If you’re in a rush to sell your home, the traditional sales process can be frustrating. You have no choice but to wait for sales agents, buyers, finance companies, inspectors, and other third parties. But with a cash sale, you can close within 30 days.
What Delays a Traditional Sale
A typical home sale involves many uncertainties. First, you have to prepare your home by making repairs and cleaning it. That could take several weeks. Then you list it and hope for a buyer to make an offer.
Even after you receive an offer, there’s more waiting to do. The buyers will order a property appraisal and a home inspection. If the inspection reveals some problems, the buyers may ask to renegotiate the price. And, you’ll also have to wait for their financing to get approved. From offer to closing, it can be a couple of months.
Why a Cash Home Sale Is Quick
Cash home buying companies can close quickly because they bypass nearly all the steps of a traditional sale. You don’t have to clean up your home or list it on the market. They make an offer on your home “as-is,” in its current condition.
After you accept the offer, you can often close within a week. The home buying company doesn’t need to get financing and won’t order any inspections or appraisals. As long as your deed is clear, you can sign the paperwork within days, not weeks or months.
How the Process Works
Cash buying companies don’t employ sales agents and don’t offer your home to the general public. They buy your home directly from you and pay cash. As a result, they’re able to make an offer immediately, almost always within 24 hours.
The closing consists of signing over the deed, handing over the keys, filling out a bit of paperwork, and receiving the cash offer. Cash home buying companies don’t need to get financing. And, they don’t charge commissions or closing costs.
Selling to a cash home buying company can be a viable option if you need to close quickly or by a certain deadline. You won’t encounter any unknowns or glitches in the process, as you would with a traditional sale. Within 30 days, you can conclude the sale.
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