How do I sell my house as-is for cash?
- An Individual buyer who wants to purchase your home in order to live in it. He has all the money ready to give to you, he is not going to need any help from the bank to finance this purchase.
2. Another type of an all-cash buyer is a real estate investor, who is also sometimes called an Ibuyer.This option generally takes a bit longer because the buyer usually takes a mortgage out on the home they are buying. This process is usually 30 days but sometimes the buyer and seller decide to align with relocation plans or another real estate purchase which can take 45-60 days.
Let’s discuss the pros and cons of the two different types of an all-cash offer.Pertaining to the first option with the individual who is not using any financing options. He already has the cash and is ready to make a purchase. You could potentially have cash in your account from this transaction in as few as 2 weeks. How much cash are we talking about though? As soon as he heard about your property he probably already had an idea of how much he wanted to spend. That means before he even plans on coming to look at your place to evaluate how much it is worth, it doesn’t really matter to him because he already knows the odds are in his favor and he has the cash to back it up, the only thing to consider is if the dollar amount sounds enticing to you or not. I would imagine that with an individual buyer, there is not much wiggle room for negotiations. So at the end of the day, you will need to decide if this deal makes sense to you or not. The real estate investment deal will take a bit more time but relatively speaking 30 days is not that long at all. Remember, he will be using financing options through the bank so there is more breathing room in this case to negotiate. You may not get the dollar sign you were looking for but your odds look much better. Most likely, he will visit your property, evaluate it with no expectation, and then the two of you will have a discussion about it.
Let’s take a moment to compare and contrast the real estate investor with the individual.An individual is just a person who wants to buy your home for cash immediately without help from the bank and probably make a few to a ton of renovations, and he has little to no intention of selling it when the transaction is complete, he most likely wants to live there so when making an offer he is also keeping in mind of how much it is going to cost him to make all the necessary changes to the home. Now the real estate investor is essentially a businessman and you can be confident that this is not the first all-in cash purchase that he has done with financing through the bank. He is no stranger when it comes to negotiations and what will need to happen to make this happen. Yes, he is thinking about how he will make a profit but a good real estate investor will want to make sure that you walk away from the deal happy, because who knows maybe you’ll refer him to a friend of yours.
What will I need to provide to close a cash real estate deal?Before we get into specifics of what you’ll need to give to your real estate investor in order to close the deal, let’s discuss an important and sensitive issue that I feel tends to get overlooked, and that is you. Yes, that is right, you read it correctly. YOU! I want you to take a moment to acknowledge that even though this process is stressing you out, and has you completely overwhelmed to the point you sometimes do not know what to do with yourself that you are still loved by the people in your life, that there are so many good things that you are are blessed with. In the bigger overall picture, your life is fantastic. In this brief moment in your life, you are experiencing emotions that are difficult to deal with, and this will pass and after enduring these hardships you will become a better, smarter, and stronger person. Everything in life happens for a reason, and it is okay that we may not know what the reason is. In life there is always a lesson, sometimes multiple lessons to take away whenever we go through challenging situations, so take a deep breath and let’s get into what you’ll need to provide to the real estate investor before moving forward with signing the contract in closing your all-cash deal.
4 things you should NOT forget to bring for your contract signing:
1. A government-issued ID
You are probably thinking to yourself “Duh, that’s obvious” The fact is nothing is obvious. Most people want to know exactly what they need to do even if it might be completely transparent.
We see more than ever before that we live in a world, where most people need things explained to them in the simplest of ways in order to understand the information.
2. The deed, if your home is paid off.
Whether you are selling your house to an individual or a real estate investor, it is important that your house is paid off, and you’ll have to prove it.
If you can’t provide a deed to your house, be open to discussing that with your real estate investor. He is not here to scam you, he is here to assist you and in return, you will both benefit from being honest with each other.
As we have all learned since grade school “honesty is the best policy.” Besides providing the deed to your home, you will not have to concern yourself with repairs and things of that nature, which we will touch upon later.
3. Items and important information necessary for the property such as house keys, garage door remotes, and codes for the house that have keyless entry and/or alarm systems.
Again, it may be clear as a bell that you would have to provide these critical essentials before closing the deal. I prefer to be as straightforward as possible so you will know exactly what to expect before meeting with your real estate investor to close the deal. Most likely he will also tell you what to bring preceding your appointment.
4. A certified or cashier’s check to cover any outstanding costs that won’t be covered by your proceeds, like lien payments, property taxes, or prorated utilities. Your escrow company should let you know ahead of time if you’ll need to bring additional funds.
