Selling your house is a complicated task that requires a lot of preparation and planning. There are many things to consider when starting the process, such as repairs, staging, marketing, and showings. One of the most important decisions you’ll make is who you will sell. Today, we’ll go over what you need to know about selling to a cash buyer in Orange County.
What Is A Cash Offer On A House?
A cash offer is an all-cash deal where the buyer pays the full sale price upfront; investors or home flippers will often use this type of offer. The main advantage of selling your house for cash is that it’s a quick and easy sale. If you’re facing a foreclosure or need to move quickly for another reason, selling your house for cash may be the best option.
If you received a cash offer, this text is for you. In this post, we’ll go over what is behind a cash offer and what you should know about selling your house for cash in Orange County.
How Common Are Cash Offers?
If this is the first time you hear about a cash offer, your case is strange. More and more people are open to the idea of accepting cash for their houses. The most common scenarios for cash offers are:
Investors
Orange county is a magnet for investors. With recent years’ real estate market trends, many of them are interested in fixer-uppers, which they will then either rent out or resell at a higher value. Their business model consists of buying low and selling high, so they are always looking for good deals.
For Moving Reasons
One of the reasons to consider a cash offer is that you want to move quickly. Maybe you got a new job in another state, or perhaps you need to move for health reasons. In these cases, time is of the essence, and you don’t want to go through the hassle (and extra cost) of repairs, staging, and showings.
The Property Requires Too Many Repairs
Your backyard is a huge mess, the kitchen needs an update, and the bathroom could use some work. If your house is in dire need of repairs, this will lower its value and make it harder to sell. A cash offer is usually the way to go if you don’t have the time or money to invest in repairs. The buyer will be responsible for all the necessary repairs and renovations.
How Is The Process Of A Cash Offer?
In the case of a cash offer, the process is pretty straightforward, unlike a conventional sale where you have to go through realtors, open houses, and potential buyers who might back out at the last minute. Let’s go over some particularities of a cash offer:
Contingencies
With a cash offer, there are usually no contingencies, meaning the deal will go through as long as both parties agree on the term. That makes it different from a conventional sale, where there are often many contingencies, such as the buyer getting financing or selling their current house.
Appraisal
Since the lender is not involved in a cash offer, there’s no need for an appraisal; this can speed up the process since you won’t have to wait for the appraiser’s report. Sometimes, the buyer will request their appraisal to ensure they are not overpaying, but this is a rare occurrence.
Closing
When you sell your house for cash, you can close the sale much more quickly than in a traditional sale. It happens because there’s no need to wait for the buyer to get financing, which can often take weeks or even months. Sometimes, you can close the sale within a week or two. The paperwork is also much simpler since there’s no loan involved.
Title & Escrow
Although the process is simpler, you will still need to go through title and escrow. The buyer will usually pay for these services, but you could be responsible for half of them in some cases. Be sure to shop around and compare rates to ensure you’re getting the best deal. As with any real estate transaction, it’s important to have everything in writing to avoid any problems down the road.
OC Home Buyers Will Buy Your House As-Is!
If you’re considering selling your house in Orange County, your search is over! We are a team of investors who specialize in buying houses fast, and we can give you a cash offer for your house regardless of its condition. At OC Home Buyers, we pride ourselves on being fair and honest with our sellers, so stop waiting and click below now.