Before You Sell Your Mid-Missouri Home for Cash, Weigh the Pros & Cons Compared to Mortgage Offers 

In the modern-day selling market, there are various ways you can sell your home in central Missouri. Throughout the process, you may experience someone offering to buy your house all in cash. While cash offers may sound promising to Centralia, MO home sellers, there are several things to consider; and depending on your situation, a financing offer may be the smarter choice. With this overview, you can get a better idea of which selling option will fit your personal needs.

Advantages & disadvantages of selling a house for cash in Centralia, MO 

The pros 

• Sells faster: A cash offer is significantly faster than selling through a finance offer. Because cash buyers don’t have to go through bank approvals or appraisals, you can typically sell the home in up to two weeks. 
• Simple closing process: When selling a house for cash, you can skip many of the traditional closing procedures such as complicated paperwork, lender approvals, and inspections. If you want a short and simple closing option on your home for sale, cash offers may be beneficial to you. 
• Less need for repairs: Another advantage to cash offers is that you can spend less hassle on renovations and repairs. Cash buyers usually purchase a home in central Missouri as-is, so you don’t have to wait as long making changes to the home before you sell. 

The cons 

• Lower offers: One of the biggest downsides to cash offers is their tendency to shoot lower than the market value. While you’re selling the home on a much quicker timeline, you also may be settling for less than you would with a financing offer in mid-Missouri. 
• Hidden costs: Many cash offers on homes are either from home flippers or iBuyers, and as a result, you may face “service fees” that are not ideal for your situation. 
• Less room for negotiation: Because cash offers are typically upfront, it may be more difficult to compromise with the buyer on prices. When accepting a mortgage offer, you can negotiate to make more money out of your central Missouri home. 

The benefits & downsides of financing offers on a home for sale in mid-Missouri 

The pros 

• Flexibility in timeline: Where quickly selling a home for cash may be beneficial to some, it’s not the greatest if you’re in the market to buy a home at the same time. With a mortgage, you’re allowed to take your time on closing and other elements of the house selling experience. 
• Sell for more: Traditional home selling generally offers more money to sellers in Centralia, MO. If you would prefer to sell closer to your home’s true value and have more financing space as you search for your next house, you should definitely consider mortgage offers over cash offers. 

The cons 

• Sales take longer: From accepting competing offers to the final closing period, selling a home in mid-Missouri can take 60 days or longer. If you don’t have the time to wait and need to sell a house fast, financing offers may not be your best option. 
• More contingencies: Part of the reason mortgage sales are more time-consuming is because of appraisal requests, repairs, and lender approvals. Thus, you may need to spend more time preparing your home for sale and making sure it’s in adequate condition for the buyer.

Successfully Sell Your Home in Centralia, MO With the Professional Real Estate Agents at Adams Realty! Reach Out Today 

However you decide to sell your home in central Missouri, Adams Realty will make sure you have the right real estate agent by your side to help. We have been serving sellers and buyers in Centralia, MO since 1982, and our team will work diligently to meet your requirements on both sides of the transaction. Consult with our real estate agents today!