The Simple Way to Sell Your Home. Get Your Cash Offer in Just 7 Minutes. No Obligation, Call Now 702-602-8774

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. 

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.
Ricki Irwin
Ricki Irwin
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!!
Dennis Ripley
Dennis Ripley
03:55 14 Feb 19
Very professional and very knowledgeable from start to finish. They went above and beyond to help me find what I was looking for. I would definitely recommend them.
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 Raynoha
Cody Raynoha
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!
Alan Giblin
Alan Giblin
23:01 07 Feb 19
I was shocked when I heard that We Buy Any Vegas House could sell my house so fast without any fees or charges at all. Thanks again guys!
Crosbey Proffitt
Crosbey Proffitt
22:48 07 Feb 19
I started off using a realtor thinking that I would be able to sell my home fast, but that wasn’t the case. I ended up reaching out to different companies and I ended up finding We Buy Any Vegas House. They were on it the second I reached out to them and were able to sell my home fast!
Investors
Investors
18:59 07 Feb 19
I have been in Real Estate for many years, it’s so refreshing to meet such professional, kind people to work with. We Buy Any Vegas House has great employees who are responsive and get things done quick. You can tell they have a true passion for what they do. If you are looking to work with a great team and you want to sell your house quick, I highly recommend this group!
Scott Henry
Scott Henry
18:53 07 Feb 19
We Buy Any Vegas House truly is one of the most reliable companies I have worked with. You can really tell that Casey and Ryan really care about what they do and really want to make you feel comfortable in the process. Thank you for all your guys help!
Ashlyn Mazur
Ashlyn Mazur
21:26 02 Nov 18
Most professional real estate company I've ever worked with! Would for sure recommend them!
Ashley Thompson
Ashley Thompson
18:59 02 Nov 18
I called 3 different companies and Casey was the most responsive. His offer was higher than the other ones as well. I really liked that they were a local company and everyone who helped me in the process was great to work with!
Katrine Baker
Katrine Baker
18:39 02 Nov 18
My mom and I had to move out of our house pretty quickly due to her martial differences. They were honest and extremely professional during the process and we are forever grateful to have worked with such a great company! Highly recommend!
Gregory Mitchell
Gregory Mitchell
00:26 01 Nov 18
Unfortunately, I never thought I would see myself having to get rid of my home, especially in a fast time frame. However, life happens, and I needed to sell my home quickly due to a death in the family. I reached out to 4 companies in Las Vegas, and We Buy Any Vegas House not only was the most efficient, but the friendliest, most reasonable, and compassionate. The other 3 companies did not even compare. Casey and Ryan have gone above and beyond to make sure that this worked for me. They truly care about you, which means a lot especially during a tough time. They put in the effort to care about the client first, as well as my family during this tough time. I am so grateful to have found them, and to top it off, they bought my house and put cash in my pocket in 7 days. Would recommend to all! Use this company, you can't go wrong! Thanks to Casey, Ryan and John!
Samantha Bonneville
Samantha Bonneville
00:23 01 Nov 18
We buy any houses is one of the most honest companies I have worked with. They are always upfront with issues of the houses, honest with fees And closings. We have not had a bad experience after 10+ Transactions
Alyssa Trent
Alyssa Trent
23:08 31 Oct 18
I worked with them to help my Mom sell her house and they were so amazing!! They explained to us exactly how everything worked step by step. I called them on a Monday and they got us cash by Thursday. Casey is such a genuine person.
Robert Johnson
Robert Johnson
22:10 31 Oct 18
After a tenant trashed my rental property, I was faced with the decision of remodeling or selling the property in its current state. I called Casey and he walked me through the entire process, start to finish. After factoring in the amount of time and money the remodel would take, it was clear that selling to them was the best decision for me. Within a week of my first contact with Casey and his team, we closed on the property and I had cash in hand. I'll definitely be reaching out to them in the future. THANKS!!!
Corey Trent
Corey Trent
02:33 31 Oct 18
I reached out to Casey and Ryan when I needed to sell my house. They were very professional and helped me through this tough time. They were able to buy my house and close fast. What a great team they are! I would recommend them to anyone. Thanks again!
John Washington
John Washington
02:24 31 Oct 18
As a very skeptical person I always believe that my best interest is not priority when dealing with people that want my business. I cannot name the countless times that I have been burned. After looking to sell my house for a cash offer, I was called by a lot of investors, most of which had very little customer service. Several didn't return call when they said they would and then when they finally called me back, they got anger when I decided not to use their Services. From day one Ryan not only treated me like is #1 customer but also treated my whole family like long time friends. I most also state that his offer wasn't even the highest. I took the lower off with him due to the fact that he help with crucial tax situations that I needed taken care before receiving them money so it wouldn't bit me in the butt later. He answered every call before and after the process was completed. 99% of others wouldn't have even answered a text once they got the money. Could I have made a couple of thousand dollars more with someone else? Sure, but the peace of mind in knowing that it was done the right way by someone who actually was professional and care was more than worth it. Ryan has made a customer and friend for life.
Green Girl
Green Girl
00:00 31 Oct 18
I was in a really tough spot because my Husband was in the Hospital and had passed away. I was completely unready for this and had discovered that there would be considerable expenses!  I had received several letters from companies interested in the property on an "as is" basis.  Most had never got back to me after I called them or were too low of offers.  I put an inquiry in their website and was immediately contacted by the Owner who was able to come the very next day!  The entire process was easy and professional.  Thank you We Buy Any Vegas House!
Mike
Mike
23:37 30 Oct 18
Casey and Ryan were so helpful! I was was a week from being Foreclosed and they were able to get me cash in my account in 5 days! And even let me rent back until I was able to find a new home!
Karl Workman
Karl Workman
21:03 30 Oct 18
This company was not only the most professional real estate company i've dealt with, but they're the most reliable and respond quicker than most companies i've ever dealt with. They were fast, professional, and knowledgable in all aspects of our deal. Would and plan to recommend them to all of my friends and family! 10/10.
Next Reviews