What is a cash offer in real estate?

What is a cash offer in real estate?

Cash offers for houses are at an all-time high in Georgia.

According to The Atlanta Journal-Constitution, “Money talks. Loudly. And cash has increasingly been the language of home buying in metro Atlanta as 53% of purchases last year were made in cash. That's more than double the share of purchases in cash recorded two years earlier….”

In Georgia, cash sales are even higher in some cities than they are in Atlanta, with Augusta at 72.1%, Columbus at 69%, and Athens at 60.6%, according to TheStreet.com. What is driving these sales, and what is a “cash offer" in real estate? 

What is a cash offer for a home, and why is it popular? 

When a buyer makes cash offers for houses, it means that the buyer has the financial means to buy the properties outright, without a mortgage loan. The popularity of this type of sale in Atlanta is due to several things.

Retired people from northern states often sell their homes and use the money to move south to the Peach State and warmer weather. They can frequently afford to pay cash from the profits of their sold house. The same holds true for people who can work remotely. They sell their more expensive house up north and can then pay cash in Atlanta or other Georgia cities. 

Another factor driving cash-for-house sales is the current high interest rates. People would rather pay cash, if they can, than borrow and have to pay an interest rate of 7.49% on a 30-year fixed mortgage loan, or even 6.70% on a 15-year loan. 

Investors and cash house buyers, in the form of companies or individuals who flip, round out the cash house-buying market in Atlanta. 

Should you consider selling your Atlanta house for cash? 

Cash offers for houses can provide several benefits. Cash buyers are more willing to buy houses that need some repairs or updates, meaning you don’t have to invest money in preparing the house for sale.  

Cash sales are usually faster than selling the traditional way in Atlanta. If you accept an offer from a cash-for-houses company, the sale usually has fewer complications. Traditional sales in Atlanta can sometimes drag on for months, especially now that the housing market has slowed down. But if you sell directly to a reputable cash-for-houses company like HomeVestors®, the sale can often be wrapped up in less than a month.

Selling a house “as is” to HomeVestors® in Atlanta 

If you are thinking of selling your house for cash, consider selling to HomeVestors in Atlanta to get some great benefits! We charge no commissions, have no hidden fees, and pay typical closing costs. When you sell to us, you can pocket that 6% commission typically paid to a real estate agent. We close fast and buy houses in “as is” condition. You don’t have to make any repairs, paint, or even clean your house.  

Contact us to make a free, no-obligation, in-person appointment with one of our friendly Atlanta property specialists. We’ll take a tour of your house and answer your questions. We can often give you a fair cash offer the same day. If you accept our offer, we can frequently close in as little as 3 weeks!  

We’re honored to have earned a 95%* customer satisfaction rating and amazing reviews from our sellers. Get in touch with us today for more information about selling a house “as is” to HomeVestors.