This is situational-based. Hopefully, you do not have any outstanding payments on your home and to be clear this does not include repairs.If you have any overdue payments on your home, I suggest discussing it with your real estate investor. Remember he is on your side.
What are the benefits of using a real estate investor for an all-cash deal?As you probably have learned by now, this is an emotional and confusing process. No one will disagree with this statement, that’s for sure. By choosing to use a real estate investor, you are consciously deciding that you need some help in relieving this heavy overwhelming feeling which is drowning you in a sea of stress. Your trusted real estate advisor that you have chosen will help make the proceedings of this transaction as easy as possible for you. Another huge plus is that you can sell your home as-is, which means you will not have to spend thousands upon thousands of dollars on repairs, damages, and renovations. That alone should put a humongous smile on your face because that removes a tremendous amount of unneeded anxiety and stress. There are so many real estate investors out there to choose from, so reach out to them and see who you connect with. Don’t feel pressured to move forward with the first person you get on the phone with. Take your time, I can imagine you may feel in a hurry to sell your home but try not to rush the process. Even though it can be challenging and a bit frustrating at times, try to find the good points and enjoy the process, which is easier said than done but if you can find the strength to do this, it will change the way you view difficult life situations such as this.
Here are 3 reasons to sell your house for cash as is with the help of a real estate investor.
1. He understands the industry
From as early on in early childhood, we are taught indirectly through mannerisms and the actions of those close to us that it is belittling to ask for help. This is commonly found more in men than in women and I believe that it is important to bring this up in our discussion because we all need some help from time to time from people who are more knowledgeable and/or more experienced than we are. Even though many of us were taught not to, it is never too late to retrain ourselves in this aspect of our lives.
2. You’re not alone
I’ve personally always felt more comfortable having a teammate/partner whether it was in sports, studying for a test, or in business endeavors.
Having a teammate helps relieve the nasty tension that creeps on you. You know exactly what I am referring to, you get so stressed that your entire body becomes irritable. When you are choosing a real estate investor essentially you are choosing a teammate, someone who is going to help you and be there with you through all the ups and the downs.
There are many different types of teammates as well, so do your research, and be selective with who you decide to do business with. Ask yourself questions like “can I see myself being able to work well with this person?” and questions like “Can I trust him?”
Taking the time to feel the chemistry between the two of you, is very important because this is an important time in your life and you want to make sure you choose a good person that knows what he is doing and will help you along the way.
3. You will save so much money
Generally speaking when we are unfamiliar with something we end up spending way more money than we have to.
Therefore having an experienced individual in your corner to guide you will most definitely be in your favor because he will be able to navigate this whole thing for you, in order to make it easier and more efficient.
He wants to see you succeed because he’ll also benefit from it.
Am I taking the necessary steps to sell my house the way it is?New ventures and change, in general, are always uncomfortable and a bit scary, and you are exhausted but that is not going to stop you because you are strong and will persevere, look at how much you have already accomplished. I recommend giving yourself pep talks and filling yourself up with as much information as humanly possible. Every day, you should be asking questions and doing research, reading blogs that are similar to what you are going through such as “Am I better off renting out my inherited house or selling it for cash?” and reading as much information as humanly possible will help alleviate the extra weight you have hanging on you. Also picking the brain of your real estate investor, and discussing all matters with him will also bring you comfort that you are taking the necessary steps. Do you remember the first time you ever rode a bike? It was nerve-wracking, and you probably fell more times than you can count but eventually you got it down and became extremely confident, and the exact same goes for here. It’s completely normal to be a bit scared and caught off guard, we all feel like that when we undertake something new for the very first time. Before you know it you are going to be able to do this in your sleep(metaphorically speaking) and you will also feel more confident and by the end of the transaction, you’re gonna feel a true sense of accomplishment, relief, and ready for new beginnings.
Why should I feel a sense of accomplishment, relief, and ready for new beginnings?
Because you did it! Yes! You! It wasn’t easy but you were able to find a way to hold on and endure all sorts of challenges. The journey from start to finish was absolutely crazy with hurdles and tons of sleepless nights but you did it and you should feel like you just passed the LSATS.
Go out and celebrate because learning new things, and going through difficult unfamiliar situations like selling your house in an all-cash deal is not simple.
Thank Goodness, it is over and it has not been simple. In all honesty, it has been a hard ride, now is the time to breathe and reflect on the not-so-smooth house journey you have just endured.
I am a big believer in writing things out. I suggest writing down all your bottled-up feelings, scrunching them into a ball, and throwing them in the nearest trash bucket.
