There are many situations where selling your home for cash can be the best option for your needs. Whether you're going through life changes or want to move quickly, finding a way to sell for cash can make a difference. A quick internet search will turn up companies that will offer cash for your house. However, there are other options out there. Here's what to know about getting a cash-only offer on your home.
You Can Still Use A Real Estate Agent
If you want to sell your home for cash, listing your home with a real estate agent is still an option. While there are companies that offer cash for houses, many individual buyers can pay in cash. Using a real estate agent to list your home helps you keep your options open and allows you to compare offers. If you live in a hot real estate market, you may end up with multiple cash offers to consider.
Ask For Proof Of Funds
Before committing to an offer, ask the buyer for proof of funds. Buying a home is a significant financial transaction, especially if it's an all-cash sale. Whether it's a company or an individual purchasing your home, you will need to get documentation from them that shows they have funds in place. Your real estate agent can help you through this process and will ensure that everything is in order before closing. You will also likely need to do a title search on your property before the sale is final.
Expect A Quick Closing
Another thing to know about selling your house for cash is that the closing process will move quickly. When a mortgage is involved, the closing process takes an average of 54 days. However, it can take as little as ten days to two weeks for a cash buyer to close on a home. If you get an all-cash offer on your home, expect the sale to move quickly. If you're in a hurry to sell your home, this quick turnaround can make a cash offer very appealing.
If you want to sell your home for cash, here's what to know. First, you can still use a real estate agent, and they can even help you find competing cash offers for your home. Second, asking for proof of funds before committing to an offer is essential. Finally, the closing process for an all-cash offer will likely be quicker than that for an offer with a mortgage.