Are you thinking about selling your home for cash? If you’re in this situation, you’re not alone. More homeowners are choosing cash sales because they’re faster, simpler and a stress free way to sell your house.
If you’ve ever sold to a house buyer Las Vegas, you may already know how the process goes but if you’re new to this, then this article is for you. A breakdown of the process will be explained in subsequent paragraphs below. Read on:
Initial contact and offer
Everything starts when you reach out to a cash buyer or a home buying company. Usually, they ask simple questions about your property like the location, condition and if your home requires any major repairs. After that, they’ll schedule a walkthrough to see the home and an inspection to see the home in person (or sometimes virtually).
Unlike traditional buyers, cash buyers aren’t looking for perfection, they even prefer that your home has a little wear and tear.
Property Walkthrough or Inspection
When cash home buyers schedule a walkthrough or inspection, it’s just a procedure. They just want to get a feel for the property’s condition and size. Some cash buyers will waive a formal inspection altogether especially if they’re experienced investors who buy homes “as-is.” You don’t need to worry about deep cleaning, staging or spending money on repairs before they visit.
Receiving the Cash Offer
After the inspection, the buyer will present you with a cash offer- often within 24 to 48 hours. They make an offer based on the value of your home, the local market trend and how much work (if any) the buyer will need to do after the purchase. And you don’t have any obligation to accept the offer if you’re not satisfied. You’re free to accept the offer or walk away.
Signing the Purchase Agreement
Once you and the buyer agree on terms, you’ll both sign a simple purchase agreement. This is nothing compared to the many documents and paperwork you have to sign in a traditional sale. This contract is usually short and easy to understand. It outlines the sale price, closing date and any details you and the buyer agree upon.
Title Search and Escrow
Before closing, the title company ensures the property is legally clear and there’s no outstanding lien. The cash funds are then placed in an escrow which means a third party is in charge of the money until the sale is closed. This step protects both you and the buyer.
Closing the Sale
Once every box has been ticked, it’s time to close the sale. In most cases, you can close in as little as 7 to 14 days from signing the agreement. You’ll sign a few final documents, hand over the keys and receive your payment- the same day.
Conclusion
If you’re looking for a quick, simple and stress-free way to sell your home, selling for cash might be the best option. Just make sure you work with reputable buyers like us Alex Buys Vegas Houses. We understand the basic steps and make sure the whole process is easy and enjoyable for you.