Cash For Homes is Icing On a Cake.
Why should anyone take cash for homes? Cash for homes means a lower price to the seller. But lower than what price? Lower by how much? You’ll never know unless you investigate the possibilities. If the value of your home is a great big cake think about how it gets sliced and eaten up by diners other than you.
- The biggest slice probably goes to your mortgage company who may well charge you an extra slice for selling earlier than they agreed to, and a further slice for arranging to eat the two previous slices. In fact it’s probably a much better way to think of your home value cake as an equity cake. An equity cake will be much more comparable in size to a cash for homes cake.
- Your selling agent is going to take a slice of 1 to 2%. Even flat fee sales options will take a fair slice.
- You are going to give away an invisible slice in time hunting down a reliable estate agent. What is your hourly rate of pay if you were to work instead? What is your leisure time worth to you?
- Your solicitor is going to take a heavy slice that is a little difficult to determine in advance and they might even take a bonus for speeding the process up by a number of days.
- You are going to give away a further invisible slice in time by spending it in finding a solicitor in the first place. Then you’ll need a new mortgage and all the other professionals involved in the complex process of selling your home.
- Various surveyors and assessors are going to take a slice for any number of incomprehensible reports.
- You are going to give away yet more invisible slices of time accommodating those surveyors and providing them with the data to be made incomprehensible.
- Then there is another give away as an invisible slice in time spent showing your home to any number of po-faced prospective buyers.
- You’ve already given away slice after slice of time when you’ve cleaned up, washed down and redecorated in order to appeal to the tastes of an imagined buyer.
- You’ve given away hours of your life to repaint the front door and trim the garden for the whole period of the sale time.
- Communication costs cash too and it’s a slice of the equity value cake that is rarely thought of. Phone bills, postage costs, and time spent waiting for messages to be received read and replied are significant nibbles.
There is a lot to think about isn’t there? Is the traditional way of selling your home really such a good deal? Could cash for homes make for a sale that actually lets you have more of your cake and eat it in short time? Try it on an Internet search before you give away too many slices and you get sucked in to the stressful home sale arena.
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