Should You Sell Your House for Cash in Lakewood?

Juliet D'cruz

Updated on:

We know it’s not an easy decision to make: to sell your house fast in Lakewood because of several reasons. Moving to a new city? Is it time to bid farewell to Lakewood, the land of peace and safety? You don’t have to be moving to a new city before you need a quick home sale in Lakewood; you could just be downsizing to a condo or eager to tap into your home’s equity.

We buy houses in Lakewood, CA, and are ready to add yours to the list, but not until you are sure about accepting cash for your home in Lakewood. It’s quite clear that you need to sell your home in Lakewood, but are you convinced of the right way to go about it.

What is a cash offer?

Occasionally, people wonder, how do I sell my house in Lakewood, but hardly will you come across someone who isn’t willing to get over this phase as fast as possible. As a result, accepting cash offers comes into play; whence comes the thought, should I sell my house in Lakewood for cash?

What then is a cash offer? Does it involve a buyer showing up at the negotiating table with a wad of cash? A cash offer is simply an all-cash bid from a buyer, which means there’s no mortgage or other financing involved. Sellers are known to consider and prefer these types of offers because of the possibility surrounding the deal’s success.

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What Reasons Should You Consider Before Selling Your House For Cash?

Why should you consider the possibility of accepting cash offers on your property? You must choose a way to sell your property. Otherwise, you will be as one who is looking for a needle in a haystack. However, people have different reasons for wanting to list their homes. Nonetheless, everyone facing the possibility of accepting a cash offer should understand that you can consider cash offers because:

  1.   It’s the best offer: depending on your needs, a quick closing, waiving certain contingencies, or even the pricing can be the reason why cash offers to suit your needs the most.
  2.   Do you own a rental property that you’re struggling to fill with tenants? It’s best to sell such property and cash in on the equity as fast as you can.
  3.   Inherited property? Countless times we have come across homeowners who inherited a property and said, “I don’t have the resources to maintain this inheritance; I need to sell my house fast in Lakewood, CA.” On other occasions, we’ve had homeowners suggest the use of such property for rent. If you decide to cash in on such property, we buy houses for cash in Lakewood, CA.
  4.   Sometimes, homeowners consider cash offers because of urgent/emergency financial needs. In that case, selling your house for cash is the best way of accessing its equity fast.
  5.   Selling a home to buy another house? You will need to make a down payment on your new property, and you need money to do that. Such payments can be funded by cashing out on the equity of your current house. In the same way, you are considering accepting cash offers, making cash offers on property positions you as a competitive buyer of your next abode.

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Benefits Of Accepting A Cash Offer On A House

Minor differences that many consider as deal breakers are the reason for discussing cash offers over traditional sale methods. Some of these differences can decide whether you sell for cash or sell the conventional way. We buy houses in any condition in Lakewood, CA, but you should consider accepting our cash offer because of the following advantages:

  1.   Fewer contingencies: Specifically, there will be no need for mortgage contingency since it’s an all-cash offer. However, this doesn’t mean buyers won’t request other home-buying contingencies, for instance, delayed closure for someone looking to buy and sell in Lakewood concurrently.  
  2.   Less risk: Once a buyer requests a mortgage, the power to close the deal is automatically transferred from the buyer to the financing company. Upon rejection, the deal falls through. Risks such as this have no ground when you sell your house to a cash buyer.
  3.   No appraisals: This is one primary reason why mortgage loans are sometimes rejected or delayed. Before a mortgage loan can be approved, an appraisal has to be done on the property. Since cash offers require no mortgage, appraisals become an option, not a necessity.
  4.   Shorter closing process: You may be able to close in as little as two weeks since there is no mortgage application and underwriting process to wait for. Although, you will need the buyer’s proof of funds and enough time to round up the closing process. So, the timeline can vary, but a cash offer gives the fastest one to sell your house fast in Lakewood.