The traditional method of selling a house where you hire a real estate agent, list the house, and put it on all of the real estate sites will certainly pay off to a larger sales price in the long run, but the fact is that you will have to wait for the result.
On the average, if a house is sold today for cash, the resulting sales price is 65% less than if the house is sold in a traditional manner.
However there distinct times when such a sale is not only appropriate, but necessary.
For example in the case of an estate situation, the house can be sold resulting in an immediate cash inflow to the estate, and reliving the heirs of the upkeep and dealing at all with a house that nobody in particular might want to bother with.
In cases where the deceased is an older, single person, all of the relatives may live out of town and it might be inconvenient to have to take care of the house.
Another situation where you could get cash for your house today and find it to be to your advantage is where you find yourself in severe financial difficulty, and a cash sale relieves you immediately from that situation.
First of all, you will receive a lump sum of cash which can be used to pay off any debts, taxes or obligations that you might have.
In addition, you will be shed of possible high mortgage payments, thus relieving you of even more financial obligations.
Since you will still need to have a place to live, you could choose to live in less expensive accommodations.
Situations where the seller is in financial distress, needs to move the house quickly, or in certain estate situations, this can be a good strategy.
In most instances the decision will be readily apparent right away, as the situation will dictate what must be done.
When the seller takes the traditional route, he or she is saying that they are willing to wait for their money because they can wait and they know that their payoff will be much larger.
When you are in this envious position, you can afford to wait even though it could take months to get the price you want.
You are able to do this because you know that the circumstances where waiting will be no problem as you know you can weather the period of time of waiting.
However, you may be in a difficult financial situation where if you could get cash for your house today, your problems would be solved.
If you could get your financial problems solved in one fell swoop, the lesser price you are supposedly getting won’t matter if you get out of financial trouble.