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How quickly can a cash buyer close?

How quickly can a cash buyer close?

How quickly can a cash buyer close?

If you're looking to sell a home on your own to a cash buyer, you may be curious as to how long it is actually going to take. It may seem like it will take a buyer a while to get their cash and other documents in order, but in actuality, most are ready to close in ten days or less. The one who is usually holding up the transaction is the seller. For those wanting to sell their homes quickly, here are some tips that will keep you from slowing down your own deal.

1.) Make Sure Title is Clear ( 2 - 5 days)

Any prospective buyer will want to ensure that your home has a clean title before they make their purchase. Although most titles are clear, it is still a necessary step to ensure that there is no future dispute over ownership. When selling a house on your own, it will be up to you to pay a title company to perform the search. Depending on how many documents the examiner has to search through, and how busy they are in general, a title search could take anywhere from one hour to two weeks to complete.

2.) Order Payoff Amounts of Loans and Taxes (2 - 5 days)

If you plan to pay off the mortgage of the house at the time of selling, then you will need an official payoff letter from your mortgage company. Some companies will do this for free and others charge around a $25 fee. This letter will make it clear how much you owe (interest and fees included) by the date you plan to sell. Again, this time can vary depending on your mortgage company, but most should have the document to you within two weeks. Also, be sure to have tax records for the house and information on any pending property taxes.

3.) Make Sure that You Have all Other Paperwork (A Week or Less)

In addition to the title and payoff letter, you should also have a property disclosure form, a copy of any homeowner's by-laws, and a copy of the home inspection (if you chose to get one). An inspection shouldn't take more than a week to get done and the other documents can be completed in a day.

4.) Be Willing to Move Out Quickly (Up to You)

When someone is showing real interest in buying your home, don't deter them and put off the sale date by not being able to move out quickly. Most buyers are eager to move into their new homes and you can close the deal quickly by having a speedy departure. Consider moving out nonessential items while your house is on the market so that when the time comes you can move out in as little as a few days.

The absolute best way to ensure that your home is sold quickly is by staying organized. Even though most of these items can be taken care of in less than two weeks, it is best to stay mindful of Murphy's Law and allow yourself a month or two, just in case. Also, most of these matters you can take care of well before the sale date. Having everything prepared will entice buyers and will help things to flow smoothly.