Advantages and Process of Selling Your House to a Cash Investor
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 of all, know the key advantages you can get from selling your house for cash:
> It’s faster than selling through an agent or in the open market.
> Chances of delays due to loan or mortgage issues are negligible.
> You can just sit back and let the buyer handle almost everything, if not everything, required in a real estate sale transaction, such as inspections, taxes, etc.
> 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.
Steps to Selling Your House to a Cash Buyer
The first step is of course finding an investor that will buy your house. Remember that there will be a lot of them out there, individuals and companies alike, and that they will not be all the same. Therefore, be careful with your choice, which means you have to do a little homework. You can look for investors on the Internet or ask for referrals from people you know. Then research the background of each prospect you have, focusing on their background in the business, their reputation, etc.
You should be able to narrow down your list to two or three after your research. 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. For example, do they offer free valuations? Are they going to cover 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.
As soon as you have agreed on a price, you can ask them how long the process will likely take. 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.