There are plenty of options available when it comes to selling your home. A cash sale is an excellent option for someone trying to sell quickly. Of course, you want to make sure you understand the process well before you get started.
Who’s Involved?
First, you should know who is actually involved in the sale. A traditional sale would include you, the buyer, and each of your real estate agents. You may also work with a mortgage broker or lender, inspectors, and many other professionals that assist in home sales. A cash sale is far more simple. The two main players are you and the buyer. Cash sales don’t typically involve real estate agents which leaves you and the buyer to work everything out yourselves. This provides you with more control over the situation and it saves you from having to pay real estate agent commissions during closing. Of course, a cash sale will involve a few others including the title company and the escrow company.
What’s the Process?
Once you find a buyer, your first step will be negotiating a price and this will typically be completed on the first day. Next, you will need to verify that your buyer has the funds for the sale and you’ll do this by requesting bank statements. From here, you will hire the title and escrow companies to help facilitate the sale and make sure everything can move forward. Most cash sales won’t involve an appraisal or inspection, but you can still have these done if the buyer requests it. Lastly, you will come to closing day. At this time, you and the buyer will sign all the official paperwork, the money and title will be transferred, and your house is officially sold.
What Are the Benefits?
The biggest benefit of a cash sale is the speed. Cash buyers don’t need mortgage loans because they have all the money upfront. This means you can get started on the sale process right away without waiting for a mortgage loan approval. The lack of a mortgage also removes some steps from the process which speeds things along. Cash sales also require less work on your part. Many cash buyers will purchase homes as is, which means you don’t need to do any renovations before selling. Lastly, you can save money on your closing costs. In addition to not paying any real estate agent commissions, you may also find cash buyers who pay a portion or all of your closing costs.
A cash sale can make selling your home much easier for you. There’s less you need to do and if you find the right buyer, the sale won’t be stressful at all. Selling to a home buying company is your best option.
Go to House Buyer is a home buying company that offers a simple process. Click here to learn more and get a cash offer in just 24 hours.