Cash offers and selling a house as-is are becoming more prevalent in real estate markets across Canada. Homeowners who want to sell their homes quickly can and don’t need to invest much time or effort. 

Selling a home as-is means you don’t need to fix or stage it. A lot of cash buyers are interested more in the lot or the potential of a home in the long term rather than what it is today. 

Here are the benefits of selling homes as-is for cash and why this may be an avenue to take your house sale down.

There Is No Prep Work

The buyer knows upfront that you’re selling your house as-is. There is no prep work you need to do for presentation purposes.

No Showings

No showings means you don’t need to be home to show the home, don’t have to clean up for multiple people, and don’t have to worry about how to plan showings around your job, kids, pets, and special interests.

Motivated Buyer

The buyer is motivated and ready to move forward. The likelihood of a deal falling through is low. When you sell house as-is for cash, it is a safe, trusted way to close a deal, knowing you probably won’t have to restart.

No Spending On Repairs

No need to repair anything. No need to upgrade dated aesthetics. No need to renovate or anything. If expensive repairs or renovations are needed, this is one way to sell your home and avoid spending on them.

Way Less Stress

It’s much less stressful with so much less to do and knowing the selling process will not be drawn out. You can live your life and more or less not have to worry about the what, how, when, or who of this real estate transaction.

ALSO READ  6 Investments to Make Your Home a More Enjoyable Space

Save Yourself Time

Sell a house with as little effort as possible. The time commitment for selling a home as-is for cash is minimal compared to all you must go through for a more traditional real estate sale. Multiple showings. The negotiations on the sales agreement. Delays in waiting if all is approved and accepted for the sale.

Make a Fast Sale

Cash buyers like to move quickly. They’re coming in with cash, too, so there is no real reason to delay an agreement. If you want to offload the property and are worried about how long it may take, sell your home as-is for cash.

No More Paying for the House

While the house is on the market, you still pay its expenses. The faster a sale happens, the faster it’s gone.

You Move On Quickly

If you have a new job in a new city, are going through a divorce, or if there’s been a death in the family necessitating you having to sell this property, selling for cash as-is means that you can move on from it sooner than you would waiting for a traditional sale.

No Inspection

Inspections can be stressful. You never know what an inspection might kick up in the form of damage or required repairs. Skip the inspection altogether by planning for an as-is cash-only sale.

No Appraisal Required

You are not required to get an appraisal done when selling a home for cash, saving you even more time during the closing process. You also don’t need to worry about a low appraisal value coming back, making the mortgage lender want to pull or deny financing on the property.

ALSO READ  How Can You Make Money as a Developer (and How to Fund Property Development Projects)?

Avoid Contingencies

Contingencies take time to fulfill and can sink a deal. They pose a risk to both buyer and seller. When selling a home as-is, you avoid the inclusion of contingencies in the sales agreement. Instead, move ahead with a simple sale.

No Realtor Involved

When you sell for cash, you don’t need to hire a real estate agent or realtor to take away a commission. They’re not needed. All you have to do is find the cash buyers in your local area.

Get Instant Cash

If you’re facing an eviction or bankruptcy or need money quickly, selling a home as-is for cash gets you thousands of dollars fairly quickly. For some people, this can mean all the difference in the world regarding saving their credit.

You Can Still Negotiate

A cash offer isn’t the be-all, end-all. There may be room to negotiate. After all, a cash sale saves money from paying for appraisals, processing, credit checks, and more. 

You’re also providing the buyer with instant equity. The buyer does have the advantage in negotiations. However, if it’s important to you, negotiating is still an action you can pursue.

Reduce Paperwork

There is a lot less time-consuming paperwork involved in a cash sale. Paperwork in a real estate sale can feel overwhelming.