Buying homes for cash is a popular trend that has helped homeowners and property owners get out from underneath the traditional model of listing with an agent. If you’ve wondered just what the process is, continue reading to find out and see if this option is right for you.
When you hear the phrase “all-cash offer,” it’s usually not done with actual cash. It means that someone buys a home without financing. To close, they transfer funds electronically or with a cashier’s check. This can happen with an individual who plans to live in the home or by real estate investors such as Glast Heim Home Buyers. Typically, you contact us and disclose some information about your home. We then send an offer. If you accept, we close and send you money.
Here is a more detailed description of our process.
Step #1: You contact us and provide details about your home, and we review those and check out the home.
Step #2: We offer you a reasonable price for your home, and you either accept or decline, with no pressure or obligation from us.
Step $3: If you accept the offer, you sign the contract, which is a Purchase and Sale Agreement contract. This means you are “going under contract” with us.
Step #4: We verify the funds to close the deal and usually transfer it electronically or give you a cashier’s check.
Step #5: We will choose a title and escrow company to ensure that the property lines are drawn correctly and that no liens need addressing. They will issue the insurance, and on the day of closing, ensure that the property changes hands. The escrow company’s responsibility is to manage all closing documents and manage the transfer of funds, and complete legal paperwork that records the sale.
Step #6: It’s common a buyer orders an inspection of the property; however, we typically buy a home as-is, even if there are major repairs needed. After the inspection, it’s time to close.
Step #7: You’re ready to close now, so be prepared to sign a bunch of documents, such as final closing instructions, HUD-1 settlement statement, title deed, certificate of title, loan payoff statement, mechanics liens, bill of sale, and statement of closing costs and information that verifies you are who you say you are.
Ensure you bring the following items to closing:
- Your government-issued ID
- House keys, garage door remotes, and any codes to keyless entry and alarm systems
- The deed if your home is paid off
- A certified cashier’s check to cover any outstanding costs that won’t be covered by your proceeds (this might include property taxes, lien payments, or prorated utilities.)
Interested in Selling for Cash?
Now that you know the process of buying your home for cash contact us if you think this option will work for you. We will get the process started quickly, and if right for us both, allow you to control when to close. We buy homes in Fort Walton Beach, Florida, and charge no fees or commissions. Get your FREE offer today!