There is a misconception among sellers about we buy houses in Long Beach advertising companies. Many sellers think selling a house ‘for cash’ means these companies will come to the negotiation table with a briefcase full of money, but that’s never the case. In simple terms, a cash offer is one that is not dependent on the buyer being able to secure a loan.
Having said that, be rest assured the process involved in selling your house for cash is not Rocket science. If you need to sell a home in Long Beach, this step-by-step guide will help you walk you through the process. A quick house sale in Long Beach doesn’t have to be done wrongly; read on to discover how we can help you make an informed decision.
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How To Sell Your House Quickly In Long Beach
Cash buyers share a common trait: they do not need lender financing to buy your house off the market. They are usually considered the go-to option whenever you need to sell your house fast in Long Beach. However, cash buyers differ in types of home purchased, the intent behind the purchase, and the overall experience with sellers.
Regardless of the type of cash buyer, you end up dealing with; you can expect the following to happen when you sell a property in Long Beach.
1. Get A Cash Offer And Review It
I’ve heard a couple of homeowners say, “Because I needed to sell my house fast in Long Beach, I didn’t review the intricate details of the cash offer.” Never make a similar mistake; once an investor presents you with a cash offer, you must go through the details and ensure it’s a fair number.
How can you tell if it’s a fair number? There is no one-size-fits-all answer for this because price evaluation can be tricky. Nonetheless, if your house is in great shape, look at similar properties in Long Beach with equal size and level of finish, and then deduct agent fees, add a couple of relevant discounts you feel the property is worth.
On the other hand, some we buy houses in Long Beach advertising companies will buy your house as-is. So, if your house is not in great shape, you should be looking at this option. Getting an approximate value cannot be done as explained previously. Here, you need to subtract the cost of fixing your house from the price a similar property in a better condition is selling at. And of course, deducting the agent’s commission, investor’s profit (usually 10-15%), and then you have a value you can compare the cash offer with.
Furthermore, it would be best to ensure the buyer has a good track record of closing transactions. Visit their website if you come across them via online search and see what people have to say about them. Your testimony should be such that “I needed to sell my house fast in Long Beach, CA, I found this cash buyer, and it was a really quick and easy transaction.”
2. Prepare And Sign The Purchase Contract
Usually, after accepting a cash offer, the rest of the transaction is very similar to a typical home sale. If you don’t know what a typical home sale entails, the cash buyer will first prepare a contract. Some of the things you should look out for in the contract include the purchase price, the deposit amount, and the closing date. You can either choose to append your signature or have an attorney review the terms.
There is no need for unnecessary delay after accepting the cash offer if you can sell your house as-is. But if any cash buyer doesn’t waive this, you might have to negotiate the price to make up for repairs.
If you want to sell your house fast for cash in Long Beach, you can encourage the buyer to make a “sight unseen” offer without doing any inspection. Sometimes cash buyers are comfortable with this if they know their price is so good that anything wrong with the house will not be an issue. On the other hand, some cash buyers plan on tearing down the home, and the land value is all that matters to them.
3. Identify Any Unique Requirements
While most cash sales are fast and straightforward, sometimes the process is a bit lengthened by extenuating circumstances. For instance, if the property is in a homeowner’s association, the HOA may require some days to process the buyer’s application. The municipal lien search is another process-delaying factor. In some municipalities, few days is enough for a lien search, while in others, it can take up to three or four weeks. Reviewing the cash offer and identifying the need for any extra requirement can help determine how long the transaction will be. Ultimately helping you decide if the timeline is in your favor. Regardless of any possible delay, a cash sale will always be faster than a traditional home sale.
4. Close On The Sale
The average time to close a traditional sale is 45 days; again, closing on a cash sale will generally go much faster than this. Usually, a cash sale can be completed within two weeks. One of the added benefits of cash offers is the flexibility and mutual agreement both parties can come to. For instance, if you need to close before moving to your next home, a cash buyer can delay possession even after closing.
Closing on a cash sale is somewhat similar to a traditional sale with little or no differences. In most cases, this will be done at a title company, where you will be required to sign some documents. Documents are usually similar to those of a traditional home sale and include the deed, settlement statement, and any property disclosures. But you will not need the mortgage and financing documents. Usually, the cash buyer drafts the paperwork or the title company.
Selling your house fast for cash in Long Beach doesn’t have to be a rigorous process, we buy houses in Long Beach, and we can buy yours too.
