For many people, selling their home can be a months-long process. There’s a lot of prep work involved and the sale process is drawn out. Cash sales however are much faster and make the entire sale much easier.
Traditional Sale
During traditional sales, the process begins with getting your house ready to sell. Most buyers are looking for updated homes. To attract these buyers, you need to renovate and make repairs throughout. Once you list your home, you need to market it to attract buyers. This includes taking professional photos, staging your home, hosting open houses, and allowing home viewing. After you do find a buyer, you need to wait until they are approved for their mortgage. This can take weeks to months and it puts the entire process on pause.
Cash Sale
Cash sales are more streamlined than traditional sales. The first major difference is in how the sale is financed. Cash buyers have all the money upfront and don’t require a mortgage to back them. This alone vastly shortens the sale. You and your buyer can begin the process immediately. Additionally, many cash buyers will purchase homes as is. This means you don’t need to delay your sale to make repairs or renovations. You can find a cash buyer right away and begin the sale.
Average Timeline
On day one, you and your buyer will negotiate on a price and begin a contract together. Within a day, you will verify that your buyer has the funds for the sale via bank statements. For your sale, you need to hire both a title company and an escrow company. The title company will search the title of your home to make sure nothing is standing in the way of the sale. This process typically takes three days. If your buyer requests an appraisal or inspection, it will take roughly a week to schedule and then a few hours to complete. Lastly, you’ll reach closing day. Up until this day, the escrow company will collect documents and facilitate the sale. On closing day, they will oversee all the signing of the final documents. Closing takes several hours to complete.
If you want an easier home sale, then selling to a cash buyer is your best option. You can sell your home in 30 days or less. There’s no reason you should spend several months selling your home.
Simple Cash Offers is a home buying company that provides you with a no-obligation cash offer in just 24 hours. Click here to learn more and receive your offer.