So, you’re thinking of selling your home for cash in Sacramento? You’re not alone. While 85% of home sales go through a real estate agent, a traditional sale isn’t the only way to transfer your property to a new owner.
When time and ease are more important to you than waiting for competing bids, an all-cash sale is just what you’re looking for.
How much do you know about all-cash offers? It’s normal to have questions, because it often sounds too good to be true. The reality is that investors who have bought other homes for cash can facilitate a seamless home sale.
Before you agree to a home sale, though, there are some things to know. Read this list before you sell your house for cash in Sacramento!
1. You May Not Want to Invest in Fixes
When you sell your home through a real estate agent, they’ll probably recommend decluttering the space and repainting the walls to a neutral color. They may also tell you your house won’t sell unless you fix the leaky faucet and secure that loose board on your deck. When you’re dealing with an all-cash investor, these relatively minor updates aren’t as big of a deal.
Cash buyers are often planning to update the property anyway, so they’re not as sentimental about making sure the wall color is to their liking as a traditional buyer is. Even big fixes may not be worth the expense; the cash buyer will just factor those costs into their offer.
2. Always Check References for Buyers
There are lots of legitimate cash buyers in Sacramento. Unfortunately, there are also people who promise the moon but actually don’t have experience buying new properties. Before you agree to sell your home to an all-cash buyer, ask for a few references. Ask about how long the transaction took, if the seller got a fair price, and if they would work with the buyer again.
3. Forget About Contingencies
Contingencies are those hidden back doors that allow buyers and sellers to back out. They’re often the reason as escrow falls out. For instance, the buyer might make an offer that is contingent on them selling their current home; if they don’t get any offers on their existing property, they’ll pull their offer on your home. With all-cash offers, contingencies are not typically included. You receive an offer, agree to it, and straight forward contracts are signed. This streamlines the process, but also means you should be sure you’re ready to sell before you sign anything with a cash buyer.
4. Have a New Home in Mind
Cash sales move swiftly. If you’re falling behind on mortgage payments or you’re sick of dealing with a rental property, that’s great news! But you probably want to have an idea of where you’ll move when you call an investor to get a bid. That being said, you may be able to work something out with your buyer to stay for a few months and pay rent if you need to.
5. Watch Out for Scams
Finally, there are some scams in the world of all-cash offers. Before you sell your house for cash in Sacramento, be aware of red flags. Companies that want you to pay an expensive application fee or other upfront costs or a buyer who won’t explain their offer to you may not be on the up and up. Remember, investors are not licensed in the same way real estate agents are — so you should look out for yourself and have an attorney review your contract if possible.
Are you ready to sell your house for cash in Sacramento? Give California Family Homebuyers a call! We have experience helping families in all sorts of situations sell their house, fast, and for a fair price!
You can contact us online or call us at 916-496-3737.