Sell Your House for Cash: For Some, the Convenience Can’t Be Beat

It wasn’t long ago that the decision to sell your house for cash was associated with a neglected or foreclosed property whose value had plummeted, as an investor swooped in to snatch it up for a bargain.

While that still happens in scenarios where a seller can’t afford repairs or is facing serious issues with a property, cash sales have expanded beyond the distressed homes market as sellers benefit from new technologies, instant sale platforms, and a competitive housing environment that has increased the percentage of cash offers.

Let’s take a look at what it means to sell your house for cash in today’s market.

Cash’s continued clout

With the competitiveness of the market, cash has persisted. Buyers who can make all-cash offers are doing so to avoid higher mortgage rates.

In April 2024, all-cash purchases accounted for 28% of all home purchases, according to the National Association of Realtors (NAR).

“For buyers who have the means, paying in cash is a way to get a leg up against other offers, because sellers will almost always prefer a cash offer to an equivalent financed offer and will sometimes even prefer it to a higher financed offer,” says Eric Hughes, founder and CEO of Rental Income Advisors, which educates aspiring investors on acquiring and managing profitable rental properties.