The process of selling a house is complex, no matter how much time you’ve spent in the market. The traditional sale involves an entire cast of players, from real estate agents and escrow companies to prospective buyers.
However, if you pursue a less common approach and work with a real estate investor, you can get rid of a lot of paperwork, deal with fewer parties, and walk away with a cash sale in much less time than it’d take to sell with a real estate agent. Keep reading to learn what it’s like to partner with a cash buyer and how you can simplify the process.
What Is a Cash-Only Home Sale?
Cash buyers purchase homes directly from the property owner without financing. The process is simple: you contact the home buyer, they gather information on you and your home and schedule a home visit, after which they make a cash offer and draw up all the necessary paperwork. Home buyers transfer funds directly to you either through a check or electronically.
Accepting a cash offer on your property removes a lot of the fluff involved with a traditional sale. You only work with the real estate investor and don’t need to make arrangements with banks or other third parties. If you’re in a complicated financial situation and need to sell your house fast, closing on a house with cash is a fast and safe alternative if you work with a trustworthy buyer.
How Quickly Can You Close on a House With Cash?
Everyone has a reason for selling a house. Whether you’re in a tricky financial situation or just want to move out in a hurry, selling your home for cash can be an ideal solution. The cash offer process is often straightforward. If you’re unclear on how cash buyer and traditional sale timelines differ, here’s an illustration of both:
Closing on a House With a Traditional Sale
A traditional financed sale can take anywhere from 30 to 60 days, depending on your agreement with the buyer. This time frame includes the work you must do to prepare your home for showings, open houses, and appraisals. Before you entertain offers, you need to stage and photograph your property and perform any necessary repairs and maintenance.
If your property is in tip-top shape and market-ready before you even realize you want to sell, then your experience with a traditional sale may be pleasant. However, if you have a home with outdated decor or faulty applications, you must be prepared to put in the work and deal with an inflated timeline.
Closing the Deal With a Cash Offer
The process of selling a house for cash is much shorter than a traditional sale because you don’t need to negotiate with many people outside of the individual buyer or real estate investor purchasing your home. Most cash offer sales close in as short as two weeks if you work with a buyer with a refined process and the experience to navigate roadblocks.
Two to three weeks is enough time to visit your property, extend a cash offer, and sign the needed paperwork. An experienced home buyer understands that time is of the essence and does everything they can to move the deal along efficiently and ensure your comfort throughout the process. If you ever feel in the dark or have second thoughts about the sale, they should be ready to accommodate your needs and guide you however you need.
What Happens When You Sell a House for Cash
The process of selling a house for cash differs, especially when dealing with a company that buys homes. You should take a few common steps to ensure that the transaction is safe and secure.
Vet Your Cash Buyer and Verify Funds
Accepting a cash offer is convenient, but you should be careful to choose a home buyer who has your best interest in mind. It’s vital to verify that the individual buyer or real estate investor has the funds to purchase your home for the agreed amount.
Ask for earnest money, which is typically 1% or 2% of the sales price, and request bank statements and other relevant documentation. If you need help navigating this process, you can hire a real estate agent to walk you through it.
Work With a Title Company
Title companies ensure there are no outstanding property liens and that ownership is transferred by the closing date. Some title companies can also oversee closing documents and ensure you receive the sale price. If you have a property lien on your house, it means there’s an unsettled debt you need to address before you can sell your house legally. Before pursuing a cash offer, evaluate your records and make sure you have no taxes, child support, or other notable payments overdue.
Arrange a Home Inspection
For home buyers who don’t purchase property as-is, you may need to schedule a home inspection before accepting a cash offer. An inspection contingency entails that the individual buyer or real estate investor will pay for the service but can adjust the price and request repairs based on findings. Inspections can slow the process of selling a house for cash, but not by so much that a traditional sale becomes the quicker option.
Sell Your House Fast for Cash With Trinity Home Buyers
Finding a reliable cash buyer in St. Louis, MO, can feel challenging, especially if you’re new to the real estate market. Trinity Home Buyers is an experienced real estate investor company that’s interested in buying houses of all shapes and sizes. We help people throughout the St. Louis area navigate the home sale process and avoid the setbacks and frustrations many sellers face.
To make the process of selling a house for cash as simple as possible, we buy houses as-is and cover most of your closing costs. We never require you to make repairs or perform maintenance. We love a fixer-upper because it allows us to make the property even more beautiful than it was before.
Are you ready to sell your home to a responsive and professional real estate investor? Reach out today.
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