In a house sale, the closing legally transfers the property from the seller to the buyer. In a traditional sale, the process can result in a long, nervous wait for all involved. In a cash sale, however, the closing is simple and straightforward. You can almost always close within 30 days.
You Set the Date
When you sell your house to a cash buying company, you choose the date for the closing. This is a big difference from the traditional sale, where you have to deal with the schedules of brokers, agents, mortgage lenders, and others.
Since the cash buying company doesn’t need to get financing, they are ready to pay you as soon as the paperwork can be completed. You can decide how long you’ll need before the closing takes place. You may need time to find other living arrangements and move out of the home.
What Happens After the Offer
Between the offer and the closing of a traditional home sale, a number of third parties take action. The buyer typically orders a home inspection, and the mortgage lender requires a property appraisal. Waiting for these professionals to complete their tasks can delay the closing for weeks.
Cash buying companies don’t require inspections or appraisals. After you accept the offer, the legal paperwork can usually be arranged within a week or so. You just need to show up to sign the papers.
Factors Affecting Closing
If you still owe money on your home, you’ll need to arrange to pay off the mortgage at closing. The deed will need to be clear of any liens by a lender or any other party before it can be legally transferred to the new owner, which will be the cash home buying company. Otherwise, the closing can proceed quickly. Since it’s a direct sale, there are no other arrangements to make. You just transfer over the deed, receive your cash, and it’s finished.
The cash home sale process is simple and fast. As a bonus, you also don’t have to pay commission or any closing costs. From the time you contact the cash buyer until you sign the final papers, you can be finished selling your home in well under 30 days.
You can close on your North Georgia home within 30 days with a cash sale. Click here to learn more!