The local Dallas Fort Worth housing market is finally starting to balance out after we saw an increase in demand and shortage of supply during 2017 and 2018. Even so, DFW metroplex homeowners occasionally get the opportunity to sell a house for cash to a real estate investor or cash home buyer. If you are lucky enough to receive a cash offer on your Dallas Fort Worth house, you may be wondering how it all works.
How to Sell a House for Cash in Dallas Fort Worth
If you want to sell a house for cash in Dallas Fort Worth you have one of two options. The first option is listing your house for sale with an agent and indicating “Cash Offers Only.” Before choosing this route, you should understand that most home shoppers secure financing from a bank to buy a house. As such, when you choose to accept cash offers only, you eliminate about 90% of the potential buyers. If you are not in a hurry to sell your house and can afford to hold the property until you find the right cash buyer, this may be your best option.
Your second option is selling your house for cash to a local Dallas Fort Worth investor. Investors have readily available funding and can pay cash for your house, even if your home’s sale price is upwards of $200,000. Not many home buyers shopping for personal use have that kind of cash sitting around.
Benefits of Accepting a Cash Offer on a House
If you are trying to figure out how to sell a house for cash in Dallas Fort Worth, then you’re probably aware of the many benefits to accepting a cash offer on a house. The most obvious benefit is that cash home buyers can close much faster than buyers using bank financing. Also, a cash home buyer isn’t required to have a home inspection performed and they don’t have to follow the strict regulations put in place by the bank. A bank isn’t going to lend money to a potential buyer if the house needs repairs. It’s just too risky. However, real estate investors are accustomed to buying houses that need a little TLC and most don’t shy away – even if the house needs major repairs such as foundation work, plumbing or roofing.
Benefits of Selling a House for Cash
- Selling a house for cash is FAST.
- You won’t have to worry about financing falling through – even if your house needs major repairs.
- You may be able to skip the home inspection (if selling for cash to an investor).
- When you sell a house for cash you won’t have to cover the cost of paying the mortgage and maintaining the home while you wait for the sale to close.
- Cash is KING. You can take your money and move on with your life.
How Quickly Can a Cash House Sale Close?
If you choose to sell your house for cash you may be able to close within 7 days. That sure beats the typical 90+ day close offered in most real estate transactions!
Process of Selling a House for Cash
Get a Handle on Your Emotions
If you want to sell a house for cash in Dallas Fort Worth, you must start by taking charge of your emotions. When your life and finances are tied up in real estate, it can be easy to succumb to the power of emotions. If you can remove emotion from the process, you’ll be able to evaluate all of your options and make a logical decision.
Know the Dallas Fort Worth Real Estate Market (Especially Your Neighborhood)
If you want to sell a house for cash in Dallas Fort Worth by listing it for sale by owner or with an agent, you need to understand what buyers are willing to pay for your home. You can’t simply plop a FOR SALE sign in your yard with a price you pulled out of thin air. Remember, every buyer wants to get the best value for his money. You can bet your fanny that potential buyers are doing their research too! Buyers want to find the best house that suits their needs and budget. If you price your house too high, you risk waiting three to six months for the right cash buyer to come along. To avoid a stale home listing, you need to know what the other sellers are offering so you can price your house competitively.
“I don’t have that kind of time. I need to sell my house for cash fast!”
If you need to sell a house for cash immediately, start by researching what the other houses in your neighborhood with similar size, condition, and layout are listed for (or just sold for). Once you have gathered the data, make note of how long those homes were listed before they actually sold. If you can’t wait that long…consider selling your house for cash at a discount. How much of a discount are you willing to take to give the cash buyer incentive to act fast and buy your house for cash quickly? What will it cost you to hold onto the property for a few months? All of these numbers have to be taken into consideration when selling a house for cash in Dallas Fort Worth.
Create a Budget and Timeline for Selling Your House
It is important that you take a realistic look at whether your house can compete with other homes listed for sale in your area. If it can’t, you may need to consider making a few updates or needed repairs. If you have the funds for making improvements, create a budget and timeline for renovations. Be sure to include wiggle room in your timeline, just in case the house doesn’t sell quickly or unexpected things come up during remodel. If you don’t have the finances, time, or desire to make improvements and repairs, you can sell your house fast in as-is condition.
We Buy Houses for Cash Dallas and We Buy Houses For Cash Fort Worth
Happy Buy Homes is a local Dallas Fort Worth real estate investor. We buy houses for cash in as-in condition and we close quickly. If you want to sell a house for cash, we can make a fair offer on your home today. You won’t have to spend a dime on repairs. Our office is located just outside of Arlington TX, so we are close by if you’d like to schedule a time for us to look at your house.
Give us a call at (817) 345-6444 if you need to sell fast... we can make you a fair all-cash offer within 24 hours. No obligation or hassle at all. Take the offer, chew on it and decide if it’s right for you.