If you want to sell your Las Vegas property, you have two main options: sell your home through a realtor or sell it to a cash buyer. Working with a realtor is the traditional way to sell your property, but more homeowners are realizing the benefits in selling their home for cash. A cash sale can be especially advantageous if you’re a motivated seller or have a fixer upper in Las Vegas.
Selling your home without a realtor is possible, and in fact, may be the best option for your circumstances. Below we’ll cover the basics on this process, the benefits to expect and how it differs from a real estate agent.
What is a Cash Sale?
A cash home sale is when a buyer purchases your home for cash, with no mortgage or financing. Because there is no lender involved, the process moves very quickly. This eliminates the need for inspections, appraisals and bank approvals.
A quick cash sale offers the following benefits:
- No repairs. When you sell your house for cash in Las Vegas, it’s considered an as-is sale. This means that the buyer agrees to purchase your home in its current condition. If you have an ugly, outdated or distressed property, this is a huge plus, as you’re not responsible for making any repairs or updates.
- Quick close. Because cash buyers in Las Vegas have the money upfront to buy your home, they don’t have to rely on traditional bank financing. This eliminates the need for inspections and appraisals. You can close right away, usually within the week.
- No fees. Realtors charge fees for their service, which comes out of your home sale. Typical commission is 6 percent and is split between the agent of the buyer and the agent of the seller. However, only the home seller pays this cost. In a cash sale, there are no fees or commissions.
How is a Cash Sale Different from a Realtor?
Cash buyers are not realtors. They have the capital to purchase homes in all types of conditions and resell or rent them to new owners. Realtors, on the other hand, help you sell your home. They might give you tips on how to sell your Las Vegas property faster, such as by painting the walls a neutral color or improving the landscaping.
Your realtor will also list your home on the MLS and other home sites and show it to prospective buyers. When you receive an offer on the home, they’ll walk you through the closing process. Realtors are important, and in exchange for all of their help, they get a certain percentage of your home sale. Even though realtors will sell most homes, they generally prefer homes in good condition that will sell easily.
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As you can see, it is possible to sell your home without a realtor. In some cases, this is the best option because you can sell your home as-is and walk away with cash in hand. At the same time, there are advantages to hiring a realtor. The best approach is to weigh both options and see what works best for your situation. We Buy Any Vegas House offers free, no obligatory cash offers, so give us a call and tell us about your property.