Selling your home to a cash buyer provides you with a more convenient experience when selling. It’s faster, cheaper, and requires less work on your end. If you’ve never sold to a cash buyer, you should take some time to understand the process.
Cash sales are known to be faster than traditional homes. Just how fast can they be? Since your buyer doesn’t need to get approved for a mortgage loan, you cut off a significant chunk of time. Once your buyer makes an offer and you accept, you can begin the process right away. Typically, you will accept the offer and verify your buyer has the funds in the first 1-2 days. Next, you’ll hire title and escrow companies. The title company will perform a title search which takes about three days. If your buyer requests it, you can have an inspection done. This takes about a week to schedule and then a few hours to complete. Lastly, you’ll come to closing day which will take a few hours as well. Overall, you could close in as little as two weeks but most sales take 30 or fewer days.
One major roadblock you can encounter is if issues are found during the title search. Examples include having outstanding liens or taxes on the home or even an additional heir to the property. These issues can interfere with your buyer having full ownership of the property and they need to be resolved. Your sale can also be slowed by third-party delays that you have no control over.
Benefits of Selling to a Home Buying Company
Amongst cash buyers, home buying companies are perhaps the most beneficial. With a home buying company, you can contact them directly and get a cash offer in just 24 hours. Additionally, they will work to make sure your needs are met. They buy homes in disrepair, homes facing foreclosure, homes in probate, and more. In general, they’ll buy properties that don’t sell easily. This removes a lot of the stress from selling. A home buying company will work on your timeline and many of them will also pay all of the closing costs for you.
Closing on a cash sale is a fairly straightforward process. Choosing this type of sale can land you with a much better experience and you can quickly move on to your next home. For further convenience, consider selling to a home buying company.
Simple Cash Offers can help you sell your home quickly. Click here to learn more about the process.