Want to offload your house ASAP? Sick of pouring money into wallet-draining repairs for that old fixer-upper? Selling your house the usual way can be a massive pain. You must fret about finding an agent, keeping everything clean, and dealing with low-balling buyers. If you’re ready to sell your house quickly, this is not the way to go.
Thankfully, there’s a more appealing choice: selling your house for cash! Below, we’ll explain the process of selling for cash so you know what to expect.
How To Sell Your House for Cash
If you’ve never sold a house for cash, you probably feel lost. That’s normal because it’s slightly different from selling to financed buyers. Here’s how it all works.
Determine Your Home’s Value
Before putting your home on the market, figure out what it’s worth. A real estate agent can give you a better idea of how much you might get. They can analyze the property and look up how much similar homes have sold for nearby.
If you’re okay with doing some research, you can also look up recent house prices yourself.
Find a Cash Buyer
Next, you’ll need to find a potential buyer willing to pay cash for your home. You may think cash home buyers are rare, but that’s not true. They’re out there, and here’s how to find them:
- Realtors: Real estate agents may take a while to hunt down cash buyers. The wait might be worth it if you want top dollar for the home.
- “We Buy Houses” Companies: These real estate investors make all-cash offers and buy homes regardless of condition.
- iBuyers: iBuyers are similar to “We Buy Houses” companies, but some won’t buy homes needing repairs.
Pass a Home Inspection
Most buyers will want to inspect your home before proceeding with the deal. The buyer usually pays for their own inspection, so don’t worry about shelling out money for one.
Evaluate Offers
Don’t think you need to pick one immediately when the offers start rolling in (tempting as this might be). Spend some time carefully going over each offer. The price isn’t the only thing you’ll need to pay attention to. You’ll also want to consider any contingencies with each offer and the proposed closing timeline.
Accept the Cash Offer
Once you’ve picked an offer, you must sign a Purchase and Sale Agreement contract to start the sales process. You’ll also have to ensure the buyer has the cash to buy your house.
Hire Title Companies
You’ll need a clear title to sell your house for cash. A title company facilitates the transfer of money from the buyer to you and handles the closing documents. The title company ensures you have a clear title to transfer to the buyer legally. They’ll also look for potential property liens and issue title insurance.
Sign Closing Documents
Finally, you’ll need to sign lots of paperwork to seal the deal. At the signing appointment, be sure to bring the following:
- Your government-issued ID
- House keys and codes to alarm systems
- The deed (if you’ve paid off the home)
- A cashier’s or certified check if the sale proceeds won’t cover all outstanding costs, such as property taxes or lien payments
Expect to sign these documents at the appointment:
- Bill of sale: Includes items you’ve agreed to leave at the property, such as appliances or furniture
- Final closing instructions: A list of things the title company is responsible for
- Title deed: The document that transfers ownership to the buyer
- HUD-1 statement: Outlines all money involved in the sale, such as the sale price, prorated tax, closing costs, and payoff balances
- Mechanics liens: A document on which you state you have no additional liens on the home
- Certificate title: A document you use to swear you have the right to sell the home
Once you’ve gotten through all that paperwork, congratulations! The sale is officially complete.
Why Sell Your House for Cash?
What makes cash home sales so appealing? Selling your home for cash offers plenty of perks for you and the buyer.
Close Quickly
If you’re in a rush, selling for cash can be a smart choice. Financed sales could take months to close after you find the buyer. You can complete a cash sale in as little as two weeks.
Sell Your Home As-Is
If your home is a money pit with lots of expensive problems, selling for cash allows you to save a fortune on costly repairs. You won’t get top dollar for the property, but the tradeoff could be well worth it.
No Stressful Negotiations
In the traditional sales process, many buyers will try to haggle and convince you to drop the price. With cash sales, the negotiation process is easier and faster for both parties.
Avoid the Hassle of Showings
When you sell your home the usual way, you’ll have to keep it show-worthy at all times to make the best possible impression on potential buyers. That can be a major pain if you’ve got a busy job or messy pets and kids to clean up after. Cash sales are far easier because you can skip the headache of showings and open houses.
Get a Cash Offer for Your Home Today
Looking for a stress-free way to sell your house for cash? Offer4Homes.com buys homes for cash, no matter how many repairs they need! We’ll give you an offer in just 48 hours, and you could close in as little as two weeks. To get started, just complete this online form. If you’d like to learn more about how it works, call (847) 972-0044.
