, they usually want to be as transparent as possible.
3. The Process is Less Reliable
The process of selling a home on the market seems more streamlined. You accept an offer, enter escrow, wait for inspections and the loan to come through, and then close. The reality? Traditional home sales fall through all the time. Working with an all-cash buyer is not inherently less reliable than a regular sale, where the buyer’s lender could fail to fund the loan or the buyer could just change their mind.
4. You Have Fewer Protections
Working with a licensed Realtor makes people comfortable. They have lots of contracts to sign, making the process feel very official. But should you really feel more vulnerable when you work with an all-cash buyer?
If you choose to accept an offer from a cash buyer in Sacramento, you will also sign a contract. Your buyer will be bound by the contract, just like a realtor and another buyer would be held to theirs. As long as you get important details in writing, you can feel just as confident accepting an offer from a cash buyer.
5. You Can Always Make More Money on MLS
A lot of people say they’re hesitant to work with a cash buyer, because they think there is always greater sales potential on MLS. Even if they’re cash buyer is trustworthy and offers something fair, many sellers will hold on to the hope that the open market holds a better offer in store.
There are several times when working with cash buyers in Sacramento could actually be the better option financially:
- When you’re facing foreclosure. If you put your home on the market because you’re desperately trying to avoid reaching the point of foreclosure, selling it fast is vital. Every month your home sits on the market is another step closer to the bank taking over. A cash buyer can get you money faster and help you avoid the financial consequences of losing your home to the lender.
- When the market is down. Maybe you’re current on your mortgage but your neighborhood isn’t in demand. Your home could sit on the market for six months. All the while you’ll be carrying mortgage and maintenance costs. If you’re trying to buy another place on contingency, you could even lose that home and have to buy something more expensive in the end. A cash buyer could still see potential where traditional buyers don’t.
- When the property has been vacant. If you have an investment property that you haven’t been renting out, things can get costly. Not only will you have to pay taxes and maintenance on a home that isn’t bring in any money, but it could be deemed a nuisance by the city if you don’t do upkeep. Sell it to a cash buyer and worry no more!
If you need to sell a house near Sacramento, we can help you. We buy Sacramento, California houses. We have references.
We buy properties like yours from people who need to sell fast.