“We buy houses for cash!” Many homeowners have run across these advertisements and doubted their legitimacy.
But here’s the deal: all-cash home sales currently account for about 20% of residential sales.
So, yes, you can sell your house for cash.
Even so, selling houses for cash isn’t as simple as selecting the highest bidders. Finding cash buyers for your home is difficult in today’s market. Not only that, but the cash-for-home buying process moves swiftly.
But where do you start when you want to make a cash sale on your home? And what should you be on the lookout for during the process?
Here are a couple of our pro tips for homeowners who are looking to part ways with their property:
Find Trustworthy Cash Buyers for Your Home
We’ve discussed methods of finding cash buyers for your house in the past.
And we can’t emphasize this enough:
Cutting a deal with just any buyer who is willing to buy your home is risky. Real estate fraud is more common than some people think. As a result, you should carefully vet buyers before conducting business with them.
Some of our recommended methods are:
- Consulting with a real estate agent who can connect you to potential cash buyers
- Seeking out the local real estate or investment clubs to find leads
- Setting up a website for your home to attract site visitors who are interested in buying houses for cash
If you’re not comfortable with finding leads this way, we recommend finding a reputable company which specializes in purchasing homes for cash.
Once you’ve found a buyer you’d like to move forward with, the process will move quickly. You could be sitting down with an attorney and the buyer to close the sale just a few days later.
Which brings us to our next tip…
Prepare for a Quick Close on the Sale
One of the biggest benefits of selling your house for cash is the speed at which the transaction takes place.
You don’t have to schedule several tours of your home or wait for buyers to put offers on your property. You also don’t have to worry about the financial issues that accompany selling your house the traditional way (e.g. buyers securing bank loans, etc.).
This speed, however, can leave you scrambling to get things done if you’re not prepared for a quick sale.
Under normal circumstances, you’d give yourself two to three months to pack up your home and find a moving company. You won’t have this much time to vacate the property after a cash sale. For this reason, you’ll want to do one of these two things:
- Find a buyer after you’ve made preparations to transport your personal belongings
- Draw up a contract which allows you a reasonable amount of time to get your affairs in order
Taking these precautions will guarantee that you and your belongings don’t end up on the curbside come moving day.
Attempting to Sell Your House for Cash?
If you’re currently attempting to sell your house for cash, here’s our best advice for you: be safe!
Selling houses for cash helps sellers save on realtor commissions and closing costs. But those benefits are negated if you don’t find legitimate buyers.
So if you’re looking for a buyer or are confused about the cash-for-home buying process, don’t hesitate to get in touch with one of our real estate experts. We’ll help you get your house sold and make the process simple and hassle-free.