Sell My House for Cash: What It Really Means

Cash home sales have grown in popularity with sellers and buyers over the last few years. However, even with the steady rise of cash sales, there are still a lot of misconceptions and myths surrounding selling a home as-is.

As experienced home buyers in Detroit, Michigan, we have worked with dozens of home sellers throughout the area – particularly sellers in financial or legal hardship. As such, we have the experience and knowledge necessary to do three things:

  1. Guide sellers through the home-selling process
  2. Answer frequently asked questions about cash home sales
  3. Address common home seller concerns with transparency and honesty

We are also in a position to explain the cash home sale process and dispel common myths about the sell-my-house-for-cash alternative to a traditional home sale. Below is Cash Home Sale 101. If you have any further questions, feel free to call us. We’re here to help you sell your house fast in Detroit, Michigan.

What Is a Cash Home Sale?

A cash home sale is a private real estate transaction between a motivated home seller and a company that buys houses in Michigan. The buyer assesses the property and makes a cash offer to buy the house as-is based on its current market value. If the seller accepts the offer, they negotiate the terms of the sale and close the sale directly with the buyer.

Since a cash home sale is a private transaction, the seller does not have to hire a real estate agent or list the house on the market. Since the buyer agrees to purchase the property as-is, the seller does not have to make any repairs or upgrades to the house. In most cases, they do not have to schedule an inspection or appraisal.

How Is a Cash Home Sale Different Than a Traditional Home Sale?

One of the best ways to understand a cash home sale is to compare it to a traditional home sale.

Traditional Home Sale

In a traditional home sale, you prepare your home for sale. You hire a real estate agent and list the house on the market. You may also stage your house so that you can show it to multiple prospective buyers. If you find a buyer, your real estate agent negotiates the deal, and you close the sale.

Cash Home Sale

In a cash home sale, you meet with the buyer to discuss your property. The buyer may also ask to see the property. The buyer will appraise the property’s value and assess its condition. If they like what they see, they make a cash offer to buy the house as-is. If you accept the offer, you negotiate the terms of the sale and close the deal together.

Here’s a side-by-side comparison of a traditional home sale, a For Sale by Owner, and cash home sale.

Realtor For Sale by Owner M1 Home Buyers
Commissions Fees 6 percent Zero Zero
Closing Costs Pay up to 100% Pay up to 100% We Pay 100%
Appraisal Required Yes Yes No
Open House/Showings Yes Yes No
Repairs/Renovations Yes Yes No
Average Selling Time 60 to 90 days 6 to 12 months 7 to 21 days

Why Choose a Cash Home Sale Over a Traditional Home Sale?

A traditional home sale is still the most popular way to sell a house in Michigan. However, it may not work for you, depending on your situation. Here are some benefits to a cash home sale over a traditional home sale.

1. Little to No Selling Costs

The three most common selling expenses are home repairs, closing costs, and realtor commissions. Combined, all three can eat into your profits by thousands of dollars. When you sell your house for cash to a house-buying company, you incur little to no selling costs.

2. Sell Your House During Personal Hardship

If you are going through a financial or legal hardship, you can sell your house fast to get rid of the property or get out of your mortgage. A cash home buyer can help you overcome hurdles such as bankruptcy, foreclosure, divorce, probate, or a sudden relocation.

3. Close a Home Sale Faster

If you need to sell your house fast in Detroit, Michigan, you don’t have time to go through a long selling process. The average cash home sale – at least with our company – takes seven to 21 days to complete. You can get a cash offer, close the sale, and get cash in your hand within one to three weeks.

Sell My House for Cash in Detroit, Michigan

If you need to sell your house fast, but can’t find a buyer or want to skip the traditional route, we can buy your house. At M1 Home Buyers, we buy houses as-is for cash. Call 248-397-5800 to get a fast cash offer on your house.

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

Get Your Fair & Honest All-Cash Offer Today! No Obligations!

  • Sell your house as-is – no repairs or upgrades
  • Pay no closing costs or realtor commissions
  • Close in as little as seven to 21 days
  • By submitting this form, you agree to our Conditions of Use and Privacy Policy. You may receive both automated and personal text messages. Reply STOP at anytime to opt-out.

  • This field is for validation purposes and should be left unchanged.