Deciding to sell a home can pose a significant challenge for homeowners. The dilemma often lies in choosing between traditional methods like listing on the market, considering foreclosure, or opting for a quick sale for cash. Each option comes with its own set of pros and cons, influencing the final decision.
In this article, we will delve into five compelling reasons why selling your house for cash in New York State can be a smart and advantageous choice for those looking to streamline the selling process and secure a quick transaction.
Prices Are Increasing
New York is currently seeing a surge in prices. While some may think that accepting a cash offer means settling for less, property investors in this region are now offering premiums like never before. With prices on the rise, selling your property could bring in more profit than anticipated. Due to the challenges posed by the Covid-19 pandemic, investors are finding it harder to acquire properties, leading homeowners to accept higher cash offers compared to 2018 and 2019.
As-Is
Concerned about your run-down house passing inspections or dealing with contingencies? Opt for selling your New York house “As-is” to bypass the hassle of the traditional buying and selling process. Prospective buyers might hesitate to make an offer if they can’t inspect the property thoroughly to assess its condition.
By selling “as-is,” you can sidestep the worry of uncovering costly hidden damages exceeding $10,000, ensuring a smoother transaction without the need for extensive repairs or negotiations. This approach provides transparency to potential buyers and saves you time and effort in preparing the property for sale.
No Agents
When selling a home, many sellers overlook the 6% fees that buyers and sellers must pay during the transaction process. This fee, which is typically divided equally between the seller’s and buyer’s agents, can often add up to a substantial amount. For instance, in the scenario of a $200,000 sale, the agent fees could potentially total $12,000.
Nevertheless, opting for a cash sale can effectively eliminate these fees, thereby guaranteeing that the amount offered is the exact amount you will receive at the end of the transaction.
Time
When you need to sell your home quickly, maintaining it for potential buyers can be a challenge. However, opting for a cash offer allows you to seal the deal in as little as 10 days, skipping the wait for mortgage approvals, appraisals, inspections, or showings. While these processes typically span over 50 days, choosing a cash offer empowers you to dictate the closing timeline.
No Hidden Fees
Owning a home comes with a wide range of expenses to consider, including utility bills, property taxes, insurance costs, maintenance, repairs, and landscaping. These costs, often known as “Hidden Fees,” can add up over time while owning the property.
Furthermore, the process of closing on a house incurs additional expenses such as appraisal fees, closing fees, and taxes. Opting for a cash offer can simplify this process by encompassing these expenses within the offer itself, eliminating the need for separate payments.If you have any questions or would like more information, feel free to contact us today at 845-367-4898. To dive deeper into our process, visit this link. Explore the details of how we operate and discover how we can assist you in your home ownership journey.
About Greg Helbeck
Greg is passionate about real estate investing in his home state of New York. He is known for his dedication to solving property challenges for homeowners, no matter their situation. Greg successfully juggles his career, family commitments, and his physical fitness. He is also actively engaged in his community and consistently aims to excel in all his endeavors.