If you have decided that you want to sell your home and want the process to be quick, you can work with a buy houses for cash business. These businesses are often investment groups or builders who buy homes for cash, fix them up, and either flip them on the market or rent them out. Buying a home for cash is a quick process.
Reach Out to the Company
First, you are going to need to reach out to the company. They may ask for basic details about the house, such as the size of the home, how many rooms, and other details. Then, if they are interested in the home, they will send someone out to look at the house in person.
Getting an Offer
After looking at your home, usually within a day or so, they will make an offer on your home. The first step in officially selling your home is accepting the buyer's offer and signing the documentation, known as the Purchase and Sale agreement.
Once you sign the agreement, you will want to verify that they have the funds to close the deal. You can do this by asking for them to put some money into escrow. For example, it is common to ask for a small percentage of the final purchase price, such as one to two percent, to be put into an escrow account. This will allow you to ensure that they have the money to pay you.
Hire Title Company
Next, you are going to need to hire a title company. They will ensure that the property lines are properly drawn and that there are no issues with the property. If there are any property liens, you are going to have to deal with them right away. Some companies will pay the lien and subtract that from the money they owe you; other companies will require you to clean the lien before selling you the home.
Even if you are selling the home as-is, it is common for the cash buyer to get a home inspection still. They may use the home inspection to negotiate the price further with you. Other companies will use the home inspection to learn more about the property. After this, you should be ready for the closing process.
You will then attend the closing for the home. You are going to have to review and sign a lot of different paperwork. You are also going to have to go over the final closing instructions. You will need to fill out a HUD-1 statement, which includes all the deal's financial details. You will have to sign a certificate of title and the title deed. You will sign a document that states that there aren't any other liens on the property, and finally, a bill of sale. You will also sign a closing cost statement, which with cash buy-out, shouldn't be any. Finally, you will sign a statement of information that basically says that you are who you say you are.
When it comes to selling a home for cash, you will go through a lot of the same processes as you would if you sold your home during a traditional sale; everything will just move a lot faster. The process may only take a week or two instead of a couple of months. This is a good option if you need to move quickly or just need to get out of your home fast for any reason. Contact a buy homes for cash service to learn more.Share