Thinking of Selling to a Cash Buyer?
If you are like countless other homeowners today considering selling your house to a cash home buyer, in this post we’ll cover some great tips for the kinds of questions you should ask, before agreeing or signing any purchase contract. In addition, we’ll talk a little about if you’re selling traditionally, whether FSBO (for sale by owner) or with an agent, what questions to ask if a real estate investor makes a cash offer. By the end of the article, you’ll feel confident knowing the things you need to make a cash deal successfully, and where you can find a fantastic company right here, at Sell Your House Fast – Kansas City!
Pricing the Home
In order to determine the best price for your property, compare with similar homes in your neighborhood and what they have recently sold for. Additionally, check market conditions to see if it’s a buyer’s market, in which case you would want to price more competitively. When selling to a cash buyer, expect them to pay at least 10% less than market value. Sometimes, a company may try to take advantage by underpricing by 20% or more, so educate yourself in order to get a fair deal.
The Deed
Remember, just like selling a car, you need to do some title research to make sure your house has a clear title. Otherwise everything comes to a halt until resolved, in any real estate transaction. This way, the process and closing go much faster, especially with a cash purchase and when not using a real estate agent.
The Trouble with Traditional Sales
If you’re thinking of selling for cash, part of the lure is likely the speed and the simplicity, because the transaction is so straightforward and fast. With a traditional buyer, 99% of the time their funds come from a bank or a mortgage lender. What many people don’t realize is that it’s the lender requirements that make any mortgage loan for purchasing real estate take so long. Mortgage companies and other lending companies are the ones who require things like the home inspection, a house appraisal and an extensive credit report, among other things like loan underwriting, that all take time.
After Inspection Repairs
Then after the home inspection on your property, if anything is found considered to be in need of major repairs, it must be completed before the closing date. Things like a new roof, HVAC system, plumbing or electrical issues, and things of that nature would have to be remedied. Sellers are responsible for these costs, and buyers can’t strike a deal with the lender to make the home purchase until repairs are finished.
Questions to Ask – Individual Investor (Not Company)
Certainly, some questions you should ask a cash home buyer that is an individual real estate investor, as opposed to a business, are things like:
- Do you have a copy of your contract I can look over? (See paragraph below.)
- How many houses have you bought?
- What kind of houses are you normally looking for?
- How much are you paying?
- Are you willing to help me with the cost of homeowner’s insurance or property taxes as part of the closing cost agreement? (Or whatever you determine is best to ask for. Negotiations are customary, but not required.)
- Can you put some earnest money down?
- Do you have an escrow company to handle the transaction?
- Can you provide me with proof of funds? (See paragraph below.)
All of these questions are perfectly acceptable to ask individual investors, and in most cases they will be prepared for them.
Proof of Funds
And remember, it is perfectly normal to ask to see proof of funds, such as a bank statement. In most cases, an individual investor who is trying to purchase a property by paying cash will already have that prepared. In other words, it’s just a matter of asking to see the proof. Also, earnest money is the same way, so don’t be afraid to ask money questions. As the seller, you have the responsibility and the right to protect your assets!
The Contract
Whenever selling or purchasing property, all interested parties must sign a purchase agreement or a contract. This is also part of protecting yourself during the home sale. Get a real estate attorney to go over the agreement, especially if selling FSBO. Never sign any contract until you understand it fully and feel confident in it.
Questions to Ask – Cash Home Buying Company
Rather than focusing on questions here, let’s talk about the questions we can answer. If your house is not on the market yet but you’re considering selling, it may be a better idea to try a cash home buying company. For example, with Sell Your House Fast – Kansas City, here are some of the things you can look forward to:
- NO FEES OF ANY KIND FOR OUR SERVICES!
- NO HOME INSPECTIONS NECESSARY!
- NO APPRAISALS NEEDED!
- NO REAL ESTATE AGENT COMMISSIONS!
- NO REPAIRS NECESSARY!
- NO CLOSING COSTS!
- NO OBLIGATION, FREE CASH OFFER!
- WE BUY HOMES IN ANY/AS-IS CONDITION!
- WE PAY ALL COSTS ASSOCIATED WITH THE SALE OF YOUR HOUSE!
Sell Your House Fast – Kansas City
Here at Sell Your House Fast – Kansas City, we are the cash buyers who care about our clients, helping them with a solution to a problem that benefits all parties involved. You just fill out the short form right here on our homepage of this website. A cash buyer will be in touch shortly to schedule an appointment to see the property in person. At that time, the cash buyer will be prepared to make you a cash offer on the spot! So contact us today, we look forward to serving you.
