A Quick Guide to Selling Your House to a Cash Buyer
So you’ve finally decided you need to sell your house to a cash buyer, and you’re in search of tips that will help you with the whole process. This is actually the best option you have if you want to make the transaction as efficient as possible.
First and foremost, here are the best things you can expect when you sell your house to a cash buyer:
> It’s faster than selling in the open market or through a realtor.
> The possibility of delay because of mortgage or loan-related issues is practically zero.
> You can just relax and let the buyer take care of the nitty-gritties of your transaction, from taxes to inspections and the rest.
> A close is possible within 48 hours as long as you have agreed on the price and there are no legal obstacles.
> You need not shell out any amount on repairs or renovations, considering investors make “as is” purchases (house will be bought in its current condition).
> You pay no agent commissions, and most, if not all, of the costs of selling your house will be shouldered by the cash buyer.
How to Sell the House to a Cash Buyer
The first step of the process is naturally finding an investor willing to buy your property. Note that there are several out there, companies and individuals, and that they are not all the same. Therefore, be careful with your choice, which means you have to do a little homework. The Internet is a good place to look for investors, but people around you can also provide some referrals if you ask them. Then research the background of each of your prospects, and try to know as much as you can about their industry experience, reputation, and so on.
Once you’ve done your research, you should be able to narrow down your choices to about two or three. Having more than one option is important because it allows you to compare before making your final choice.
Now you can give each investor on your list a call and ask what services they offer. Say, do they offer free valuations? Will they take care of the legal fees?
Once this is out of the way, you can proceed to the valuation process. This is where the investor will tell you the amount for which they are willing to buy your property. Definitely, you need to know your area’s current market trends so you can tell whether or not the offer is fair enough to you as a seller.
Once you have agreed on an amount, you can ask them to give you a timetable as to the process. Finally, assuming this is your first time to sell a house to a cash buyer, you should as well find out what level of support they can provide.