What Is the Closing Process when selling to a cash home buyer?
The closing process is faster when you are selling a home to a buyer for cash instead of having to wait for financing to go through. Selling your home for cash is ideal when you can get your asking price for the house without the need to deal with hurdles that get in the way for some buyers. It is possible to close on a house that you are selling for cash within a week or two, and this will make it easier for you to move forward with your life if you are leaving a difficult situation.
Once you have a cash offer for your home, you will want to have a contract signed and reviewed by an attorney. This contract will outline the purchase price, deposit amount, any fees that are established, and the closing date of the sale. The buyer may purchase the home in any condition, or want to have a full inspection done that the home must pass. If there are problems with the property, this can lead to the buyer renegotiating the price of your home.
The home will need to have a clear title, and any liens on the property handled for the sale to go through effectively. You will work with a title company or real estate attorney to complete the closing paperwork, and everything will be signed and final once money is transferred.
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