If you are reading this, you may have already gone through the initial steps of selling your home to a cash buyer. Perhaps you are now wondering what you can expect from the closing process and how long it is going to take. Well, rest assured that the closing process of a cash sale involves much less hassle than a traditional sale. Here is what you can expect of the process.
Depending on the type of cash buyer you are working with, you may or may not have to worry about paying for closing costs. And even if you are expected to fork in some extra cash to pay for closing costs, the costs are exponentially fewer compared to a traditional sale. This is because, in a traditional sale, there is often the need to pay commissions, fees to a title and/or escrow company, and costs associated with working with a lender. In a cash sale, the seller rarely has to worry about any of these costs—in fact, the seller may not have to pay any closing costs at all!
You may have been able to avoid paying closing costs, but there is no avoiding all the paperwork—even in a cash deal. Fortunately, however, this part of the process is usually easier than a traditional home sale. Certain documents that you may need to review and sign could include the title deed, a certificate of title, and a statement of information. Be prepared to sit there with your cash buyer for no more than an hour or two during this part of the process.
This is the fastest part of the cash deal—and good thing, too! Once all the paperwork has been dealt with and the closing costs have been paid, it is now time for you to get your cash. In most cases, your home buyer will just wire you money to your bank account. Nevertheless, some cash buyers may also give you a cashier’s check. Either way, you should have your money in a couple of minutes tops.
As previously mentioned, the closing process will look different depending on the type of cash buyer you are working with. For example, working with a home buying company is usually a lot faster than working with a private investor or creative buyer because they tend to take care of all the hassle for you. Therefore, before closing on a deal, make sure that you communicate with your cash buyer so that you can both be on the same page concerning the closing process.
Ready for a hassle-free home-selling process? Click here to contact The Easy Home Buyer so that you can start the cash selling process today!