How To Sell Your House Fast For Cash – 5 Simple Steps

We put together this guide explaining how to sell your house fast for cash. Enjoy!

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Step 1 – Appointment

We set-up an appointment to meet you, your home, and learn what you are wanting to sell it for.

Step 2 Agreement

If we can pay what you are asking, we will sign an agreement together and take it to our Title Company.

Step 3 Clear Title

We wait for our Title Company to give us the thumbs up that the home is ready to be sold.

Step 4Inspection

We will schedule a time to do a thorough inspection of the property with us and our investors.

Step 5 – Closing

2-4 weeks after signing the agreement, we will go to our Title Company to sign all of the legal paperwork and you will receive a check for the proceeds of your home!

Timeframe: Once we get your info, we’ll give you a call and set-up a time to see your house, if applicable. Often we can come out on the same day you contact us, or the next day at the latest. We’ll work around your schedule.

See what we can offer you for your house…

Tell us about your house! ›

 

House we bought in Lubbock in 2019

In case you’re interested in more information about the 5 Simple Steps mentioned above, we put together a guide explaining How to Sell Your House Fast for Cash. Enjoy!

Learn How You Can Sell Your House Fast for Cash

Do you have a house and you need to sell quickly? Would you like fast cash for the home? Selling your home can be a complicated process. When time is limited to achieve this goal, one option to consider is selling the house for cash. The home may need extensive repairs before it can be transferred to a new owner, it may be an inheritance in another city or state, or it might be the home needs to be sold quickly due to a divorce or another change in circumstances. Countless individuals sell homes using this method and sell fast for cash in hand. Regardless of why the owner wishes to sell a home in the shortest time possible, Gem Homes can help. We buy your house fast for cash and make the process easy so you can move forward with life with the funds in hand to do so easily. Why deal with the conventional method of selling real estate when the process can be quick and easy? We make this possible.

Why Sell a Home for Cash?

Many people look at the speed in which a home sale can be completed when considering the advantages of using this method to sell a property. Furthermore, numerous talk about the convenience of going this route when selling a property fast. However, there are several other benefits associated with this option that are often overlooked, and the following are a few of these benefits.

The sale is less likely to fall through when it is a cash transaction.[1] Buyers may look at a home, fall in love, and put in an offer. It isn’t until the lender turns down their financing request that they learn they cannot obtain the home they dreamed of owning. This leaves the seller back at the beginning of the process in many cases. New buyers must be located, and this involves showing the house once again and going through the entire process anew. Avoid this problem by selling the home for cash. The process is simplified and the sale goes through in a much shorter period of time. The owner has the cash in hand while the buyer has the new residence they desire.

No repairs need to be done to the home when a cash sale is completed.[2] The buyer agrees to buy the home as-is and complete any necessary work to get it in selling condition. The home is accepted with any and all problems when a cash sale is involved, and many buyers find this is to their benefit.

There is no need for an appraisal when a home is sold for cash. As the property is sold as-is, the buyer is accepting any responsibility for defects found after the sale is complete. A lender is not involved and is therefore not concerned about potential problems the home could have. This allows the home to be transferred to a new owner in a shorter period of time.

The seller keeps all of the money from the sale. There are no realtor fees or commissions that must be paid with a cash sale. The same is true of closing costs. They are eliminated with a cash sale, which many sellers are certain to appreciate.

The Sales Process is Simplified

The first step involves contacting Gem Homes.  We then set up an appointment to meet the homeowner, see the residence and learn more about what the owner wishes to get for the residence. This is always the first step when we buy houses fast for cash.

If the owner agrees to the purchase price, signing the contract is the next step in the purchase process. This document is referred to as a Purchase Agreement. Once signed, buyers and sellers refer to the home as ‘under contract’ and the residence is no longer considered for sale.

The title company comes in at this stage of the process to make certain the title is clear and the home is ready to be sold. For example, the title company ensures the seller legally owns the property and that the buyer won’t be expected to pay property liens he or she is not aware of when completing the transaction.

Once the title company gives the all clear when it comes to the residence, an inspection is scheduled. This provides the cash buyer with a better opportunity to examine the home. Companies that purchase homes for cash may bring investors along so they can see the property as well.

Going to Closing

The final step in the process of selling a home for cash is to review and sign the necessary closing documents. These documents outline exactly what is expected of the escrow company and the process this company will follow as the closing is finalized. Be sure to review any amounts on this document to make certain they are correct.

