We all want to see our homes sell fast, there is no doubt about that. Did you know there’s more than one reason why you may forgo the traditional sale to sell your home fast for cash, though?
Why Sell Your Home Fast?
There are many reasons why you may want to sell your home fast that don’t fall into the typical mold — no one wants to pay holding fees or continue to live in a home they want to move out of, after all. Beyond that, there can be a few more reasons that you may not have thought of.
Additionally, if you’re trying to sell your home by listing it, then you may run into some unforeseen problems that could cost you a pretty penny if you don’t handle them. That’s where selling your home fast for cash comes into play. So, let’s jump into it.
Declining Neighborhood or Economy
Sadly, some neighborhoods and areas can begin to steeply lose their value overtime. This can be caused by many things, such as:
Major building developments nearby (noise pollution and light pollution)
Crime
Decline in the physical quality of the houses in the area
Supply and demand — more houses than people
Economic crisis
For example, the global housing crisis in 2008 massively impacted the value of homes and made it nearly impossible to sell your property on the traditional market. It was so much more than that, though. The 2008 Great Recession affected people all over the world, from unemployment, foreclosure, and reduced services offered by the government to assist them.
Obviously that example is extreme. We don’t expect another housing crash like the Great Recession to happen. If you do predict that your home value is going to drop, however, you may want to consider selling it fast for cash while the market value is still higher. You’ll get a fair offer and you won’t have to worry about the value decreasing while you wait for it to be sold.
Avoid Costly Repairs and Fees
Most families want something that is move-in ready and will pay the premium price for it. However, to get to that premium price, you’ll need to put in a lot of time and money to repair and update the home. Even after that, the potential buyers may not be satisfied and will ask for you to change certain things before you move!
Some repairs could be simple, like re-mounting a door or painting a room, while others can cost you thousands. A severely neglected roof could cost $10,000 or more to replace. Some interior renovations, such as kitchen remodels can cost even more! HomeAdvisor puts the average kitchen remodel price in the $13,365 to $37,800 range, depending on what you need to do to it!
Think about little costs that add up too, like replacing windows. One window may only cost about $400, but replacing all of them adds up quickly!
If your home falls under any of these, then you may want to sell it fast for cash. You’ll likely get a better offer from companies like us than any prospective buyer.
Failed Inspection
If you’re selling your home through a real estate agent, chances are that prospective buyers are going to want a home inspection before they buy. If your house fails, then it’s on you to bring it up to code before it’s sold.
Homes fail inspections for a many number of reasons, including:
Roofs need replacing
Drainage issues
Faulty foundations
Plumbing problems
Pest infestations
Hidden mold
Failing HVAC systems
Structural damage
Poorly maintained
This loops back into the “Costly Repairs” section we discussed earlier. Everything on this list will likely cost you over $1,000 to fix and properly clean or install. If you don’t want to deal with that, you can sell your home fast for cash. Some companies don’t want to deal with a home that failed inspection, but we’re not like some companies.
At Property Spot, a BC company, we’ll buy your home no matter the condition. We mean it too — we’ll give you a cash offer in 24-hours after learning more about your home, no matter the results of an inspection. We don’t ask for repairs either — what we see is what we’re happy to get! Give us a call today at 480-485-3675 or visit us online to learn more.