- Charlene Phung
The Process of Selling to a Cash Buyer
If you’ve never sold your home to a cash buyer, you may be wondering what you should expect. A cash home sale can benefit you in many ways and the process is actually far more simple than a traditional home sale.
Finding a Buyer
To begin with, you need to find yourself a buyer. When it comes to cash buyers, there are several different types of buyers that you can look for. A cash buyer is anyone who can pay the whole amount of the home upfront without requiring a mortgage. An example of a cash buyer would be a house flipper. Often, they will purchase homes as-is for cash and then renovate and resell the house. Even better, you can look for a professional home buying company. These companies also typically look for homes as-is and will buy them for cash, saving you all the hassle.
Preparing for Closing
Once you find a buyer, you have a fairly quick process to go through. Unlike a traditional home sale, you don’t need to wait for the buyer to be approved for a mortgage and you aren’t required to have an inspection or appraisal done unless the buyer requests it. For example, selling to a home buying company only requires a few steps. You’ll start by negotiating a price. Next, you will begin the title transfer process which only takes a couple of days. In most cases, you can prepare for the final closing just a few days after accepting the offer.
Your final step will be actually going through the closing process where you will sign all the closing documents. This is usually finished within just one day. When you go in for the closing process, make sure you have everything you need. This includes proof of identification, keys to the home (including garage door openers and key codes), and any money to cover your share of the closing costs. On the day of closing, you will likely meet at the office of a neutral third party in order to complete all the documents.
Selling to a cash buyer is much easier and faster than a traditional home sale. Without the need for a mortgage, the process becomes more simple and you can sell your home with less stress. It’s worth exploring your options.
Are you looking to sell your home with less hassle? Click here to find a cash buyer.