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What to Expect When Selling Your Home for Cash

Everyone would love to sell their home for cash, but the reality is, it’s much more difficult than you might expect. Despite the obstacles however, the Economist Outlook blog via the January 2017 REALTORS® Confidence Index Survey Report said that 23 percent of home sales were cash sales in January 2017. They also note that buyers of homes for investment purposes, distressed sales, second homes, and foreign clients are more likely to pay cash than first-time home buyers, who typically opt for a traditional mortgage loan. The majority of people who pay cash for homes are real estate investors, not usually regular day-to-day families looking for their first or second home. However, don’t let these statistics scare you off. The decrease in cash sales is actually a good thing for those looking to sell their home for cash because that cuts down on competition from other sellers and may reap you more benefits as cash buyers become more and more of a rarity. However, this also means it may be more difficult to find a buyer for your house. 

There are also a few things to expect while selling your home for cash, and you have to broaden your understanding and expect to increase your patience in order to accomplish your goals. Here’s what you need to know:

Quick cash comes at the expense of a lower sale price.

If you are looking for a way to sell your house and are looking for cash buyers, be aware that you are making sacrifices for a quick sale and instant cash in your pocket. One of the main reasons that many sellers opt to sell their houses for cash is that it’s easier and faster. This is true especially if the seller has a dilapidated house that they do not want to repair or renovate. The incentive for cash buyers is that the seller will need to offer a much lower price than the home’s true value, so be aware that if you want to compete with other sellers, you’ll need to lower your expectations in this area. But on the plus side, you will save money on renovations and repairs, as cash buyers are usually looking to purchase “as-is”. 

Investment/Equity Purchase Companies will be the most likely buyers.

selling a home for cash

If you’ve ever driven anywhere, you’ve probably seen quite a few of those signs on street corners that shout in big, bold Sharpie: WE BUY HOMES FOR CASH! Call XXX-XXX-XXXX. You may be wondering, is that some kind of scam? After all, a piece of paper or cardboard taped to a light pole and scrawled on with marker isn’t exactly the most professional of advertisements. But interestingly enough, there are actually legit investment and equity purchase (EP) companies out there who will give you cash for your home, taking the pressure off of you and allowing you to make a quick profit. If you decide to go this route, ensure that you do your due diligence by carrying out plenty of research and background checks on anyone whom you are considering selling your house to for cash. Among the legitimate businesses, there are some individuals and even companies out there who are unfortunately looking to scam you. You should be able to easily find a website and legitimate reviews for these individuals or companies, and if you can’t, then do NOT sell to them! Be smart!

Many of these direct buyers will buy your home “as-is”.

An “as-is” home is a home that has been put on the market in the condition it was in prior to the seller deciding to sell. This means you won’t have to really do any renovations, repairs, or updates to prepare the house for success on the market, because you’re not really playing the market’s game. Because your main clientele will be investors and flippers, you have the benefit of being able to market your house “as-is”. And, of course, you don’t have to worry about the lengthy process of major repairs or renovations! Your home can be in any condition. Even if it’s dreadful and decaying, someone out there is likely to pay cash for it if you offer them a good deal. 

What many people don’t know is that “as-is” is actually a legal term that is used to absolve something of any implied warranty. Basically, what you see is what you get, and the you as the previous owner cannot be held accountable for any flaws in the product after its been sold. The responsibility falls on the buyer in that regard to thoroughly inspect the product or property so that they know of any faults in advance. This is another pretty big plus for you in terms of a cash sale. 

Again, most people who would be interested in an as-is home are those that are looking to flip the house, either for themselves to eventually live in or to sell for a profit. They seek out these low value homes to buy for cash so that they can make the investment for the repairs and renovations themselves. As we’ve learned from the definition above, as-is homes are perfect for those with an eye for design who are handy with carpentry. But if someone is just an average homebuyer looking for a deal, it’s unlikely they’ll find one in an as-is home unless it is a case of an owner death or you needing to sell quickly for reasons other than lack of funds. Because of this, it will be in your best interest to market your home as a true fixer-upper with plenty of potential to tap into this group of flippers.

