We frequently get asked about all-cash buying vs. traditional listing. What is all-cash buying? Is it more work than selling a house the regular way? Don’t I need an agent? Keep reading for answers to these questions and more.
What is an all-cash buyer?
An all-cash buyer is a property buyer who has all of the cash required for the purchase up front. This doesn’t mean that we show up with a suitcase full of $100 bills (while that might be cool and straight out of the movies). It does mean that we will wire the money before the closing with no contingencies or extra conditions from a lender.
This is the usual route for selling a house. Usually, traditional selling starts with finding a realtor. After this, you will go through a fairly lengthy process of picture taking, showings, open house events, bidding, waiting for buyers to get approved for a mortgage, and finally getting your money. With this method, while you may or may not have to pay closing costs, the seller is almost always responsible for realtor commissions which is around 6% of the purchase price.
When you sell to us, you don’t need a realtor. We certainly don’t mind if you have one, but we don’t use one on this side. This means that you’ll save at least 3% (the usual commission fee) vs traditional selling. If you don’t have a realtor, this savings doubles to 6%. On a $200k house, that’s an extra $12,000 in your pocket!
We can’t speak for others, but at Cavadian the offer we give you is the money you get. No commissions and no extra fees. Actually, just the opposite. We pay all closing costs including document prep, title policy, and survey fees.
We certainly think so. We don’t require you to make repairs to your house, we don’t have any hurdles to clear for lenders, and we can get you your money very quickly. Also, when you sell to Cavadian, you will be assigned to a Property Specialist who will walk you through every step of the process.
Per Zillow.com, in April 2018 the average listing on their website sold in 68 days, from listing to close. That’s over 2 months to get your money. Our average for all-cash buys is 14 days. Selling to Cavadian is almost 5x faster than a traditional listing.