Life has a tendency to throw us curveballs every now and then – usually at the most inopportune times. Those curveballs may require that we up-end our lives and make drastic changes like selling our houses and moving to another country within a matter of weeks. Of course, there are countless other reasons where someone would have to sell their homes quickly.
If you find yourself in such a situation, here’s a checklist to follow that’ll help you sell your home quickly and ends with cash in your hand!
1. Request an offer
The typical home sale requires a lot of staging and prepping. All that effort and it could still take some time for people to show interest. However, if you’re selling for cash, you can set a price for your house without doing any work beforehand. A cash buyer understands that they are buying the house in as-is condition and no repairs will be done.
2. Home evaluation
Even if you have an interested buyer who is willing to pay cash for your property, they’re still going to want to look at the home. They’ll come to the home (or they may send a representative) and see just how much they’re willing to pay for your home.
3. Contract review
If the buyer likes what they see and submit an offer, you’ll want to take your time reviewing the terms of the contract and the price before accepting their offer.
4. Proof of funds
Along with the offer, your potential buyer should submit proof of funds too. If they don’t, ask them for the proof of funds document because you want to make sure that they actually have the money to go through with the transaction.
5. Inspections and appraisals may be required
Just because a buyer understands that they’re buying the house in as-is condition, they may still want to have a home inspection and an appraisal done. Of course, this all depends on who is buying the property and how they operate their business.
6. Speedy closings
A normal real estate transaction usually takes 54 days to close on a loan. However, since the buyer has cash on hand and you aren’t waiting on a mortgage company, that timeframe is greatly reduced. A cash sale could be wrapped up in just two weeks!
7. Title search
One of the unavoidable steps of selling a house is completing a title search before the sale can be finalized. The purpose of a title search is to make sure that the property is free and clear to be sold to someone new. The search will reveal if there are any liens or judgments against the property… And if there is, that will keep the sale from moving forward until the problems are resolved.
After the inspections, the negotiations on price (if applicable), the title search have been completed, and contracts are signed, it’s time to get paid! The buyer will wire the money to your account and you can start your new adventure in life.