But… most people won’t be interested. 

One of the biggest downsides of selling your house for cash is the lack of interest from buyers. Not many people can afford to shell out cash for a home. Even if you’re offering far below the home’s true value, the price will likely be something few prospective buyers have on-hand. And even if they do, if they’re not investors or flippers, they will probably see that your home is listed “as-is” or “cash only” and assume that something is majorly wrong with it, even if it isn’t. This is why you should take care to focus your marketing endeavors on advertising to investors and flippers. 

You get a quicker selling process.

Selling your home for cash will expedite the process wildly. Cash only means 1) no waiting on banks and lenders for approval on a loan for your buyer, 2) no appraisal process AKA the two most time-consuming elements of the process. 

Getting approved for a loan is one of the more stressful parts of buying a house, not only for the buyer but for the seller as well, as the financing step of the process is when most home sales fall through (if they do fall through). Fortunately, if your buyer has the cash on-hand, there is no need to twiddle your thumbs while they embark on the lengthy process of visiting a bank to try and get pre-approved, and then play the waiting game on the final approval. 

Also, since you’ll likely be selling your home as-is, you personally won’t be responsible for paying for an appraisal and going through the process. However, be aware that your buyer may hire their own appraiser to ensure that their investment will be worthwhile and that there are no underlying damages that will be costly for them to fix if they do not catch them during the tour with you. 

Watch out for scammers.

Unfortunately, the somewhat lawless world of selling your home for cash will bring out many lawless characters along with it. There will always be shady people trying to make targets out of the desperate. Since many cash sellers are often caught between a rock and a hard place, and thus are extra eager to get their homes sold, they are much more vulnerable to being taken advantage of by scammers. So you see one of those “WE BUY HOMES!” signs on the road, and you’re mulling over whether or not it seems like a good idea to give them a call. The first thing you should do when you see one of these signs is look for the name of a company. If there’s only a phone number scrawled sloppily in marker, it’s probably a sketchy practice. According to Express Home Buyers, “Many of these numbers are actually routed through Google Voice or other services that make them untraceable.”

The good news is, if the company has a name, it should be easy to access their website and customer reviews. The first thing you want to note, is if there’s even anything about them online at all. If the company is fake, you probably won’t be able to dig up any information on them. However, if they do have a website, look through it to make sure everything seems legitimate. But you don’t want to rely solely on the site, even if they post their “customer testimonials”, because they could be cherry picked or even fake. Try to find reviews from customers on unbiased sites like Google Reviews. You should also check in with the Better Business Bureau (BBB). The longer the company has been around, the better. This means that they’ve established a name for themselves and have plenty of satisfied customers to attest to. As long as you stay vigilant and only seek out reputable companies, you shouldn’t have too much to worry about in the way of scams. 

