If you’re looking to sell your house and receive a cash offer rather than a bank financing transfer to your bank account, then you’ll want to follow some easy steps to make the financial transaction of your dreams run smoothly.
Selling your house for cash can offer a faster transaction with a shorter closing period than standard bank avenues of financing. On top of that, there’s less legwork involved in cash sales and purchases because the buyer and seller can circumvent the professional hierarchy (and resulting slow down) that banks introduce.
Of course, this doesn’t mean your buyer will show up to the table with a briefcase full of cash – instead, it simply means that your buyer has the money on hand to buy the house and doesn’t need to secure a home loan to do so.
How to get the cash offer you deserve
If you’re set on securing a cash offer instead of a bank financing route for selling your house, then you’ll want to make sure you motivate buyers with cash to submit offers on your property.
If you want to motivate cash buyers to make an offer on your house, then you’ll want to make sure that you put your best foot forward. For example, you can sweeten the sale offer by:
- Making sure the price point is fair, or even lower than the market value
- Including a home inspection (or the cost of one) in the sale contract
- Including other inspections (HVAC, electrical, energy-efficiency, etc…)
- Offering a home warranty upfront to avoid the slow-down of that process in negotiations
- Including a land survey to ensure clear understandings of property lines
- Including title insurance as part of the home buying/selling transaction
- Being upfront in asking for only cash buyers
Typically speaking, you’ll want to make the deal as favorable as possible for the buyer. This helps with two things. First, it motivates the buyer (or buyers) to make an offer. Secondly, it eliminates the administrative legwork required to fulfill each of those processes – since you’ve already done that work, cash buyers that want to make a quick purchase will know they can simply make an offer and get a quick acceptance.
Where to find cash buyers
If you already know you are looking for a cash buyer, rather than someone financing with their bank, you’ll want to advertise the sale of your property on the proper channels. Of course, your real estate agent (if you’re using one) will have some ideas for you. But if you’re doing this process independently, you can choose to consult the following:
- Home Light’s Simple Sale Platform, which will simplify the pairing of yourself and a cash buyer
- Search online for cash buyers using Craigslist, Zillow, or other forums
- Work with a real estate company that focuses on wholesale home deals
If you’re motivated to sell your house for cash and want to find a cash buyer to complete your home sale transaction, then you’ll want to make sure you put your best foot forward. Also, be sure to search for cash buyers in the proper market sectors to save yourself the hassle of weeding out financed buyers.