If you are looking to sell your home quickly for cash, you can sell to a home buying company such as a We Buy Houses firm or an iBuyer. You will usually receive an offer within 24 hours, and you can close in less than two weeks (in most cases) – but there is a catch.
These companies don’t give the highest prices for houses. iBuyers like Offerpad and Opendoor have reasonable prices for their offers (sometimes 1%-2% lower than what you could get on the open market) but they’re only available in a few large cities. We Buy Houses companies always have low prices for their offers (as low as 50% of what the house could be sold for).
Comparing Two Options
When you compare the two options, selling on the open market usually only takes a few weeks and you could make more money in the end even if you have to pay a realtor’s commission.
you’re in a hurry to sell, or you’re selling an as-is home. There are two main reasons you should prioritize a cash offer when selling your home: if you need to sell quickly, or if your home is in poor condition.
You’re trying to sell a property that is in poor condition and would not be eligible for traditional financing. You need to sell this property within two weeks.
Why you need to compare your options
Although you may need to sell quickly for cash, it is worth taking the time to evaluate your options. Making a choice too quickly could mean leaving a lot of money behind.
You may be set on selling for cash, but unless you’re selling a property that is in poor condition and won’t qualify for traditional financing, it makes sense to consider every offer – whether it’s in cash or not.