jesse phalin
jesse phalin
01:29 18 May 21
Thank you, Thank you, Thank you! Went above and beyond assisting me through this process. Helped me move my things and even let me leave what I wasn’t taking with me. Thanks for all of the hard work.
Kelly Stewart
Kelly Stewart
21:27 08 May 21
My husband handled the process but felt good dealing with this local company and they did not try to change price after seeing the house. They actually offered higher once they saw our home. Had 5 companies come our to give us bids and they all were bait and switch. They beat everyone’s offers too. We tried to list before and couldn’t sell. I don’t know why anyone would work with head aches of real estate agents and paying commissions, banks, inspectors and the time to close only to walk away with the same money. Thank you Ryan and Jamie.
degan Stewart
degan Stewart
21:23 08 May 21
Thank you guys so much. Jamie is so sweet and on it. Ryan Is one of the most genuine people I’ve met in Vegas. They did what they said they’d do when they said they would and kept us in the loop the whole time
Brian Higgins
Brian Higgins
22:00 04 May 21
Thank you guys so much for everything. Ryan and Jamie Helped me find a place to get out of our old place. It was so nice to have the moving company just handle everything for me.
Sheila Winn
Sheila Winn
19:05 09 Apr 21
I struggled with the idea of selling my house to a "flipper". This company was fair, professional and extremely helpful every step of the way. I never had to wait for a response from Kelly Schnippel when I had a question or concern.I personally would recommend them to anyone looking to get a fair price for their property all the while getting kindness, professionalism and assistance from the buyer.Thank you Kelly Schnippel! I appreciate YOU and your team!Sheila Winn
Valerie Grijalva
Valerie Grijalva
17:30 27 Feb 21
Casey and his team will handle your transaction with the upmost professionalism and class like no other. Their knowledge in real estate will exceed your expectations and you won't be disappointed from beginning to end with their communication and systems to ensure your goals are met. I highly recommend Casey and his team!
Ann Reback
Ann Reback
18:51 25 Feb 21
Thank you for your professional and personal help in this process. You and your team have been so knowledgeable, responsive, courteous and kind...understanding my goals and executing each step in a timely and professional manner! THANK YOU! I will recommend you and your team to friends and others in our community.
Aviv Ben Shimon
Aviv Ben Shimon
16:38 25 Feb 21
Jess Lapensee
Jess Lapensee
16:31 25 Feb 21
From start to finish the selling process was quick and easy!
Eyal Karban
Eyal Karban
16:22 25 Feb 21
The best team in the business!Really helped us to cash out our home, very fast, very professional, great price, thank you!
jevim kale
jevim kale
04:17 27 Jan 21
Best experience with We Buy Any Vegas House. Extremely knowledgeable about home selling process and marketing. Wonderful people to work with. Highly recommend if you are looking to sell your home in Las Vegas NV.
Kate 7Timmons7
Kate 7Timmons7
01:02 26 Nov 20
We were looking to sell our home and called We Buy Any Vegas House so we could get more information. We spoke to Casey Ryan. Ryan was informative, answered our questions, and he went out of his way to give us the best advice on selling our home. Kelly was also helpful and was quick to answer any questions we had.We recommend calling We Buy Any Vegas House to anyone interested in selling their home.
Towik Jes
Towik Jes
05:36 16 Nov 20
I recently helped my parents sell their home due to unforeseen events and We Buy Any Vegas House.com made the process smooth and easy. Their company offered a very reasonable price for my parents home and they closed in 30 days as promised. Look no where else!
Alexa Pughlet
Alexa Pughlet
04:15 17 Sep 20
We Buy Any Vegas House is a very good company to work with, they were very professional and knowledgeable about their business. They made it very easy to work with them. If i ever had to sell my house again I would definitely call them first. Thank you guys for helping me out in my time need.
Pauletta Smith
Pauletta Smith
21:08 02 Sep 20
I contacted them on 8/06/2020 and had my check in my hand on 9/01/2020! They were fast, professional, and gave me a very fair offer for my property. I had to get out of my house pretty quick because of a medical problem and I was able to do most of the paperwork on line. The title company they worked with was great. Very fast and very thorough. No snags. Easy transaction! Signed all the papers and had my money 5 days later. I would recommend them to anybody. Plus...packed and took what I needed and left the rest. No cleaning or trying to find someone to take what I didnt want. Awesome! Thank you.
