Want to Sell Your House For Cash?

Selling your house for cash may be the solution if you need to sell fast and are looking for your money immediately.  There are many pros and cons of selling your property for cash that you need to consider as a homeowner. If you are in a desperate situation with lots of home equity or you own your house free and clear, and you need to sell within 30 days or less – time is more important than trying to get top dollar for the sale of your home. Selling your house for cash may be worth the risk if you can afford to discount the sale’s price. Listed below are 10 simple steps on how to sell your house for cash quickly and easily.

Step 1: Compare Your Selling Options – if you can afford to test the market for 1-3 months, consider listing your property with a realtor because you can always go the “cash buyer” route later.

Step 2: Find Your Home’s Local Market Value – Many online valuation tools available are not as accurate as a professional appraisal or Realtor’s Comparative Market Analysis Report. Using these two professionals is a great way to learn and understand how much your home is worth.

Step 3: Look For Cash Buyers – There are many ways to make appealing pitches for contacting “cash home buyers”. Here are some ideas that may appeal to you. Fast Home Offer – The big promise is that you get an instant cash offer right away. Fast Home Sales – The big lure is speed. An all-cash buyer can close within 30 days or less. No Repairs or Home Staging – These cash buyers don’t require any repairs or updates to be made. They typically buy properties’ “As-Is” conditions.

Step 4: Verify Proof of Funds for Your Cash Buyer – After you’ve selected a cash buyer, you need to ensure the legitimacy of your cash offer to see if what you have received is fair. You can start by considering the condition of your home compared to similar homes in your local neighborhood.

Step 5: Always Get A Second Opinion – Working with a few local agents who may have cash buyers and investors they have done business with is a great way of getting a second opinion on your cash offer.

Step 6: Accept & Sign Your Cash Offer – If you are satisfied with the conditions and terms of the offer, the buyer will have his/her attorney prepare closing documents with the purchase price, earnest deposit money, and closing date. You need to submit any disclosures that affect either the property value or the ability to inhabit the property safely.

Step 7: Consider Other Time Restraints – Sometimes cash sale transactions have certain procedures or inspections that could delay the process of selling quickly. For example, some title and municipal lien searches can take up to 4-6 weeks. An HOA may take 45-60 days to process the new buyer’s application.

Step 8: Complete a Home Inspection – A home inspection may be required by the buyer. The final offer may change after a home inspection is completed to adjust for additional repairs.

Step 9: Clear, Clean Title Search – Title searches and outstanding liens can significantly delay your closing. A second mortgage, unpaid taxes, alimony, or child support are all common issues that commonly cloud the title search. A preliminary title search can save you a ton of time at closing by identifying these issues prior to the closing date.

Step 10: Review Closing Documents & Procedures – You will execute the closing documents to complete the transaction of the sale. This usually happens at the Escrow Title Company or with a real estate attorney.
Is there a closing cost on a cash sale? As a seller, you may be able to negotiate the closing cost with the cash buyer to help you save money at closing. If you are the buyer then yes, you will be responsible for paying the closing cost.
Is it worth selling my house for cash? You may save a large amount of money on closing costs and realtor commissions, but you risk the potential of getting less for the overall sale of your home.