If you are interested in selling your home for cash rather than selling via the traditional method, you are probably wondering how much faster a cash sale is versus a traditional home sale. In most cases, a cash sale is exponentially faster than a traditional sale. Here is a breakdown of the steps to selling a home for cash and how long you can expect each step to take.
Contacting a Buyer
When selling a home for cash, your first step is to find an interested buyer (duh). But if you are trying to find a cash buyer via a multiple listing service, you are probably going to have a hard time. For this reason, most sellers who want to sell for cash will contact a private investor or home buying company. Since private investors and home buying companies don’t have to get a mortgage to finance the home, they will be able to buy your home quickly for cash. Therefore this step of the process is usually really fast since it just entails finding the right buyer for you.
Negotiating a Price
If you are working with a home buying company, for example, you won’t actually have to worry much about negotiating a price. The home buying company will send a representative to your home to assess its market value and condition. Then, they will offer you a deal that you can either reject or accept. It usually takes no longer than a day or two for the home buying company to present you with a deal.
Closing the Deal
Once you have accepted the deal, it can take as little as seven days to finalize the process. In most cases, your buyer will be doing most of the work. All you’ll have to worry about is being there to sign paperwork at the very end. Once you are ready to close the deal, expect to be finalizing all the documentation and signing paperwork for no more than a couple of hours. By the end of the day, you should be able to walk away with your cash.
In summary, if you are planning to sell your home for cash, expect the process to go by fast. In most cases, you will be able to free yourself from your unwanted property in no longer than a month. Keep in mind that the traditional method of selling a home takes months—if not years. So, yeah—when they say sell fast for cash, they mean fast.
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