How Does a Cash Home Sale Work?

If you’re not familiar with the cash home buying business, you may have many questions about how the sales process works. It’s really rather simple: you contact the company, they make a cash offer on your home,  you set a closing date, and you receive your money. Let’s look at those steps in more detail.

The Preparation

First, when selling your home for cash, you don’t need to do anything to prepare your home. You don’t have to clean, declutter, or stage your home because there won’t be any photographs taken or public showings. You don’t even have to make repairs.

Cash home buying companies are property investors and purchase homes in their present condition. They don’t require you to fix up your home or make costly repairs. This saves you money, time, and effort. 

The Offer

The offer on your home will be based on a number of factors, such as the size of your house, number of bedrooms and bathrooms, and general condition. The home buying company will also consider your neighborhood and the local market in your area. All of these factors influence the resale value of your home.

If you’re curious, but you haven’t decided whether you want to sell to cash buying company, go ahead and contact them. The offer carries no obligation. You can find out how much they will pay for your house and weigh your options.

The Closing

If you decide to accept the offer, you’ll be invited to set a closing date that works for you. In many instances, you can close within a week. If you still owe money on your house, you’ll have to contact your lender to make arrangements to pay off your loan.

The closing works the same way it does in a traditional sale: you sign the papers and turn over the keys. You won’t pay any commission or closing costs. The amount of money you were offered for your home will be the amount you will receive.

When you contact the cash home buying company, feel free to ask the home buyer any and all questions you might have. Most companies will send a representative to your home to discuss your options. Selling to a cash home buyer should be a transparent process.

Thinking about selling your Utah home for cash? Click here to see how the cash sale process works.

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