The Benefits of Accepting a Cash Offer on Your New York Home

When it comes to selling your home, a cash offer can sound quite tempting. Learn about the benefits of accepting a cash offer on your New York home.

The Benefits of Accepting a Cash Offer on Your New York Home

When it comes to selling your home, a cash offer can sound quite tempting. Cash buyers, such as flippers, may offer substantially lower than market value, but there are still many benefits to accepting a cash offer. You have more control over the entire process, you can decide the closing time, and you don't have to worry about the buyer not being able to close the transaction. Plus, you don't have to make any repairs or pay commissions.

When a cash homebuyer makes an offer, you can decide whether to accept it or not. A reputable cash buyer will make you the best possible offer and show you how they came up with the number. It's important to remember that if you accept a cash offer, it's not necessarily a perfect hit. A cash offer could have contingencies related to inspections and appraisals if required by the buyer.

Don't forget to ask for proof of funds and never accept a personal check from a buyer at closing. Accepting a bank check or a check from the closing lawyer's trust account is a better alternative. And if you accept the offer, you decide the closing time. If you want to sell your house fast, you can do it.

But if you want to wait a couple of months to wait in line with your move or another important date, you can work with your cash buyer to do so. According to a report titled The Outsized Power of Cash Buyers in New York's Housing Market, cash home sales account for 40 percent of all home purchases in New York City. That creates even more competition among homebuyers, raising prices and encouraging non-investors to consider making a cash offer. Cash buyers should take care of securing a title and custody company, and have an experienced buyer's agent (and possibly a real estate attorney) to make sure the paperwork is complete and correct. We'll take care of all the details and the heavy lifting while you leave with cash in your pocket without making any repairs or paying commissions. Whether you end up accepting a cash offer or opting for a funded offer, it makes sense to wait for the right one to arrive. That's because if you sell your home for cash, you have a lot more control over the entire process than if you were selling your home on the housing market. All “cash transactions” are generally quicker and easier, so it pays off to work with an experienced cash buyer like Leave the Key Homebuyers who want to work on your schedule and help you get the best possible outcome.