Selling a home the traditional way can be a long, draining process. From the moment you decide to sell, it could take several months before you can close. With a cash sale, however, you can almost certainly close within 30 days.
How to Find a Cash Buyer
The term “cash buyer” can refer to any individual, group, or business that will pay the full amount of the sales price in cash, without having to secure financing. It’s possible that if you list your house on the market, a cash buyer may come along, but it’s not very likely. Most prospective home buyers make a down payment and then get a mortgage.
People wishing to sell their homes for cash usually look for cash home buying companies. These businesses are property investors that purchase homes for cash with the purpose of reselling them. Cash home buying companies operate locally, so you’ll have to find one in your area.
How to Get a Cash Offer
After locating a cash home buying company, the process is fairly simple. You just contact them, either online or by phone, and let them know basic information about your house. Most companies will send a representative to your home to speak with you.
Then, within 24 hours or so, the company will make you a cash offer on your home in writing. There’s no obligation at this point, and you can think about it before accepting the offer. If you decide to accept, you can set a closing date immediately.
What Happens at Closing
Since the cash buying company doesn’t need to deal with a mortgage lender, the closing date can be set as quickly as you’d like. You just need a clear title on your end, or you’ll need to make arrangements with your lender to pay off what you still owe.
The home buying company will arrange the paperwork. You just have to show up and sign. You’ll pay no commission or closing costs.
A cash home sale can close much more quickly than a traditional home sale because it’s a straightforward transaction between you and the cash buyer. If you need to sell quickly, it’s could be worth it to look into dealing with a cash home buying company.
Do you need to sell your Sacramento area home quickly? Click here for information about the cash sale process.