“Cash” Is Not a Magic Word
Maybe.
But “cash” is not a magic word that makes an offer good.
What Cash Can Buy You
Cash can be valuable.
It may eliminate a financing contingency.
It may reduce certain lender-related risks.
It may create flexibility.
A buyer willing to purchase a property in current condition may also save the seller significant time and hassle.
Understand What You're Exchanging
But sellers should understand what they are exchanging for that convenience.
Many direct-buy investors and house flippers intentionally purchase below expected retail resale value because their business model requires room for repairs, holding costs, transaction costs, uncertainty and profit.
There is nothing inherently wrong with that.
The mistake is accepting a discounted offer without knowing what the open market might produce.
Compare Net Proceeds, Not Slogans
Compare NET proceeds.
Not slogans.
Suppose one buyer offers less but requires no repairs, offers a short closing and has limited contingencies.
Another offer is higher but includes concessions, financing, an appraisal contingency and significant repair expectations.
Those offers require analysis.
The Seller Net Calculator turns both into comparable numbers.
The Same Math Applies to Listing
The same applies when comparing an investor offer with listing the property.
Estimate the likely market range.
Selling expenses.
Preparation costs.
Concessions.
Expected timeline.
Risk.
Then compare that with the certainty and convenience of the cash option.
You Can Take the Cash Offer. Just Make It Informed.
Sometimes the cash offer wins.
Sometimes the difference is enormous.
You cannot know which situation you're in until you know what the house may actually be worth.
Before signing a direct cash offer, let Lisa run the property and show you the other side of the equation.
You can still take the cash offer.
Just make it an informed decision.
Start with What Is My Las Vegas Home Really Worth?, and if you have an actual offer in hand, send it through the cash-offer review.
Want to Know What the Records Say About Your Property?
Request a free Property DNA report. Property DNA can include available property, ownership/history, mortgage-related, comparable, neighborhood, school, risk, public-record and other property information depending on available sources.
Current typical turnaround is approximately 40 minutes during normal business hours, and many reports are returned within one hour or the same business day, but turnaround is not guaranteed and can vary.
Property DNA is free through Lisa. Request a free Property DNA report.
Important
Property DNA uses third-party, public-record and other available data believed reliable but not guaranteed. It is provided for informational purposes and is not an appraisal, title search, title commitment, title insurance policy, inspection, survey, legal opinion, tax opinion, environmental report or guarantee of value.
