When you need to move quickly, you may not have the several months it can take to get a home prepared for the market. Normally, when you work with a realtor to sell your home, you have to take several steps to make the property look as valuable as possible, have the home appraised, and possibly even wait for repairs.
Selling homes for cash is a much shorter process and does not involve a real estate company at all. If you are looking at your options for selling your home quickly, working with cash-offer companies can be desirable, but how does the process work? Take a look at what to expect during each step in the process.
The Initial Consultation
When you reach out to a cash offer buying agent, you will briefly discuss your home, some of its features, and a few other factors about what to expect. The consultant may even give you a rough estimate regarding how much similar homes in your area have sold for in the past. You will be given the opportunity to ask questions, and then a property evaluation will likely be scheduled.
The Home Evaluation Process
The company will send a property evaluation expert to your home to look at the property. This evaluation is not the same thing as a home inspection; the process is much more surface-level and will not involve extensive investigation to assess all features and attributes. The main thing the evaluation expert will be looking at will be:
The Cash Offer
Once the property evaluation is complete, you can expect to get a cash offer for your property within as little as a few days or less. Depending on what company you are working with, this cash offer may be final or slightly negotiable. For example, if you are offered $100,000 for your home in cash, you may be able to not accept the offer and provide a counteroffer.
The Final Steps
Once you and the buyer have settled on a specific buying price, the company will issue you a check for the agreed-upon price. You will have some paperwork to fill out in order to transfer ownership to the buyer. In most cases, you will be given a set time frame to vacate the house so the buyer can take possession.
For more information about selling homes for cash, reach out to a local service.
Share6 March 2023
Once I paid of the mortgage on my house, I decided I wanted to buy an investment property. I had no idea that the buying process would be different, but it really was. There were so many things to consider that I hadn't thought about, and even the loan application process was different. It occurred to me that if I didn't know about it, others likely didn't either. I built this site to help others see what I went through buying my first investment home. I hope that it helps you to approach the process with more confidence and understanding.
