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Choosing to sell your home, for any reason, is a big deal. Whether you’re facing financial difficulties, working through an inheritance, or trying to move because of a new job, you’ll want to educate yourself about the different ways to sell your home in Durham.
Preconceived notions about the real estate market, including the sale timeline and the potential price, can hold homeowners back. It’s natural to just want to get on with all of it and trust the traditional ways of selling a home. However, there might be a better way for you to sell your home in North Carolina.
Home selling options in North Carolina
Most people who choose to sell their home go into the process thinking that there are only two options if they want to sell their home: FSBO or listing with a real estate agent. Actually, there’s a third option, and that’s selling to a cash buyer.
With a for sale by owner transaction, you’re doing all of it on your own. You have to find potential buyers, prepare your home in the best possible way, and determine what the market rate is for your house. There are tons of resources online to teach you about all of these things, but it’s on you to figure it all out. That takes time and mental energy. For all of that, you’ll keep every penny that you make off of the sale of your North Carolina home.
Listing with a real estate agent is a turn-key option. The real estate agent will do all of the legwork that you need them to. They’ll set up open houses, find out what the going rate is, and negotiate with buyers. They’ll be able to tell you everything you need to know. In exchange, they’ll take a hefty commission.
A cash buyer or a We Buy Houses company in the Triangle will offer you a lower price, but they’ll take your home as is. This process is turnkey in the same way that a real estate agent’s services are turkey. A cash buyer will do all of the legwork and present you with the options available. All you have to do is decide what you want to do and go with it. After going through all of the property information, you’ll get a fair offer for your home in Chapel Hill, Holly Springs, or anywhere in Wake County.
Pros and cons of a cash home sale
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Working with a cash buyer means that you’ll be able to sell your house faster and with fewer strings attached. You’ll be able to sell your house as is, without having to make repairs or do any home staging. With the cash buyer option, many of the particular processes associated with selling a home are out the window.
For example, you likely won’t have to get a home appraisal if you’re selling to a We Buy Houses company. There’s even the possibility that you’ll be able to sell your home without an inspection. That’s especially likely in the current seller’s market. There’s no waiting around for a bank loan approval from the seller with a cash buy. All of this speeds up the process.
Buy houses companies work with local homeowners who need to sell their house fast in Durham, and the houses can be left unchanged in many circumstances. Though there might be a required walk through for validation purposes, for the most part a house can be sold for an all cash offer in short order.
On the other hand, you might want to slow down the process. If you’re waiting to close on another home or if you have life circumstances that call for a different timeline, a cash buyer might not be for you. You’ll also likely get a lower price with a cash buyer than with the traditional real estate process. That difference can be eaten up in commissions and repairs, so do be careful when you consider what an honest price is for your home in Durham.
Who pays cash for houses?
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There are two kinds of cash homebuyers:
– One-off / first time cash home buyers
– Experienced cash buyers
In today’s real estate market, it’s increasingly common for individual home buyers to be ready to pay cash for homes. The average home buyer is different today than it was a decade ago. Note that first time cash buyers are going to give you a bumpier road than experienced cash buyers. They know just as much about the process as you do if it’s the first rodeo for both of you.
Working with a We Buy Houses company streamlines the process. These are experts in cash home sales because they’ve done it many times before. For North Carolina homeowners, a company that buys homes for cash is the easiest way to go. An investment firm will forego traditional bank financing to buy Durham houses, so you can get rid of your burdensome rental property or your vacant house without having to resort to contacting real estate agents.
People can pay cash for homes for lots of reasons. They might be investors who aren’t planning to live in the home. They could be house flippers who want to turn a profit. Cash buyers could also be individuals who do want to live in the house themselves.
Accepting an all cash home offer
The simple closing process of an all cash home offer is one of the most appealing aspects of this option. If you’re agreeable to the price and the terms offered by a cash buyer, then the whole thing goes fast.
In fact, if you want to sell your house fast, you might be surprised by just how quickly a quick home sale goes. For lots of cash buyer options, the closing date can happen on a hassle free Durham, NC house sale in one to two weeks. That kind of compressed timeline can be dizzying! If you are a property owner and you want to sell your house fast, an all cash offer can get you out from under your house quickly.
The main thing that you’ll want to see is a proof of funds document for validation purposes. A cash buyer will be able to get this from their bank. It shows that they actually do have the money to buy your home in Durham. Without a proof of funds document, you’re not guaranteed that you’ll get to closing and get the cash for your home that you want.
Don’t forget, as a home seller in Durham, NC, you can change your mind all the way up until the final closing date. There are always points where you can turn back. Deciding to sell your Wake County home is a major step, so give yourself the kind of breath and thought that this decision warrants. Though your house can be left unchanged when you sell in Durham, North Carolina, it’s still a lot to move.
Selling a home is personal
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Houses are more than just four walls and a roof. They’re places that families make memories. Kids have their first birthday parties and holiday meals are prepared here. Christmas presents are unwrapped and long summer nights are spent in the backyard. A family deciding to sell their home means that they’re choosing to make memories somewhere else.
Whatever the reason you’re selling your home in Durham, it’s important that you think about all of your options and decide what’s best for you. Your situation could be affected by personal factors like divorce, an inherited home, or a burdensome house that’s holding up a move. Real estate investors are ready to buy houses in Durham and the surrounding areas without hefty closing costs. Real estate solutions for property owners who owe liens or need to sell in as is condition can avoid agent fees as well.
Helping homeowners matters
Durham, North Carolina and the surrounding areas have long been a hot real estate area. The selling process here tends to move fast. If you need to sell burdensome houses because of bad tenants or an unwanted property thanks to a family member who’s left it in a will, home buyers will snap it up for a fast sale.
Every reason that someone could have for selling a home in North Carolina is personal to them. No matter the unique circumstances surrounding an NC home, property simply is a hot commodity. Though profit is certainly part of the equation, many investors also do this as a way of helping homeowners who need to sell their Durham area home. The best cash buyers are doing this work to do some good as well as to make more money.
Don’t ever feel pressured to sell your home or to do something that you’re uncomfortable with. Whether you sell your home to a We Buy Houses company or through the traditional home selling process, think about what’s right for you.
