The 3 Most Costly Mistakes Homeowners Make When Selling A Tired Old Property for Fast Cash

So you're thinking about selling your tired or run down house to a cash buyer. 

A great choice, but but before you dive headfirst into this, let's talk about the three most common & costly mistakes homeowners make when selling to cash buyers - and how to avoid making them. 

It's important you know this, because avoiding these mistakes makes a world of difference.

Mistake #1: Expecting Full Retail Value

When it comes to selling your house, I get it - you want top dollar. Who doesn't, right? 

But reality is, in order to get full retail value when selling to a cash buyer, you might as well list with an agent. Cash buyers are cash buyers because they need to make a profit. They simply can't pay you the same amount as a traditional buyer.

And let's face it - most people who sell to a cash buyer are trying to sell a property that hasn't been looked after that well and is either tired, run-down or a bit beat up. And you're selling to a cash buyer with all the houses for sale out there, putting it on the MLS with a conventional realtor means... it's just never going to sell. 

In return for taking less than full retail value, you get a very fast close... no closing costs to pay... a simple transaction... all cash... no finance contingencies... and no responsibility to fix up the property. In other words, Speed, Convenience, and Certainty. 

For most people, taking less than full retail value is worth getting these benefits. 

If these types of benefits don't interest you, however... and your primary goal is to get full retail value, and you're willing to do things like: wait to close... pay closing costs... work with a realtor... have them show your home to a variety of buyers until one of them puts in an offer... wait till the buyer gets approved for financing... do the repairs needed so your property can pass a bank inspection... have a more complicated transaction... make all the repairs required by the buyer, and from their inspection... they definitely go the conventional route.

Either way, I'm quite happy to chat with you on this. You'll find me to be kind and direct, and I'm NOT the least bit pushy. So if this isn't a fit for you, I'll be the first person to suggest you go the conventional route. I try to help people rather than force an outcome - life is just much easier and less stressful that way. And things have a way of falling into place when you operate like this. Service first is always the best way to work. 

Mistake #2: Not Disclosing Information

I get it - selling a house is a big deal, and you might be hesitant to share personal details with a cash buyer like myself. But reality is, the more information you provide, the better, and more efficiently I'll be able to help you.

For example, do you need to move ASAP? Or do you need to stay at the house after closing? Sharing this information allows us to tailor the transaction to fit your needs. I'm not just buying your property, I'm helping you move forward. And the more open you are with me about your situation, the better I'll be able to serve you.

Mistake #3: Making Unnecessary Repairs

Look, I know how tempting it is to spruce up your house before selling. But when it comes to cash buyers, it's just not necessary. In fact, you'll wasting your money. You might paint the house, or cover up some holes in the wall... only to find out this was a wasted effort since the cash buyer is going to completely rehab the property.

I'm sitting here as I write this, thinking about my own wife, who wouldn't be caught dead selling a property without vacuuming or dusting it first. And if you're the same kind of person, let me tell you the same thing I would tell her - don't do it, it's just not necessary. Relax and spend your time on other things you need to take care of, instead. 

As an alternative to spending your time and hard-earned cash on cleaning or repairs... focus on what really matters: finding the right cash buyer and packing and moving your personal items out of the property.

Conclusion:

Selling your house to a cash buyer can be a smart move, but it's important to avoid making these three common mistakes. Remember: Don't expect full retail value... be open in our conversations about your needs and about anything I need to know about the property... and save your time and hard-earned money by skipping unnecessary repairs. 

With these tips in mind, you'll be well on your way to a smooth and successful transaction. I look forward to helping you!