After a couple of chaotic years where housing prices jumped to record levels and everyone with a home seemed ready to sell it, the real estate market is leveling off. Prices have peaked in most parts of the country, and the inventory has loosened a bit. It’s less competitive, and that’s likely due to rising interest rates, the latest increase landing on November 2, 2022.

Those higher interest rates mean mortgages are less affordable. Cash, once again, is king in the real estate market. If you want to sell your property, consider the benefits of selling your house as is for cash. Plenty of investors are looking for places to park their money, and they don’t have to worry about getting a loan or negotiating with lenders. Cash is their currency, and they are ready to buy.

You should be ready to sell, especially if you’re interested in managing money by liquidating one of your most valuable assets.

Here are three great reasons to sell your house for cash right now –

(1) You Don’t Have to Make Improvements

Most people sell their homes in order to make money, but it’s easy to forget that there’s often an investment required before you even list and show your property. Most buyers are looking for a home that’s move-in ready, or close to it. They’ll want fresh paint and clean floors. Appliances will be evaluated as well as lighting and fixtures.

For a traditional sale, this is pretty normal. In fact, 89 percent of recent sellers claim to have made upgrades and improvements during the sales process. When you’re selling your property as-is, however, you don’t have to worry about making the improvements that will attract those high bids and picky buyers.

While it’s always a good idea to sell a well-maintained property, one of the benefits to selling your house as-is for cash is that you can still sell it if things aren’t working the way they should. Maybe you need a new furnace. Or a new roof. It’s possible the stove isn’t working or the garage door gets stuck.

That’s okay. You don’t necessarily need an appraisal when you’re selling for cash. Appraisals are almost always required by the mortgage company, and when you’re doing a simple cash sale, there’s no lender to appease.

You might need to accept a lower offer when you sell for cash, but always consider the thousands of dollars you’re saving in repairs and renovations.

(2) You’ll Close On The Sale Faster

Cash transactions move along a lot faster than those involving a lender.

You won’t have to worry about the buyer’s mortgage application, documentation, or underwriting. Usually, an appraisal is not required either, so the closing date can be scheduled as soon as an offer is made and accepted.

If you’re eager to get out of the house and move on, a cash sale is going to help you get there. Potentially, you can expect to close in a week or two. When both the buyer and the seller are motivated to get the deal done, there’s no reason to drag the process on. All of the negotiating will be done when the offer is made. Once there’s an agreement, all that’s needed is the paperwork and the exchange of keys and funds.

(3) Less Risk And Zero Contingencies

Selling your home as-is for cash means less risk. There’s not much chance that the deal is going to fall through because of underwriting concerns or financing delays. You don’t have to worry about the mortgage company pulling out at the last minute, and there won’t be any haggling over inspections and appraisals.

This provides you, as the seller, with more peace of mind. The sale will close as expected.

Contingencies can always hold up a lender-driven sale. But, when you sell for cash, you don’t have to argue about the contingencies or worry that the buyer will change their mind because you can’t complete the work that has been requested.

Who Is Making Cash Offers For As-Is Real Estate?

Once you decide that you’re willing to consider cash offers for your property in as-is condition, you’ll need to know who you’re targeting as a buyer. There are a few specific groups of people who are most likely to take your home in the condition it’s in for cash.

Real estate investors who plan to either flip the property or use it as a rental investment are likely to pay in cash. They’ll want to make their own repairs and cosmetic improvements, so buying as-is will be part of their investment strategy.

A number of online home purchasing companies or iBuyers will sometimes make you an offer without even seeing the home. You’ll be asked to provide information on the property and maybe create a video tour for them. Then, they’ll have a cash offer for you based on their data.

Your home might also appeal to buyers who have managed to save a lot of money and would prefer to avoid the cost of a mortgage by paying in cash. These could be retirees or even buyers who have sold a home and want to use those proceeds to pay in cash for their next home.

The way you manage your real estate is part of your overall plan for managing money. If you’re ready to sell and you want to move quickly without investing a lot of your own funds in preparing the home for the market, consider the benefits of selling your house as is for cash.

Author Bio:

Shawn Manaher is a former financial advisor, has founded 5 online businesses, and is a coach, speaker, podcast host, and author. He’s been featured on Forbes, The Consults Corner on TAE Radio, The Writing Biz, What’s Your Story, and more.

He loves to share his personal finance tips and money management wisdom with others on his website, ShawnManaher.com, to help them find financial freedom.