St. Petersburg is a competitive market for selling your house. If you need to sell your house fast, you may have a difficult time finding a buyer. If your house is damaged or outdated, it can sit on the market for several months or years. Do you have that long to move your property? If not, you may want to consider an alternative to a traditional sale.
The fastest way to unload your property is to sell your house as-is for cash. In this type of transaction, you work directly with a buyer. You take the realtor out of the question and do not need to list your house on the market. There are several benefits to selling your house fast in St. Petersburg instead of going the traditional route. Let’s explore this more below.
What is a Cash Sale?
Before we answer that question, let’s review what a traditional sale is. In a traditional sale, you typically go through the following steps:
- Find a realtor or do a For Sale by Owner (FSBO)
- List your house on the market – usually through an MLA site online
- Make repairs or upgrades to your home to make it more sellable
- Schedule open houses or showings to the public
- Negotiate with multiple people until you find a qualified buyer
- Undergo a lengthy closing process
If you need to make repairs or upgrades to the house, this process can take several months. Even after you have spent thousands of dollars on repairs, there is no guarantee that you will find a qualified buyer. Once you find a buyer, it can take another 45 days to close the sale and walk away.
A cash sale looks a lot different than a traditional sale. Selling your house directly to the buyer without listing it on the market often includes the following steps:
- Contact the buyer to schedule a quick walkthrough
- Get a cash offer for your house
- Accept the offer and schedule a closing date
- Close the sale quickly
Notice the difference between a traditional sale and a cash sale? A cash sale involves a direct transaction between you and the buyer. The buyer typically agrees to buy the house as-is, which relieves you from making any repairs or renovations. You don’t have to hire a realtor or list the house on the market. The buyer also typically agrees to pay most or all of the closing costs in a cash sale.
How Does a Cash Sale Work?
A cash sale initially involves three main steps:
Step 1: Schedule a Walkthrough of the Property
You reach out to the buyer to schedule a quick walkthrough of the property. Since the buyer plans to purchase the house as-is, you do not have to make any repairs or preparations. The buyer wants to see the property and decide if they want to move forward with buying it.
Step 2: The Buyer Makes a Cash Offer
If the buyer likes what they see, they will make an offer on the house. Since the buyer is pre-qualified, they can make an offer quickly – usually within 24 to 48 hours. The offer will come in at just under the market value of the home. A reputable buyer will not lowball you.
Step 3: Close the Sale and Get a Cash Payment
If you accept the offer, the final step is to close the sale. Since you are not jumping through the same hoops as a traditional sale, closing is much faster. Buyers usually close within seven to 21 days. They also offer to pay most or all of the closing costs, which save you money.
Will My Current Situation Affect the Sale?
If you were selling your house the traditional way, you might have a situation that affects the sale. These types of challenges usually occur in situations such as probate, foreclosure, divorce, or even a short sale. You may have to solve the situation before you can list your house on the market.
When you sell your house fast for cash, a cash sale will often solve problems that arise in legal matters. A cash sale can also help you settle financial affairs quickly. It can be valuable in situations such as bankruptcy, probate, or foreclosure, where you need to raise money quickly to get out of debt. So, your current situation should not prohibit a cash sale. If anything, a cash sale can help your situation.
Contact J&A Home Buyers to Get Started Selling Your House
If you are looking for a way to sell your house fast or get out from underneath your mortgage, contact J&A Home Buyers. We can buy your house as-is and help you close the sale quickly. Call 727-888-2134 to get a fast cash offer.