The HUD-1 settlement statement is a document required under current federal law when selling any home. It lists all the money that is involved in the transaction, including the sales price and the various closing costs involved. This document is needed when the seller and buyer go to file their taxes, and the closing agent should review it carefully for errors before it is signed.

The certificate of title is a document signed by the seller swearing he or she has the right to sell the property. The title deed, in contrast, is a document that transfers ownership from the seller to the buyer. This document is signed at the closing, but the official real estate transaction will not be formally closed until the document is recorded at the county courthouse. This is true with any real estate transaction, not only those involving selling houses for cash.

A loan payoff statement is also required at this time for those who have a mortgage on the residence they are selling. The document details how much is owed on the mortgage on the day of closing and should be the same figure the escrow company will pay off on the seller’s behalf. This document also includes information on mechanics liens put on the property by contractors or laborers.

The bill of sale outlines any conditions of the sale, such as furnishings that are included as part of the purchase price. The final two documents are the statement of closing costs, which simply states the buyer and seller were informed of all fees prior to closing, and the statement of information, a document swearing each party involved in the transaction is who they state they are.[3] All companies buying houses for cash will require these documents.

Another house we bought in Lubbock in 2019

Choosing a Home Buying Company

With many companies now offering to buy homes for cash, how can a seller know which one to work with? This is a question many property owners have and the answer lies in research. Learn more about each company under consideration to be certain the right one is selected.

What is the company’s rating with the Better Business Bureau? For more than a century now, the BBB has been helping people make smarter decisions when it comes to which businesses they work with and which they avoid. This organization not only sets the standards for ethical and honest behavior when it comes to businesses but upholds these standards as well while monitoring compliance. Only those companies that comply with the organization’s Business Practices’ BBC Code obtain a rating of A. This code is founded on eight values of trust epitomizing honesty, integrity, and the honoring of promises.[4]

How familiar is the company with the local market? Many companies that purchase homes for cash operate on a nationwide basis. They aren’t familiar with the local market and may not provide a fair quote for the home as a result. What is considered acceptable in Connecticut, for example, might be a lowball offer for California. Try to find a company with a local presence, one that understands the charm of the area and what makes it truly attractive to potential buyers. This can help to increase the amount of the offer. Companies in this field often have franchises, and the franchise owner is the one who would need this local experience.

What conditions are being placed on the sale? The reason many sellers choose a cash sale for their property is they want to walk away completely clear in the shortest time possible. Be certain the company does not place a number of conditions on the sale to ensure this is the case. When a property is sold as-is, it should be exactly that, a sale that is completed with no strings attached. If the company or investor is not willing to agree to this, it’s better to walk away and look for another buyer. Just because a person wishes to sell fast for cash doesn’t mean he or she should take a lowball offer or jump through hoops to please the buyer.

What experience does the company have? Some cash sales may occur between two private individuals-one looking to sell a home as-is and a buyer who wants a fixer-upper they can make their own. However, these sales have become less common over the years. Now many people want to walk in the door and have their dream home immediately. The buyer may even require the seller to make certain upgrades before the sale will go through. If a “We Buy Ugly Homes” company is the purchaser, learn what experience they have to ensure the transaction runs smoothly from start to finish. Nobody wants mistakes when they are trying to sell a property and move forward with life.

People often assume only those with ugly houses or ones in significant disrepair take advantage of a cash sale. Nothing is further from the truth. Sellers are often willing to take a cash offer off-market to avoid paying real estate commissions and because the buyer will take the home in as-is condition. Consider this when the time comes to sell your home. You may find you can get quick cash and sell your house quickly by going this route and reap the benefits of doing so. Contact us today to learn more about how and why we buy your house quickly so it is no longer your concern.

Countless individuals find working with a company that buys houses fast for cash benefits them greatly. There are no real estate brokers to deal with, no unexpected fees at any time, and no loan agents to deal with. This is one option every seller should look into when the time comes to sell a property. We make it easy for all involved to obtain the desired result with little hassle.

[1] https://www.bankrate.com/real-estate/selling-your-home-for-cash/

[2] http://classifieds.usatoday.com/blog/realestate/benefits-selling-cash-home-buyer/

[3] https://www.zillow.com/sellers-guide/home-selling-process-for-all-cash-deal/

[4] https://mybeautifuladventures.com/2018/10/22/4-must-ask-questions-while-choosing-cash-home-buying-companies/