When it comes to selling your home to we buy houses Kansas City, the dream scenario is to complete the transaction as quickly as possible while still getting the full asking price. Of course, home sales don’t always work out this way.

Occasionally, a house languishes on the market, prompting price reductions that erode profit margins. Such scenarios can be frustrating, to say the least. Even in a hot market where “for sale” signs don’t last long; you might need to be sure your house will attract the attention of the we buy houses Kansas City MO companies.

Although offer price is undoubtedly the most significant factor sellers consider, it’s not the only thing in play. Sellers with smart Realtor and savvy sellers know that they must understand the whole offer other than price alone. 

This blog explores what you may consider other than price when accepting offers from Kansas City we buy houses.

All-Cash Offers

Financing is one of the reasons contracts fail. Once the buyer realizes that they can secure mortgage, they’ll back out of the contract. In this case, the home seller will have to market his house again, field offer, and negotiate for better deals. This leads to waste of time and resources. It might also compromise the very reason motivating house sale, including emergencies like relocating school or medication.

If you can pay cash, you’ll likely win out over a higher-priced offer, every time. It may sound impossible to make such a huge purchase without any financing, but many people do it. According to RealtyTrac, 43% of all home sales in 2014 were all-cash deals. That’s because with an all-cash buyer, there are no mortgages and lenders involved, escrow closes faster, and there’s no appraisal to worry about.

An All-Cash Offers eliminate all the hassles for house sellers since they’ll be able to close on the deal as quickly as possible without having to wait on mortgage. All-Cash offers are for this matter more appealing than the highest offer and will enable you sell my house fast Kansas City.

Pre-Approval Letters

While pre-approval letter for mortgage isn’t a requirement when selling a house, it can give house sellers an added advantage, especially in a hot market. Since financing is the greatest barrier to closing on most deals, being pre-approved a step ahead of selling the house.

While having the letter is not a guarantee that you’ll be financed to buy the house, it affirms the seller that the buyer is at least working with a lender. And a lender doesn’t just approve the potential buyer from a vacuum. They need to present documents showing their debts, income, and assets. 

The pre-approved letter also indicates that the potential buyer has qualified for a mortgage. Not only that, it specifies the amount they can borrow within 90 days. Essentially, the letter reaffirms that the potential buyer is qualified for a mortgage. In this case, the pre-approved letter may be appealing even if it may not be the highest offer. 

Of course, in house selling, sellers often want to close on the deal as quickly as possible while hoping to avoid hassles. Pre-approved letter eliminates all the hassles sellers may have to experience along the way.

Flexible Timeline

Although price offer plays a decisive role in closing the deal when selling your house, time might be more appealing to some extent. When the buyer is more flexible, it’s be more appealing, especially if they’re willing to close on the deal as quickly as possible.

Home sellers hope to sell their house fast, so quick closing matters to them, especially when they need to relocate due to job or ant to buy a new home. Also, you may be selling your house to avoid foreclosure. In this case, time will be more critical than the highest offer. 

On another end, when you wish to stay in the house for longer, maybe you’re selling the house but still living there due to your kids schooling, getting the buyer who’ll be willing to wait until schools are closed is more appealing than those offering the highest bid but need to move in immediately. 

To this end, time flexibility plays a great role, specially when time matters to you more than what the highest offer offers. You’ll definitely accept the offer with time flexibility over the highest offer.

Waived Contingencies 

Contingencies are clauses that are included to protect the house buyer; they can opt out of the contract without suffering any liability, especially if certain conditions are not met. These contingencies are not limited to appraisal, home inspection, home sale, and financing contingency.

Home inspection contingency demands you to inspect and determine if any repairs and improvements are needed to be done. It requires you to pursue the repairs or lower the house price. The buyer can opt out of the agreement if not the contingency is not met. Luckily, we buy ugly houses Kansas City experts will waive this contingency. 

The mortgage lender requires the house to appraise for at least the loan value before approving the mortgage. It gives the buyer power to abandon the agreement should you fail to appraise the house.

Financing appraisal requires you to secure financing for mortgage within a given period of time but before you proceed with the contract.

Home sale contingency requires you to sell the house before closing on a new one. 

Therefore, the less the contingency the buyer offers, the more appealing it’s to you. Highest offers usually come with more and inflexible contingencies. Thus, leaving you with no option but to accept offer with the least or flexible contingencies. 

Offers with “We Love Your House, Let Us Buy It” Letter

While you are in the market and your house is now a product for sale, sometimes it’s difficult to eliminate emotion from the equation. Evidence is amounting that most house selling processing are still determined emotionally. 

Although it’s a cheeky way, sometimes receiving such offers with a heartfelt letter notifying you how the potential buyer wishes to raise their family in the same home might influence you to accept that offers. 

Conclusion

When considering selling your home to a we buy houses in Kansas City companies, it is vital to identify the right company. To do this, it is essential to research the company’s reputation and ensure they are legitimate. Nevertheless, you’ll realize that several factors other than price are in play when determining which offer to accept.