Part of the Fast Home Selling University educational series
Many Oregon homeowners who need to sell their property are getting confused by a “new” option: Cash home sales. While this isn’t really a new option, it is becoming more popular as sellers realize the benefits.
Cash home buying is a trend that has been gaining momentum in the US real estate market, especially in some regions where home prices are relatively affordable and competition is fierce. A full 30% of U.S. home purchases in the first four months of 2021 were paid for with all cash, up from 25.3% in 2020.
This article is a guide for Oregon home sellers on what cash home selling is, how to decide if it’s right for you, and how to start the process.
The two ways to sell an Oregon home for cash
One option is to list your home for sale on the market through an agent the “traditional” way and wait for a buyer who can pay for it in cash instead of financing. Another option is to sell your home to a home investor who can buy your home for cash immediately. Here are some of the main differences between these two options.
Listing your home for sale and waiting for a cash buyer
This option might give you the most pricing flexibility, as you can negotiate with multiple buyers and choose the best offer. However, this option will take longer and cost more, as you have to prepare your home for sale, pay for marketing, staging, inspections, repairs, closing costs, and commissions. Additionally, finding a cash buyer may not be easy, as most buyers rely on financing to purchase a home. Any cash buyers are usually looking for a bargain or have specific criteria for the home they want. Furthermore, even if you find a cash buyer, there is no guarantee that the deal will close smoothly, as there may be issues with the title, appraisal, or contingencies. Learn more about selling your home for full market value.
Selling your home to a home investor for immediate cash payment
This option is the fastest and easiest way to sell your home, as you can avoid the hassle and expense of listing your home on the market. Home investors like ibuyhaus will buy your home as-is, meaning you don’t have to invest in any repairs or improvements. They can also pay for all the closing costs and fees, and close the deal in as little as 7 days. However, these benefits typically mean a lower price for your home, since the investor must pay for repairs and renovations, and take the risks involved with selling your home at a later time. Additionally, just like with real estate agents, you should be careful when choosing a home investor, as not all of them are reputable or trustworthy. Learn more about how ibuyhaus promises fair pricing for offers.
What are the benefits of selling your house for cash?
Selling your house for cash has many advantages, especially if you need to sell quickly, don’t want to deal with repairs or staging, or want to avoid paying commissions and fees. Here are some of the main benefits of selling your house for cash:
- Speed. You can begin right now by completing the form on this page and receiving a rapid offer price, and you can close the deal in as little as 7 days, or on your preferred timeline. You don’t have to wait for a buyer to get approved for a loan, or for inspections and appraisals to be done. You also don’t have to worry about the deal falling through at the last minute.
- Convenience. When you sell your house for cash, you don’t have to do any repairs, cleaning, or staging. You can sell your house as-is, in any condition, even if it’s ugly, damaged, or outdated. You also don’t have to show your house to multiple strangers or deal with the hassle of negotiations and paperwork.
- Savings. When you sell your house for cash, you don’t have to pay any commissions, fees, or closing costs. You get to keep the full amount of the offer, without any deductions. You also save money on utilities, taxes, insurance, and maintenance while you wait for a buyer.
What are the drawbacks of selling your house for cash?
Selling your house for cash is not for everyone. There are some potential drawbacks that you should be aware of before you decide to go this route. Here are some of the main drawbacks of selling your house for cash:
- Lower offer. When you sell your house for cash, you might get a lower offer than what you would get on the open market. This is because professional home buyers like ibuyhaus need to factor in the costs of repairs, holding, and reselling the house. However, keep in mind that the offer is not the same as the net profit. You might end up with more money in your pocket when you sell your house for cash, after deducting all the expenses that come with a traditional sale and considering the market risks.
- Less competition. When you sell your house for cash, you don’t get to benefit from the competition among buyers that can drive up the price of your house. You also don’t get to test the market and see what other offers you might get. However, keep in mind that selling your house on the open market is not a guarantee of getting a higher price or a faster sale. You might end up with a lot of stress, uncertainty, and hassle along the way.
- Risk of scams. When you sell your house for cash, you need to be careful about who you’re dealing with. There are some unscrupulous individuals or companies that might try to take advantage of you by offering lowball offers, asking for upfront fees, or using shady contracts. That’s why it’s important to do your research and work with a reputable and experienced professional home buyer like ibuyhaus.
How does the process of selling your Oregon house for cash work?
The process of selling your house for cash is simple and straightforward. Here are the steps involved:
- Contact ibuyhaus. You can call us at (503) 482-8693 or fill out our online form on this page to tell us about your property and situation. We’ll ask you some basic questions and schedule a time to visit your house.
- Get a fair offer. We’ll make you a fair and honest offer based on the current market value and repair costs. We’ll also explain how we arrived at our offer and answer any questions you might have.
- Accept or reject the offer. You can take as much time as you need to decide whether to accept or reject our offer. There’s no obligation or pressure from our side. If you accept our offer, we’ll sign a simple contract and move on to the next step.
Close the deal. We’ll handle all the paperwork and details with a reputable title company. You can choose the closing date that works best for you. We’ll pay you in cash and take care of everything else.
Why choose ibuyhaus as your professional home buyer?
There are many reasons to choose ibuyhaus as your professional home buyer. Here are some of them:
- We buy houses in any condition. We buy ugly houses, damaged houses, outdated houses, inherited houses, foreclosed houses, and more. We don’t care about the location, size, or situation of your house. We’ll buy it as-is, no matter what.
- We offer a fast and hassle-free service. We can close the deal in as little as 7 days, or on your preferred timeline. We don’t need any inspections, appraisals, or approvals from banks or lenders. We also don’t charge any commissions, fees, or closing costs.
- We are a local and trusted company. We are based in Oregon with a local team and many happy clients. We know the local market and we have helped many homeowners sell their houses for cash. We have a great reputation and we follow our promise to every seller.
- We are friendly and professional. We treat every seller with respect and honesty. We listen to your needs and goals and we offer you a fair and transparent solution. We are always available to answer your questions and guide you through the process.
