When you’re selling a house, you want the smoothest possible process. But how often does that happen? With so many steps along the way, something is bound to go wrong.
One common holdup occurs when a potential buyer tries to secure financing. Some buyers severely overestimate their credit worthiness when shopping for a house and can’t get financing at all. Others might not find a loan offer that makes sense for them. What once looked like a promising situation yields nothing and puts you back at the drawing board.
When deals like this fall through it hurts the most. The sale seemed so close. Even though you might have some momentum in the sales process and might find more interested buyers soon, it feels like starting over.
Wouldn’t it be great to just skip the whole financing process altogether?
Many homeowners ask, “Can I sell my house for cash?” We are always there to say yes. You can absolutely sell your house for cash. In fact, there might not be a better time than now.
Cash home buying on the rise
More homeowners are selling their houses in all-cash transactions than ever before. According to the most recent RealtyTrac report, “42.7 percent of all U.S. residential property sales in the first quarter  were all-cash purchases.” That’s an incredible number, but it’s even more incredible when you see where the numbers were just a year ago.
In the first quarter of 2013, all-cash transactions accounted for only 13.1 percent of U.S. residential home purchases. That number rose throughout 2013, to 37.8 percent by the fourth quarter. Clearly, all-cash purchases are on the rise. So if you want to skip one of the most potentially frustrating steps in the typical real estate selling process, you have a great opportunity.
It’s not just us, either
With companies like Houston House Buyers that pay cash for dozens of houses per year, this trend might not seem as surprising. But we’re not the ones spiking this trend. From the same report:
Institutional investors — entities that have purchased at least 10 properties in a calendar year — accounted for 5.6 percent of all U.S. residential sales in the first quarter, down from 6.8 percent in the fourth quarter of 2013 and down from 7.0 percent in the first quarter of 2013 to the lowest level since the first quarter of 2012.
Even when you just count that 42.7 percent of all-cash transactions, institutional investors accounted for just 11 percent. The other 89 percent of all-cash home purchases came from individual investors, or folks who used cash as a negotiating point. Either way, the news is good for homeowners who want to sell. There are plenty of options available.
You can sell your house for cash
It is pretty clear that if you want to avoid the hassle of buyer financing, you can seek out a cash buyer for your home. That might be an individual investor who seeks a second home. An individual investor might also be playing a long-term strategy. If you have an attractive house in a high-end neighborhood, you might find an individual cash buyer who uses the cash as leverage. After all, wouldn’t you take a little less in an all-cash offer if it meant avoiding the hassle of a buyer securing a loan?
Institutional investors are still there to help you out if you want to sell your house for cash. Typically investors like us look for “starter” homes that need a little work. We can make repairs at scale and sell the houses at a more premium price. So if you don’t have an distressed house, you might think you’re out of luck.
Houston House Buyers doesn’t operate like other investors. We see value in all kinds of properties. So if you want to sell your house and get cash, give us a call today. Even if we can’t make you an all-cash offer, know that you might still be able to get one somewhere on the market.