What is a Cash Offer on a House?

Cash offers presents a straightforward and efficient way to sell your home fast.  It is exactly what it sounds like: a home buyer makes an offer to purchase a home entirely with cash – no additional financing needed. Here are some key considerations to keep in mind when exploring cash offers for your home:

• Financing Simplified:  There is no mortgage loan or lender involved in the process. This eliminates the complexities tied to financing and appraisal contingencies that are often part of financed offers.
• Proof of Funds:  The buyer provides proof of funds, usually in the form of a bank statement, showing they have the cash available to pay the purchase price in full.
• Secure Transaction:  The buyer either pays the full purchase price in cash at closing, or provides certified funds ahead of closing. The title company or a real estate attorney will verify the funds’ authenticity.
• Swift Closure:  One of the most attractive aspects of cash offers is the speed with which they can close.  Cash offers can speed up the closing timeline since there is no waiting for financing approvals. In most cases, the seller gets to pick the closing and move out date.  
• Increased Certainty:  Cash offers are often favorable to home sellers because they’re faster and provide more certainty without third party financing. However, it’s essential to be aware that the final sale price may sometimes be lower compared to offers involving financing.

Why Are Cash Offers Better for a Seller?

The top reasons to sell your house for cash include:

• Speed. Selling for cash can be much faster than listing a home traditionally, since there’s no financing contingency. This allows for a quicker close.  Sometimes as fast as a few days or weeks.
• Simplicity and Convenience. There’s less paperwork, less contingencies, and fewer hoops to jump through without lenders or mortgages involved. The transaction is more straightforward overall. 
• Certainty. With a cash offer, the buyer already has the money so there is less risk of the deal falling through or being dependent on the buyer being able to secure financing.
• Flexibility. Sellers have more control over the timeline and can close whenever they want without waiting for buyer financing. Cash buyers tend to be more flexible on closing dates and other terms of the sale. 
• Privacy. A cash sale allows the seller to avoid a public listing and be more discreet about the sale, if they desire. It also eliminates showing your house to potential buyers every time another real estate agents’ clients want to see it.
• Save money. Cash sales allow you to save money on closing costs, since home sellers pay the bulk of those costs. Negotiating is also easier without mortgage fees and financing costs for the buyer to consider.
• Avoid repairs. Cash buyers may be willing to purchase the home as-is, allowing sellers to avoid making repairs and improvements to get the home ready for listing. This saves time and money.

Call Dan Schueller To Get Multiple No-Obligation Cash Offers On Your House!

If you want to sell your house for cash in Great Lakes Area of Minnesota, Dan Schueller and Your Home Sold Guaranteed Realty Exclusive can help. Your Home Sold Realty Exclusive has the resources and network to obtain and compare the best cash offers for your house. In many cases, the seller can pick the closing, move out date or even lease the house back from the buyer. Call or text 218-656-6469 today to get the best cash offer and sell your house fast for cash!

With nearly 35 years of ral estate experience, our real estate team has helped hundreds of our clients sell fast and for top dollar.

Our track record speaks for itself. On average, we sell homes faster and for 104% more money compared to other realtors in the area.

We’re able to do this because of our extensive database of over 17,000 pre-qualified home buyers, including cash home buyers. With this database, we can match you up with an interested cash buyer almost instantly.

On top of our network and industry connections, we also offer several seller guarantees to protect your interest, like our Guaranteed Sale Program and Guaranteed Cash Offer Program.