What It Means To Sell Your House For Cash

Quick: What comes to mind when you think about selling your house for cash?
    • Winning the lottery?
    • Finding a twenty-dollar bill in the sofa?
    • Dollar bills zipping around like Roadrunner in the Looney Toons?
How about a suitcase full of bills?

Funny Story About A Fast Cash Offer

One of my students told me once about a visit to a home seller who was interested in a fast cash sale. As they got to talking, she (the seller) told him (the student) that her family had inherited a home near Austin after a great-aunt had passed away some years back. She had been out there a few times when she was younger and loved the home and the area.  However, it required quite a bit of work to get up to sellable standards and she had neither the time, money, or desire to invest in that house.  Anyways, they went thru the presentation and the seller was happy to sell in as-is condition for cash.  When we showed up at the Title Office, the investor was carrying their laptop in a computer satchel.  The seller inquired if the cash for her house was in the satchel.  Everyone in the office chuckled as we’d assumed she was kidding. She wasn’t kidding. The seller thought that a cash sale meant that she would receive a bag of cash in exchange for the title to her house! What fast cash really means is that a homeowner doesn’t have to get a mortgage to sell their home. They get money upfront instead of using a loan to buy a new home.

The Benefits Of Selling For Cash Vs. Mortgage

For many homebuyers, a mortgage is the first step to owning the home of their dreams. However, to get the bank to agree to loan on a property, the property must be in ‘sellable’ condition.  This is because the bank will use the property as collateral should the buyer default on his or her mortgage and they want to make sure the collateral is at top market value. Unfortunately, as in the story above, not all homes are ready to sell without having to make significant repairs.  Not all sellers have the finances or skill set to rehab a home to get it to maximum after repair value for a traditional sale. The good news is that you can sell your home to a buyer who doesn’t need a bank loan to buy.  These buyers are investors who are looking for houses that need repair because that is the problem they specialize in solving. When you sell your house fast for cash, you will:
    • Sell quickly, in as little as seven days
    • Sell as-is, so you don’t have to make repairs
    • Avoid buyer back-out
    • Skip the appraisals and the inspections
    • Pay minimal closing costs and no Realtor commissions

When You Want To Sell Your House For Cash 

There are a couple of scenarios where you would want to sell your house for cash:
    • Facing foreclosure but are looking for alternatives
    • Inherited an ugly house you don’t want
    • Old house in need of repairs
However, there are still home sellers in Texas who want to sell their house thru unconventional methods but don’t need a cash sale.

When You Need To Sell Your House Fast

I’ve participated in several transactions where the homeowner couldn’t afford to sell their house thru traditional methods.  It could happen for several reasons:
    • Moving/relocating for work and don’t want to wait months for house to sell
    • House needs minimal repair but homeowner can’t afford to make repairs
    • Divorce and want to sell the house fast so they can move on
    • Retiring and want to sell but on deferred payments for cash flow purposes
    • House has little or no equity and seller can’t afford to come out of pocket to pay commissions and closing costs
In these situations, we can still buy your house fast, as-is, and without the seller having to come out of pocket for anything.  While it won’t be a cash sale, it will still be a non-traditional sale that doesn’t involve the banks!

What Is The Process Of Selling A House For Cash?

Are you ready to sell your home for fast cash? Here is what you can expect when you contact us.
    1. Phone call. I will call you to talk about your home and your needs.
    2. Face to face consultation. During or after our call we will schedule a time for us to meet in-person, and to do a walk-through of your home. We will talk about your home in more detail, what options we have for you, and answer any questions you might have.
    3. No-obligation offer. In less than 24 hours after our meeting, you’ll receive a fair cash offer on your home, which you can accept or decline.
    4. Accept the offer. After you accept the offer, we will meet again to go over the details once more. We will talk about the next steps and how to prepare your house to sell. We will also discuss the closing schedule and any additional needs or expectations you may have.
    5. Close on your schedule. The final part. We will close on the schedule that you chose. We can close in as little as seven days, which is important if you are facing a foreclosure or need to sell the home very fast.
As always, please contact us if you have any questions or would like to sell your house fast. Here at Ray Owens Group Realty, you are more than just a sale. Our promise is that you and your family will be taken care of.
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