For homeowners in Washington considering selling their homes, the reality of the situation is often a bit more complicated. Selling a home typically involves numerous repairs, renovations, and projects to bring the house into “selling shape.” If you need to sell quickly and/or don’t want to deal with all of these repairs, selling your home “as is” through a cash offer can be a viable option.
Sometimes, the best way to sell your home in bad condition is to simply sell the home “as is.” There are plenty of home buyers (usually companies that buy houses in Washington) that will purchase homes “as is.” All you’ll need to do is reach out, let them know about the house, and then they’ll reach out to you with a cash offer on your house (usually really quickly) within a day or two.
This is usually the best option for homeowners who need to sell fast in Washington because it allows you to sell your home quickly, there will be no need for repairs or renovations, and the sale of the house is going to be (relatively) straightforward.
Understanding Fair Cash Offers
The market value of your home is what fundamentally drives a fair cash offer. This figure will take into account factors such as location, property condition, and general real estate market trends in Washington. Understanding this number can help homeowners level-set on expectations when answering the door to a cash offer. No one wants to undersell their property, after all! Knowledge is power, and this applies to real estate as well.
After the fair cash offer comes to light, expect the process to move at an alarmingly brisk pace—this is one of the primary benefits of selling a home for cash! There are no mortgage companies to deal with, no financing to secure. You can often close on the transaction within the next 7 days. This can be phenomenal for anyone struggling to make ends meet or in difficult financial times.
The reaction you might be having to this process might be, “Yes, there’s a tempo to it. But so what?” Stick around, because the benefits only start with the speed at which the transaction is made. If you’re not ready to read this entire guide, here are our quick tips on why selling a house for cash is so attractive, so convenient, and a go-to option for many homeowners.
If you’re selling your home for cash, then take some type of solace in knowing that you’re in control the whole way through. Not only is the process expedited, but homeowners in Washington like you can also expect the condition of your home to be irrelevant. This can, of course, be a double-edged sword. The result, on one hand, is that the valuation of your home is made on fair market trends and conditions alone. On the other hand, you, the perspective has to be as a seller—get the option to dictate the terms at which your property can depart from you.
Preparing Your Home for a Cash Offer
For many homeowners in Washington, an as-is sale can sound like the ideal scenario, with thoughts of a fast turnaround and no hefty repair bills naturally at the forefront of their minds.
However, it’s also worth remembering that just as an as-is sale saves the homeowner (a.k.a. the seller) from having to make home improvements, the buyer will have to make them instead. The result is that they will undoubtedly take this necessity into account—extensively, in many cases—when working out how much they’d like to pay for your home.
One of the many significant aspects of potential homebuyers viewing your home—particularly cash buyers, who are also far more likely to buy your house as-is—is a visually impressive property. Whether that’s from the viewpoint of how clean your home is (updating a tired-looking property with a fresh coat of paint, for instance), your garden’s design, your bathroom’s hygienic state, and, of course, the sheer amount of space present within your home, your home’s positive look will always help determine a higher sale price.
To establish as much free space in your home as possible, moving out as much of your belongings as you can—freeing up floorspace and also allowing any interested buyers to see as much of your home as possible—essentially gives them more “home” to visualize, generally prompting a better overall viewing and response.
Finding Reliable Cash Home Buyers
Looking into cash home buyers in Washington is important if you are a homeowner wanting to sell your property quickly and easily. Many companies, such as ‘We Buy Houses As Is‘, will be willing to purchase the home as it is right now. This can be quite appealing to those who may not be in a position (e.g., time-wise) to fix it up, but you can’t just sell to any company. To avoid scams and lowball offers (which are everywhere), you must thoroughly research the company— look at their website, read reviews, and ask around for recommendations. It is best to contact several and ask them about:
-The process they go through for purchasing a property (i.e., What do they look at when valuating your home? Do they have any hidden fees that you will have to pay? All this information will make you feel better about the person who is potentially buying your new home. It may also be worth asking around people who have previously sold to them— they are likely in the same situation as you.
It is worth getting more than one cash offer for your home; even if you like the first one or your home has been “on the market” for a long time, get multiple. You will be able to compare both, not just the overall price, but specific areas of the contract— look at exactly what it stipulates and what you will get versus what you want to get out of it, and in some cases, negotiate. Selling to a cash buyer can be a much better experience if you take it a bit more slowly and cautiously— evaluate the offer before actually going for it.
The Process of Receiving a Cash Offer
Generally, the process of getting a cash offer for a house starts with someone — generally a buyer or an investor — making the initial contact. This is very important because it is the launching point for the process. If you’re receptive to this, the person will then begin doing due diligence. This could involve anything from taking your house for a site visit or simply analyzing the home values of comparable properties to build an idea of its price. They’re trying to guess what the home is worth…usually, because this will inform them about what they might be willing to offer, along with giving them an “acceptable” price range in which they can work from at a later time.
- Property Evaluation/ Making a Formal Offer — Here, you can generally expect an actual cash offer. Also included in this will usually be the foundation of an agreement (the “offer” and your acceptance of it). This will be the part that outlines the second half of the process, and it must happen before anything else.
Do not be afraid to read about your offer if contract discussions are started. Do you want to know why?
Following the most recent changes in 2019 that resulted from the 2007 housing collapse, “getting.zip” files is authorized by the SEC.
Who knows if the person you are speaking with is reputable? I’m just looking out. I’ve watched this way too many times.
You should begin to research the local real estate market in the Washington area to understand what a fair cash home offer might look like. What homes in your neighborhood have recently sold? How does your home compare to those in size, condition, and location? How long were the homes on the market before they sold? What are the property values in your area? These are some of the key issues you should seek to answer as you go through Phase 1 and ramp up for a successful home sale.
The second step is to “get your house in order,” so to speak, so that potential home buyers are excited about what you have to offer. This may mean that some home repairs, not having a cluttered home, and having “curb appeal” are all necessary. Nobody wants to go over to a nasty home that is not appealing; we would rather go to someplace nice.
Learning how to fish means that you have to learn how to get connected to reliable home buyers who are likely to close the transaction. The “We Buy Houses As Is” home buyers are reputable for being able to close transactions quickly because they often pay cash. You do not have to worry about whether you will end up on the short end of the stick after going through a lengthy negotiation for your home sale.
People often joke that once you learn how to fish and you start to catch some fish, “the fun part is drawing them in.” Home sellers might not be so sure about this final piece of the puzzle, but it is, nonetheless, the heart of a successful home sale transaction. You must be able to negotiate effectively. If you have a piece of paper in your hand called an “offer”, you must read it. Call: +1 206-291-6117.