Buy My House for Cash in California: The Pros and Cons of Fast Cash Offers
Picking up and moving isn’t always easy, even when staying put has simply gotten harder. Whether you’re behind on your house payment or you serve in the military, selling a home comes with a lot of stress—and, often, a lot of questions. When you also have to move quickly (or hope you can so that you can put your old life behind you), frustrations can build and wall off your ability to make sound decisions. You’ve heard that selling your house for cash can speed things up, even simplify the process of selling your home. But you’re cautious because there are often drawbacks along with the benefits to every problem’s solution. So, despite your current sense of urgency, you don’t want to jump to conclusions.
Not to worry. Questions such as, “Who will buy my house for cash in California?” and “Can I even get a fair cash offer on my home?” are easily answered—and we’ll do that here. To start, let’s first take a quick look at whether seeking fast cash offers is what you really want to do.
What are the Pros and Cons of Selling for Cash?
Just as you suspected, there are pros and cons to selling a home for cash. Knowing what those are is the first step towards deciding if you want to get cash for your real estate property, whether it’s been your home for two years or twenty. Here are the advantages:
Cash sales are usually fast sales.
When you need to sell your house fast, cash sales are ideal. Most all-cash buyers are real estate investors who don’t rely on lenders to provide them with loans. That means they have more say over when they can close. Provided they are pros who’ve been buying houses for years, they’ll be able to offer a price immediately, too, without even seeing the house.
Cash sales are typically as-is sales.
If you can’t—or don’t want to—renovate, clean, or stage the house, selling for cash will make it easier to sell as-is. Many all-cash buyers will even take a house with foundation damage caused by an earthquake or a home full of furniture left behind by old tenants. Without having to worry about creating a move-in ready house, the time and money you save can go towards moving into a new one.
Cash sales are often stress-free sales.
Fast, as-is cash sales can reduce a lot of your stress—especially since all you may have to do is pack a few bags. Some of the more reputable buyers will even help with your moving costs and take responsibility for other fees that you’d otherwise have to pay. Since the average cost of selling a home in California can reach tens of thousands of dollars, every little bit counts. But home-buying specialists, in particular, work hard to reduce your stress all around.
The disadvantages of selling your home for cash are real, however, and should be considered carefully. For example:
Cash offers reflect a discounted price.
Cash offers for a home reflect a discounted price, which can come as a shock if you’re not expecting it. But the discount usually accounts for all the repairs that need to be made in addition to other costs, such as title fees and taxes that the buyer has agreed to absorb. Keep in mind that you’ll be saving money, too, by selling your house without a REALTOR®—which, in the state of California, costs sellers about 6% in commission.
Your buyer should provide a document, called a house sale net sheet, that breaks down these numbers so that you can fully understand the reasons for their offer—and whether or not it makes sense to take it. If your home is in great shape and it’s possible you’ll get full retail price, it might be better to put it on the market than to go with an all-cash buyer.
Cash offers may be from unreliable, inexperienced, or fraudulent buyers.
Unfortunately, not everyone who says they can purchase your house for cash has the funds or the know-how to back it up. Some have no intention of closing at a fair price at all, which is something that has given all real estate investors a bad name. So, do your due diligence by asking that proof of funds accompany your offers, and perform a little research on the experience and reputation of your buyer.
Cash offers may require that you move faster than you’re able to.
It’s rarely a bad thing when a cash buyer can close quickly. If things move too fast, however, it can be stressful. Some buyers need to get you out of the house right away so they can perform the rehab and sell for a profit in short order. A reliable, experienced, and legitimate cash buyer should offer to close in seven days or less. They should also be able to adjust the timeline if a one-week close is simply moving too fast. After all, a fast cash offer should benefit you, too.
It’s possible to mitigate the risks that come with selling your house for cash. When you’ve found an all-cash buyer who is honest, the pros almost always outweigh the cons. That brings us to your next question: “Who should buy my California house for cash?” The answer: the California buyer who will pay a fair price.
Who Should Buy My House for Cash in California?
California-based Sell Your House Direct is a reputable home-buying specialist with almost 20 years of real estate investing experience. Veteran-owned and operated with a focus on family, SYHD understands first hand the need to make moving easy—even, and perhaps especially, when it also has to happen fast. To make your experience as stress-free as possible, SYHD can close the deal when it works best for you. They can not only take your home as-is but also help with the move. In fact, all you really have to do is point to what you want and let SYHD handle the rest. And, to boost your confidence that you’re getting a fair price, they’ll set you up with a net sheet that explains all of the numbers and that outlines your options.
So, put the question, “Who will buy my California house for cash?” as well as your old life behind you. SYHD can help you move forward without all the stress. You might even enjoy it.