James Aimery
James Aimery
05:11 08 Aug 20
We Buy Any Vegas House was a great business team. Staff were helpful, friendly and responsive. I was able to sell my house within 2 months in an area where real estate agents are struggling with many properties on the market for much longer periods. I would recommend them to anyone thinking of selling.
Wayne Romerobel
Wayne Romerobel
03:57 30 Jun 20
These guys are the best place to sell your house in Las Vegas. They gave me a fair price and closed quick for maximum convenience. These people are professional, efficient, and extremely friendly.
Lynne M
Lynne M
04:52 24 Jun 20
I have nothing but positive things to say about this company! I needed to sell a house quickly after a death in my family. I spoke with several Cash for Houses Companies in Las Vegas and settled on We Buy Any Vegas House. Everyone was very sensitive about my situation, helpful, answered all my questions and extremely responsive when I called. Ryan and Kelly were awesome!After we settled on a price everything went super smoothly in escrow and again if I had any concerns or questions there was immediate feedback. Also the fact that I was able to do this remotely as I live in California was extremely helpful! I am so grateful for all the help I received during a very challenging time in my life.
Frank Lyod
Frank Lyod
04:21 12 Jun 20
Great team! Glad we chose We Buy Any Vegas House team who understood the market of real estate in our city. They gave us a fair cash offer for our home. We accepted and closed very quickly. We are happy with the outcome and the way we were treated from start to finish.
Sharla Olivaresretento
Sharla Olivaresretento
04:20 28 May 20
Had a really great experience working with We Buy Any Vegas House.com! I really needed to sell my house in Las Vegas and they helped out. Thank you so much!!
Tom Cruz
Tom Cruz
04:11 12 May 20
If/when I do decide to list my home, We Buy Any Vegas House will be the first place I call. They are professional, helpful, and friendly. They provided a lot of helpful information during the course of our business.
Robinson Hunk
Robinson Hunk
04:31 25 Apr 20
We Buy Any Vegas House buyers is a great blessing to my family. Our house was actually sold very fast, in just 7 days processed. Thank you so much!
Florinda Shuff
Florinda Shuff
04:42 08 Apr 20
Las Vegas home buyers has been great to work with. They’re very knowledgeable in real estate and always do what they say. I highly recommend We Buy Any Vegas House.
Florinda Shuff
Florinda Shuff
04:53 21 Jan 20
I got an amazing job offer down in Las Vegas and needed to sell my house fast. First, they explained everything to me and how it all works (selling your house for cash). The process was pretty easy and quick which I appreciated greatly!!
Freddy Aleman
Freddy Aleman
18:47 27 Dec 19
My wife and I recently bought a home from Casey Ryan. The home we purchased is located in Centennial Hills. Gorgeous remodel. Casey and his team did a great job of designing the home. We ran into a couple of issues shortly after moving in. Casey had his people out quickly during Christmas week to make a couple of repairs. He gave my wife and I peace of mind during a chaotic holiday week and for that we will always appreciate him. I would recommend a Casey Ryan home to my friends and relatives.
Angela Rienstra
Angela Rienstra
21:06 26 Dec 19
I needed to sell my house from out of state ASAP. I looked into some other larger name companies and was disappointed with their turn-around time and lack of customer service. I'm so grateful to have found Ryan (and Kelly)! They understood my time crunch and moved heaven and earth to buy my house at a fair price and closed by the promised date. They were with me every step of the way and offered world class service! 100% would recommend to anyone!
Sue Kuckelmann
Sue Kuckelmann
17:02 16 Nov 19
We couldn’t be more pleased with the service provided. From start to finish the team was professional and extremely helpful. All the deadlines were met or exceeded even when I was in Arizona and my husband was in Las Vegas. I would recommend them to anyone who is looking to sell in Las Vegas.
Sam Thompson
Sam Thompson
17:47 25 Oct 19
Great people and very professional. Treated me and my situation fairly and with care.
Mandy Majano
Mandy Majano
01:49 07 Oct 19
They did exactly what they said they would. Great company! Highly suggest!
Anthony Montonini
Anthony Montonini
01:31 07 Oct 19
Thank you guys. We were selling our house to Casey And Ryan and there was some HOA liens that totaled over $40k and they met with the HOA board with me and got them reduced to less than $5k so I walked away with $35k more than I thought I was going to. True professionals!
