There are advertisements for cash home buyers on billboards across Jacksonville, Florida.
I’ve heard countless radio ads, seen announcements in the local paper and found flyers in my mailbox.
I never considered cash buyers a legitimate option. When I decided to sell my home in Jacksonville, I immediately started researching local real estate agents. I researched and discovered that most charge a five to six percent commission. The seller typically pays the entire fee. It’s deducted from the sale proceeds at closing. Another small percentage is deducted for closing costs. With a conventional sale, a home inspection is normally a requirement. The fee for an inspection can range anywhere from $250 to $1,000, depending on the size of the residence. In most cases, the inspection reveals concerns with the home. An older roof in perfectly good condition may not qualify for insurance. An outdated electrical panel, HVAC system, septic, water heater or any number of systems may need to be repaired, renovated or replaced. There might be issues with mold, termites or the foundation. Railings, carbon monoxide detectors and locks might need to be added to meet safety codes. All of these expenses are the responsibility of the seller. After all of the conditions are met, the potential buyer might still fail to secure lending from the bank. The deal could easily fall through. The thought of dealing with all of that as well as staging, photos and showings was more than I wanted to manage. I filled out an online contact form and got an offer from a cash buyer. The process was straightforward and streamlined. The cash sale eliminated all of the hassle and expense. The cash buyer took care of all of the details and arranged for the closing within two weeks.