Finding the Right Cash Buyer for Your Home: Auctions v. Local Buyer

When you know that you have to sell your house fast, and for cash, there are two options that most homeowners turn to:

  1. An auction which attracts buyers from all over.
  2. Selling to a local cash buyer.  

While the thought of attracting multiple cash buyers from outside your community through an auction might sound like the best way to get the most cash for your house, there are distinct benefits to working with a local real estate investor who will be a cash buyer.  A local cash buyer will allow you to sell your house fast, keep the most cash, with the added benefit of knowing your buyer.  Before you jump into an auction agreement, consider the benefits of a local cash buyer.

Which Process is Faster?

If one of your motivating factors is to sell your house fast, selling your home at auction might not be right for you.  While your house does sell the day of a real estate auction, there are often months of preparation.

  • A typical auction is advertised for at least 6-8 weeks before the actual sale takes place.  From the auction date, a buyer can have up to 30 days to close on the property.  
  • A local cash buyer will likely make a same  day cash offer and can usually close sooner than 30 days..

In addition to reducing carry costs by closing faster, a local cash buyer doesn’t charge any fees for buying your home.

Keep The Most Cash

In addition to a longer timeline, there are fees associated with selling your home at auction.  Auction sellers commissions can be as much as 10%, that’s more than a traditional real estate commission!  If you sell to a local real estate investor, there are:

  • No Closing Costs
  • No Commissions

The price you agree to with the local cash buyer is the money that is deposited into your bank account.  No additional fees, just your hard earned equity in cash.

Sell with a Clear Conscience

Selling to local real estate buyers can offer an additional piece of mind that is invaluable.  By selling to a local cash buyer not only are you looking out for your financial interests you can be confident that someone with interest in your community is buying your home.  Local cash buyers often already own property in the area and have a vested interest in improving local property values.  When you sell your home at auction you don’t know what the potential buyer’s plans are for the building.  They could improve it or neglect it and decrease home values of your friends and neighbors.  For many selling their home is an emotional decision as well as a financial one.  By selling to a local cash buyer, you can walk away cash in hand with the confidence that your community is in good hands.

Sell to a Cash Buyer Today

Selling to a local cash buyer allows you to sell your home fast without any additional time or money investment. If you decide you want to sell your house for cash, we hope you will consider contacting Central Illinois Houses Buyers. We can help you put a bad situation behind you and get on with your life regardless of the issue, job loss, death, divorce, deteriorating or unsafe neighborhood, foreclosure, lien or judgment, excessive deferred maintenance, or just wanting to make a fresh start.  Please give us a call and see if we can help.