Strangely enough, this helps. It is possible that this may not work for you because no two people are alike. We all connect to things differently.
Luckily, there are tons of techniques out there to help you relieve yourself from stress.
3. Ready for new beginnings
A chapter of your life has come to a close, and something beautiful is about to happen. I once heard from a dear friend of mine that with every new home comes new fortune, new adventures, and new beginnings.
A fresh start is sometimes exactly what we need in our lives and now is a perfect time.
How many people can say that they have done that? It is not simple at all to try something new because we are creatures of habit, it is not at all easy to move to a new place because of that little voice in our head saying” Well, what if this happens?”
We only live once, and every day we should at least attempt to do the most wonderful things possible, get out of our comfort zone, and experience something new. To make new friends, to travel to some random place we never ever thought we would visit.
To do an act of kindness, to listen to someone’s life story. To start anew without any expectations.
Before Closing the door.You’ve made so many strides and have worked very hard but you are not entirely done. I highly suggest reviewing everything before signing the contract and closing the “all-cash deal”. Obviously, this is not a requirement, I often find that we can move too quickly because we get too excited. Therefore, I think it is of the utmost importance to double-check, even triple and/or quadruple check in order to make sure that everything is how it should be. Are you satisfied with the outcome? This is a big question you will have to ask yourself because once you sign the contract it is done and there is no revisiting your decision. Now, if you have made it to this point of the arrangement you should be feeling very good and confident in all aspects but still take some time to check in with yourself and to ask yourself questions such as “How do I feel about this.” Remember to be kind to yourself, it is so natural for us to be so hard on ourselves. We will always make mistakes, and if we are fortunate we will also learn from those mistakes, that is just part of life. We don’t want to fall into the trap of beating ourselves up because that can lead to low-self esteem and worst-case scenario depression. It is important to know that there is a difference between depression and having a broken heart. When you are depressed you feel completely and utterly defeated, like all hope is gone. When you have a broken heart there is still plenty of hope, you are just going through a difficult time in life. The outcome is up to us though, we choose whether to give up or to buckle up that seatbelt on this rollercoaster we call life and continue with a smile on our faces. On top of that, we can all benefit from letting go of our preconceived notions of what we think we know and trust our instinct. This is not at all easy to do because it is not the normal way of acting in society, because we often make decisions based on pure logic alone. I am suggesting something a bit different when we make important decisions there needs to be a healthy balance of logic and heart. What do I mean by that? Let me explain. If we would just make decisions with our minds alone we become in a way a person without emotions and that’s also not healthy. If we would make decisions with just our heart and without logic, we would most definitely feel committed to it but it most likely would have been foolish because there was no rationalizing your decision and that is also not healthy or smart. With that being said when we make decisions with our minds and our heart together as equal partners, we are finding the sweet point, that healthy balance that we need to have tranquility and a deeper understanding of what we commit ourselves to and that is why I strongly feel that before closing any deal and/or before making any big decision that one should really ask themselves with their mind and their heart, especially on a big deal such as selling a home. Ideally, we as humans would all have this healthy balance down pat before making any decision whatsoever, but this practice takes many years to become familiar with and awareness is key. Hopefully, you are now feeling a bit more informed, lighter, and confident and can now feel comfortable to begin and/or continue in your venture of selling your home. We have gone through quite a lot of information, so take the necessary time you need to digest it and internalize it.
We are here for you!As always if you have any questions feel free to reach out to us, we are here to help you in this stage of your life. Therefore, If you’d like to learn more about the cash value of your property or you’re interested in a zero obligation and 100% free cash offer for your home, just fill out the form on our contact page and we’ll get in touch shortly.
An all-cash offer is when someone buys your home with or without financing, transferring the funds electronically or with a cashier’s check.
The two types of cash buyers are individual buyers who want to live in the home and have the cash ready, and real estate investors (buyers) who usually take a mortgage out on the home.
The pros of an individual buyer are quick closing time and certainty of cash. The cons are limited negotiation and potential lack of renovation expenses.
The pros of a real estate investor are more negotiation opportunities and the possibility of a better price. The cons include a longer process due to financing and potential relocation delays.
You will need to provide a government-issued ID, the deed if your home is paid off, necessary property items (keys, remotes, codes), and a certified or cashier’s check to cover outstanding costs.
The benefits include receiving help in navigating the process, selling your home as-is without expensive repairs, and potentially saving money by leveraging the investor’s industry knowledge.
The blog suggests researching, asking questions, and discussing matters with your real estate investor to ensure you are taking the necessary steps and gaining confidence throughout the process.
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