Most home buyers you come across need assistance from a lender in order to afford a home. It’s far less common for someone to be able to purchase a home with funds of their own. Still, it does happen, and where the money comes from does have an impact on the process of selling your house. So how does selling to a cash buyer work?
Find a Buyer
The first thing you’ll need to do, regardless of who you sell your house to, is to find a buyer. If you’re looking for a cash buyer to purchase your home, that could prove a little more tricky than just finding a buyer in general. They just aren’t as common. Still, if what you need is to find a cash buyer quickly, you don’t have to wait for a buyer to come to you. You can always contact a professional home buying company, like Beyond Home Offers.
Work Out the Offer
Once you have an interested buyer, the next thing to do is to work out the cash offer. At this point, you’ll need to negotiate things like whether or not any repairs will need to be made, what (if any) appliances will be included in the sale, and what an acceptable offer for both the seller and the buyer looks like. The value of an offer is based on things like the home’s location, condition, and value. Depending on the cash buyer, they may ask for inspections and appraisals to be done. Beyond Home Offers only needs to see the house one time before extending an offer, usually within 24 hours.
Closing the deal on your home is where the differences of selling to a cash buyer really become apparent. Typically, cash buyers are able to close much faster compared to traditional buyers. Buyers who borrow money to finance a new home need to be approved by a lender, and your home will need to be appraised by them too. That can add weeks to the closing process. With a cash buyer, there is no need for a third party’s approval at any stage, saving you the stress and time of waiting.
The basic steps of selling your house to a cash buyer aren’t all that different from a traditional sale. Still, these differences can have a huge impact on who the best buyer is for your house. Think about what your needs and priorities are regarding the sale of your home so you can choose the best selling process for you.
Beyond Home Offers strives to make the selling process as quick, easy, and painless for homeowners as possible. Click here to learn how selling your home to us differs from selling your home with a local real estate agent!