Sell a House for Cash FAST in the Hudson Valley
Are you a home seller in the Hudson Valley thinking about a selling your home for cash? If you’re in a stressful situation, dealing with tax liens, pre-foreclosure, or foreclosure, you might be asking yourself how you can get out of your house quickly without financial ruin. Did you inherit a home and want to sell it for cash fast?
Find Your Homes Value Here: https://carlinfelder.exprealty.com/seller/valuation/
While a cash offer might seem like a good option for some, it often isn’t the best solution for most people needing to sell their homes quickly. I want to share some insights about cash offers to help you decide if it’s the right choice for you.
I’m Carlin Felder with the Hudson Upstate Team at eXp Realty. I’m a real estate agent working with buyers and sellers across the Hudson Valley to help them make the best decisions for their homes. Today, I want to educate you a bit about how investors, flippers, and cash offers work.
Pros and Cons of a Cash Offer for a House in New York
Why accept a cash offer? If you’re in a stressed situation and need to sell your house fast, a cash offer can close faster than a traditional sale. A normal transaction, from listing to closing, usually takes about 60 to 90 days. In contrast, a cash offer can close more quickly if everyone is on board and you have good attorneys and a title company working with you. However, while cash offers might offer convenience, they also come with some drawbacks.
The benefits of a cash offer include quick closing times and fewer contingencies. Cash buyers often pay for the house as-is, sometimes without an inspection, reducing the time and hassle involved. There is also more certainty that your house will close since the buyer doesn’t rely on mortgage pre-approval or fluctuating interest rates.
However, the cons of a cash offer for your home include the likelihood of negotiating a lower sale price.
The #1 GOAL for investors is to buy homes at a significant discount to ensure a profitable return on their investment. If you want top dollar for your home, accepting a cash offer without listing your house on the market is not be the best choice.
Listing your home on the MLS where it feeds out to Zillow and Realtor dot com increases visibility and competition, leading to higher offers when your home is priced right.
What is the ARV or After Repair Value of a Home?
House flippers and investors use something called the After Repair Value (ARV) to determine how much they should pay for a property. They apply the 70% rule, which calculates the maximum price they should pay based on the ARV minus repair costs. This often results in offers significantly below market value.
$300K or $160K for Your Home?
For example, if a house could sell for $300,000 after repairs, and the estimated repair costs are $50,000, the investor would aim to buy it for $160,000. If you listed your home for $250,000, you might receive offers closer to market value, especially from buyers looking to invest time and effort into the property.
A house flipper or investor will also need to factor in their capital gains taxes and any interest they may have to pay if they are buying with a loan. Their goal is to get a home for the lowest price possible. A cash offer from an investor will be lower than if you put your home on the market and it received multiple offers from the usual home buying population.
Should You Sell Your Home in the Hudson Valley for Cash?
In summary, the best solution depends on your needs. If you need the most money, listing your home on the market is generally better. If you need a quick sale and are willing to accept a lower price, a cash offer might work for you.
As a real estate agent in Beacon, New York, I work with investors, house flippers, sellers and home buyers. I can connect you with the right person, whether it’s a home buyer or a house flipper.
I have a team of house flippers, an appraiser, buyer agents, and listing agents. If you need help putting your house on the market and getting the most money for your property, give me a call. I’d be happy to help you find the best solution for your situation.
Thank you, and have a great day!
https://thehudsonupstateteam.com
