Everything You Need to Know About Accepting a Cash Offer on Your Las Vegas Property
Are you considering accepting an all-cash offer on your home in Las Vegas? Some people associate cash offers with scams, and while there are some bad apples out there, many cash offers are legit. The key is to work with a trusted home buying company in Las Vegas – not a fly-by-night investor who seems too good to be true.
But before you can decide if accepting a cash offer is the right move for you, here are some things to know about these types of offers.
Cash sales account for nearly 24% of property sales.
Believe it or not, cash sales are quite common. In the second quarter of 2020, all-cash purchases accounted for 23.4% of single-family home and condo sales. Real estate investors are the main reason why cash sales make sense for many sellers. Investors can afford to offer a fair cash offer and still make a profit when they sell the home.
An all-cash offer means no mortgage.
On average, it takes around two to three months to sell a home. A lot of this time is spent waiting for a mortgage. Even if you found a buyer in the first 24 hours, you could still be looking at another couple of months till moving day! But when you sell your house for cash in Las Vegas, you can close in just one week!
Off-market homes are preferred.
Las Vegas home buyers prefer off-market homes for a reason. When a home is listed with a realtor, the cash buyers have to pay 6% in commission. But if the home isn’t listed, they can skip agent commission and give you a better offer. Plus, the deal is between you and them, which means no home repairs, showings or open houses.
Cash offers are typically lower than other offers.
Because selling your house for fast cash in Las Vegas comes with many conveniences, you’ll have to give up something in return, which is why cash offers tend to be lower than other offers. However, once you run all the numbers, you may find that you’ll end up taking home more money!
Not all cash buyers are the same.
We encourage you to be smart about the investor you choose to work with. Not all cash buyers are the same. Some are experienced and easy to work with, while others act more like a traditional buyer who will expect the same protections like an appraisal or inspection.
We Buy Any Vegas House is a trusted home buying company in Las Vegas. With our experience, we’re able to make fast, all-cash offers and close in just one week! Contact us today to get your free, no obligation cash offer and see how easy selling with us can be!