If the time has come to sell your home, you'll want to find a suitable buyer who can offer you at least the amount of your asking price or possibly more. Like many other sellers, you'll likely be faced with one pivotal decision: sell the home for cash or to a buyer who wants to finance? Private buyers and some companies are willing to submit all-cash offers that don't involve mortgages, and selling your home for cash can have several advantages.

Greater Assurance

A cash buyer will need to prove their financial means to you before they can secure a deal for the home. A buyer who wants to get a mortgage instead still needs to show their financial details to a lender but may not end up qualifying for the loan after a more extensive review process, and this can waste a lot of your precious time and may even cost you opportunities to receive better offers from qualified buyers. Cash buyers are often more serious about getting the home if they're willing to pay the entire amount for the home in full, which can give you even more assurance.  

A Faster Closing

Many home deals that involve cash offers can close in as little as two weeks or less, and this can save you a lot of time and extra steps if you're eager to sell and move quickly. After verifying the buyer's funds, securing the home title and any escrow contracts, and having the home inspected and appraised, the cash deal can go through without any other long delays. If a buyer needs to finance the home purchase with a mortgage instead, you'll probably need to wait at least 30 days or possibly even longer than 60 days for the deal to close.

Lower Costs

Cash deals usually don't involve as many fees that you or the buyer have to pay for the deal to go through, and this can make selling your home for cash even more desirable. You'll pay less in closing costs when you accept a cash offer instead of an offer from a buyer who wants to finance. Cash buyers are often more willing to buy a home in its "as-is" condition, which may save you from having to pay for home repairs and upgrades that another buyer might require before agreeing to the deal.

You can possibly move on to your new life faster and with fewer obstacles standing in your way if you sell your home for cash. There are many honest and qualified cash buyers who may be willing to buy your home outright, and agreeing to one of these deals can take much of the headache out of the selling process.