The fastest way to sell your house when relocating is a cash home sale. A cash sale allows you to find a local buyer, get an offer, and close in as little as seven days. In some cases, you can close faster than seven days due to the simplicity of the transaction and your circumstances.
If you are like most people, you do not have time for a traditional home sale when relocating. You may also not have the budget to repair your house, hire a realtor, or pay closing costs. If you need a fast solution without the hassle of listing your house, a cash home sale gives you flexibility with a solution you can work with.
What is a Cash Home Sale?
A cash home sale is a type of real estate transaction in which the buyer pays for the property in cash, rather than obtaining a mortgage loan. The buyer has the full amount of the purchase price in cash on hand at the time of the sale, and can complete the transaction without the need for financing.
sale, there is no need for mortgage loan application, loan underwriting, and closing, which can take several weeks or even months. Cash buyers are often more motivated to move quickly, and may be more willing to close the sale quickly, which can also speed up the process.
This type of sale could be beneficial for you if you need to relocate quickly and have to get rid of your property or get out of your mortgage as soon as possible.
How Can a Cash Home Sale Help You Relocate Faster?
There are several ways in which a cash home sale allows you to relocate faster.
- Faster close: Cash sales can often close more quickly than traditional sales, since there is no need to secure financing from a bank. This can be especially beneficial for sellers who need to relocate quickly.
- Certainty: A cash sale eliminates the risk of a sale falling through due to financing issues. Once the cash is in hand, the sale is complete.
- Flexibility: Cash buyers may be more flexible when it comes to closing dates, repairs, and other terms of the sale.
- Simplicity: Cash sales can be less complicated than traditional sales, since there are no mortgages or appraisals to worry about.
- No closing costs: With cash sale, you may be able to avoid paying certain closing costs such as mortgage origination fees or appraisal fees.
- Avoiding inspections: A cash buyer may not require inspections, which can save the seller both time and money.
- Avoiding home repairs: A cash buyer may not require repairs, which can save the seller both time and money.
What Are the Steps in a Cash Home Sale?
The steps in a cash home sale may vary depending on the specific circumstances of the sale, but generally include:
- The seller and buyer agree on a price for the property.
- The buyer performs a property appraisal.
- The buyer and seller will sign a purchase contract, outlining the terms and conditions of the sale.
- The buyer will pay the full amount of the purchase price in cash at closing. The seller will receive the full amount of the sale price in cash at closing.
- The buyer will take ownership of the property and the title will be transferred to their name.
- The sale is complete once all the paperwork is signed, and the cash is transferred from the buyer to the seller.
Get a Fast Cash Offer From M1 Home Buyers
If you need to relocate and do not want the hassle of a traditional home sale, we have the solution. M1 Home Buyers can buy your house as-is and pay cash. There are no closing costs or realtor commissions. Plus, you don’t pay for home repairs. You can close in as little as seven days. Call 248-397-5800 to get a fast cash offer.