Certainly selling your home for cash has its attractions: quick sale, cash offer. On the downside, you’ll be making less than if sold on the market. Here are some alternatives for selling your home for cash:
- iBuyer: You sell your home to an iBuyer for cash who then turns around and markets the home at a higher price. You will pay 7-9% commission to the iBuyer but you will bypass the home inspection, waiting for financing etc. Most iBuyers are not buying homes during the current pandemic crisis.
- House Flippers: You are able to sell no matter what shape your home is in; you avoid a real estate commission; you close very quickly and receive cash. However, you will be selling your property for significantly less than what it’s worth.
- Cash Real Estate Investor: Buyers who hold onto the property, often renting it out as the value appreciates over time.