Want to hear a shocking statistic? Well, here it goes. As of 2021, nearly 30% of homes purchased were completed in cash. And that was up from 25.3% in 2020 (according to the Washington Post) which is absolutely amazing. Why, you may wonder? Well, in a world where local home sellers have had to increasingly rely on traditional type buyers (who purchase houses with mortgage loans and, as such, regularly fall through), these stats show us that selling properties in cash is becoming increasingly possible.
Homeowners who manage to sell their houses for cash in Minneapolis MN experience quite a slew of advantages. These benefits of accepting a cash offer on your houses include the fact that you’ll be able to sell fast (because you won’t have to wait for conditional mortgage loans to be approved) and you’ll be able to sell your house in “as-is” condition (without having to make repairs). In addition to this, you’ll get cash in hand and you’ll be able to avoid all the expensive costs and fees that regular homeowners have to cater for (e.g. bank transaction fees, document fees, closing costs and in some cases, agent commissions.)
If you’re at all interested in all of this, read on to learn more about cash home buyer companies in Minneapolis MN, and everything you need to know about making when it comes to making a real estate transaction with them.
On the flip side, if you already know enough about cash home buyers and would rather prefer to read up on how to find out if a company is real and trustworthy or a scam, we’ve got you covered too. Catch this blog post where we expand on the signs of a reliable cash home buying company in South Saint Paul.
Understanding Cash Home Buyers in Minneapolis MN
Unpack everything you need to know about selling a property for cash below.
Finding reputable local Minneapolis house buyers who pay cash for homes can be a daunting task. However, with a little research, you will find that there are several investors out there who are interested in purchasing your property for cash.
Here are some of the things you should look at when you’re working with local cash home buyers.
Understanding Time vs Price When Selling a Home for Cash
As you may suspect, it is not easy to get the full market value for your home when selling it fast and for cash. To get the full market value of your house, you may have to wait 65 days or longer. This process will often require a real estate agent, whose role will be to market your house and find you the best buyer possible. But hiring an agent isn’t cheap. Real estate agents charge a commission (usually between 3-6% of the sale price).
So the question then becomes, if it takes you 6 months to sell and you have to pay a 5% commission, is that worth the wait?
On the flip side, working with a cash home buyer can be so much faster. Consider our company, FastPath Home Buyers, for example. If you reach out to us, we will evaluate your house, determine its maximum worth after a complete refurbishment, consider how much we’ll have to invest in repairing and renovating the property, think about how long it will take us, and get an all-cash offer to your doorstep… all within the time span of a few working hours.
In addition to this, unlike most conventional buyers, we can close in as little as 7 days. So if selling your house fast with zero hassle at all is more important than getting every penny out of the sale, working with a cash home buying company like ours may be your best bet.
Avoiding Workloads When Selling a Home for Cash
Another big factor that deters local Minneapolis home sellers from selling their houses, either by themselves or with agents, is the massive workload involved. From cleaning your house, funding repairs, posting “For Sale” signs and hosting open houses, you’ll have your work cut out for you before everything is said and done. And let’s not forget having to deal with traditional buyers who will often fall through at the last minute and make everything so much more difficult.
Instead, all of this could be avoided by opting to accept a cash offer for your property in Minneapolis MN.
How to Sell Your House for Cash in Minneapolis MN
Read on to find out how you could go about generating a cash offer that you can accept fast.
But then the question becomes, how would one go about finding a real estate investor type buyer who’s willing to accept their home quickly and pay cash? And what are the signs that a cash buyer is reliable? Well, if you’re curious about this, here are the three most common ways you could go about selling your house for cash in Minneapolis MN.
Sell your home fast for cash with a Real Estate Agent
Using a real estate agent is one method that will ensure you get the full retail value that your house is worth. As such, if you have a bit more time (between 3-6 months) and can wait for the right retail buyer to come along, listing your local Minneapolis MN house with a real estate agent is a great option.
However, this begins by finding the right agent. Start by asking at least five local Minneapolis agents to assess your home. Also, ensure that they show you some comparable houses that they have recently sold for cash before you hire them. The agent you settle on should list your house on as many property websites as possible, in order to broaden your market reach, then put it on the local Minneapolis area MLS (multiple listing service).
It is also important that they advertise your home in local publications. Buyers tend to look at magazines, newspapers, etc. To help speed up the process, consider offering the agent an attractive incentive if they manage to sell the house within a specified time frame. With this option, you will of course pay the real estate agent commissions, so be prepared to add that into your overall costs.
Sell your home fast for cash with a FSBO Listing
According to experts, 90 percent of all property searches now begin online. So if you have the time to wait for your property to sell traditionally, and you have the will to do all the work yourself, selling your Minneapolis house “For Sale by Owner” may be a good fit.
There are tons of web-based real estate agents that you can approach to list your home on their websites. Some of these agents will even let you purchase a listing on the MLS for $300-$500+. Additionally, you can list your home on websites like Craigslist as well as online property directories in your area. To attract potential buyers, be sure to accompany your listing with clear photos of your home.
Sell your home fast for cash to a local Investor
However, if you’re strapped for time and are looking for a quick buyer, selling your house fast to a local Minneapolis home buying company such as us here at FastPath Home Buyers is a good option to consider. We buy homes in Minneapolis MN and throughout surrounding areas in Minnesota.
Specifically, we target sellers who need to sell fast. If you’re looking to get the full market retail value on your home, and you have time to wait for up to 3-6 months and pay an agents commission, we might not be the best option for you. But if you need to sell your house fast and are willing to sell it for less than the full retail value without having to pay any commissions or added fees, we’d like to make you a fast-fair offer on your house today. Call us directly at (612) 351-2384, or fill out the short form at the bottom of this blog.
Time and money are crucial factors to consider when you are trying to sell your house. If you need to sell your Minneapolis house fast, reach out to our company today. At FastPath, our main goal is to help local home sellers sell their houses quickly and easily (without having to deal with the stresses of selling on the open market with an agent).
If you sell your home to our company, you won’t only get a fair all-cash offer. You’ll also get a company that is prepared to help you navigate your way through whatever situation you may be facing, be it: foreclosure, divorce, the loss of a loved one, job loss etc. We also accept houses “as-is” (meaning you won’t have to worry about cleaning or repairs). So contact us now, either by calling (612) 351-2384 or by filling out the short form below to get your cash offer today!
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