Nicole Dur
Nicole Dur
01:20 07 Oct 19
My grandma needed help selling after my grandpa passed :( anyways I found them through google and they really treated her like their own family. And let us leave a lot of the stuff she had accumulated over 40 years in the house. Thank you Casey and Ryan!!
pat rolman
pat rolman
01:13 07 Oct 19
These guys have true character. We signed agreement to buy my house then my situation changed and they didn’t force me to move forward. Then 2 months later I needed to sell it and they helped me find a new place any everything. They are really Great people.
That_one_random_ Crafter
That_one_random_ Crafter
00:06 24 May 19
This was so easy Casey was very helpful and kept in contact through the entire process thank you again for everything. Highly recommend this company.
Lela Leedham
Lela Leedham
03:08 22 Feb 19
Great experience working with Casey and Ryan. We would recommend them anytime. They are very knowledgeable and very professional.
Emily Binder
Emily Binder
21:16 18 Feb 19
Jennifer Gibbs
Jennifer Gibbs
19:58 18 Feb 19
A very impressive operation. Very professional and knowledgeable. They follow up when they say they will. Very helpful Team. If you're looking for a fast and fair cash offer on your home, these are the guys to call!
Mario Elizondo
Mario Elizondo
19:58 18 Feb 19
Very professional and a pleasure to work with.
Danny O'Bannon
Danny O'Bannon
19:53 18 Feb 19
I called 5 different companies from google trying to find a company that would pay the most for my rental and their offer was higher than the others. Extremely streamlined process. Easiest transaction I’ve done
Ross Greene
Ross Greene
18:04 17 Feb 19
Ryan & Casey were great to work with! Absolute pro's in the business. I would definitely recommend them. If only I could give them more than 5 stars. Hope to work with them again soon! Thanks guys!
Pam Dickerson
Pam Dickerson
23:53 15 Feb 19
Excellent customer service! Helped us through the entire process. Highly recommend!
steve Balsacker
steve Balsacker
19:35 14 Feb 19
Me and my wife had gone through a divorce and we wanted a quick way to get rid of our property so we could just move on with our lives, Thankfully Ryan came in and helped us out, I didn't have the time to deal with the headache of people coming in and out as well as all the repairs that were needed. He gave me top dollar for my home and I was out in 7 days!
jason almeida
jason almeida
16:52 14 Feb 19
We have seen their signs around town and thought it was a scam, we decided to give them a call and I couldn't have been happier with our experience. They were professional and knowledgable, they paid for all closing costs and even helped with our family move. Great guys and great company! Thanks again!
Peter Floratos
Peter Floratos
04:51 14 Feb 19
This team handles their business right. They are a pleasure to work with.
Tyler Hubbs
Tyler Hubbs
04:38 14 Feb 19
Ryan and Casey treated me with patience and respect during the whole transaction! Very trustworthy and explained each and every question I had!! I would highly recommend We Buy Any Vegas House!!
Avraham Metal
Avraham Metal
01:58 14 Feb 19
As a Real Estate Agent I have sold properties to Casey and his Team. They are men of their word and have never let me down.
Dena Shapiro
Dena Shapiro
01:29 14 Feb 19
What an AWESOME experience!! Casey and Ryan are THE BOMB!! They either answer their phone ALWAYS or respond within minutes. They originally called to see if I wanted to sell but I wasn't interested in selling. However, my neighbor had to sell immediately so I referred them to her, she accepted their offer & they closed escrow within weeks. It would've been A LOT sooner but there were delaying issues on the seller side. Anyways, they got it closed & EVERYONE is happy!! Thank you so much Casey & Ryan :). YOU'RE THE BEST!!!
Ron Lorenzo Woods
Ron Lorenzo Woods
00:51 14 Feb 19
Great team with quick and professional service!
karina giraldo
karina giraldo
00:36 14 Feb 19
Knowledgeable, fair, and professional. I loved working with Casey. I did my research before selecting a company, and I’m so happy I went with them!
Cody R
Cody R
00:27 14 Feb 19
Casey runs a great company that's honest, easy to deal with, and is always fair. I'd absolutely work with him again!
Whitney Carter
Whitney Carter
21:42 08 Feb 19
Grateful to have worked with such a great company! Long story, short they really did help me through a tough time. No need to get into details, but this company really knows what they are doing. Thank you for all of your help with my home. Highly HIGHLY recommend!
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