The timeline of selling your home is one of the things that is hardest to predict when you are making a real estate sale. It can change, depending on the market conditions, the condition of your home, and any number of other factors. However, the timeline that comes with a cash home sale is much different from a normal real estate sale.
The first thing that you do as part of selling your home to a cash home-buying company is to submit your information. Unlike the traditional real estate selling process where you receive offers and choose one when you sell to a home-buying company, you submit your information to the company and they come back with an offer to you. They use the information that you submit to evaluate your home’s value, any needed repairs, and some other information that is used to make put the offer together. Submitting the information doesn’t take very long, and you can usually get the offer back within 7 days of submitting.
Once you have accepted the offer, you move into the closing process. For a traditional real estate sale, this involved negotiating the terms of the sale, getting inspections, making repairs, figuring out the day you will move out, finalizing the financing, and actually signing the papers. When you sell to a cash home-buying company, almost all of those things are removed from the closing process. The only part of the closing process that is still required is deciding on a move-out date and signing the papers. Cash home-buying companies buy homes as-is and they don’t require financing, since they use the cash flow from their business to buy your property. This process can move as quickly as you like, and you can usually close within a week.
The move-out date is something that is decided between you and the buyer. When you sell your home traditionally, you have to deal with the timelines of the buyer. They will have a date that they want to move into the home, and you may not have any leverage to negotiate with them. When you sell to a cash home buying company, you have more flexibility. You can, within reason, set the date that you want to move out of the home and usually this will be accommodated. So, the timeline for moving out will depend on you and how fast you want to move out.
One of the biggest benefits of a cash home sale is that the timeline moves very quickly, especially compared to a traditional sale. If you find that you need a quick sale, understanding the process will allow you to make the best decision for you and your home.
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