People choose to sell their house for cash for all kinds of reasons: divorce, job layoff or relocation, mortgage payments just becoming too much to handle, or just don’t want the hassle of a traditional sale. Whatever the reason, you are now in the position of needing to sell your house fast for cash in San Antonio.
You need, then, to market your house to people for whom buying a house with cash is the actual goal (not just a bunch of tire kickers), get them in the door, make sure you have a solid buyer, and then close the deal. Understanding the process and knowing how to get your house ready for sale may help.
How To Sell Your House Fast For Cash in San Antonio
Title/Deed
Generally, after locating a solid possibility, people buying a house for cash will want to make sure some kind of purchase-and-sale agreement has been drawn up. There are many different real estate sales contracts but most states have one that is the standard and most widely used. In Texas, it is the TREC 1-4.
Next, they are almost always going to conduct a title search to make sure the title is clear, with no liens or other encumbrances. And they want to know that you are the legal owner and can actually sell them the house.
They will want to know what kind of deed you are offering, for example, quit claim, warranty, or special warranty. Different states and different circumstances will call for different ways to transfer the title.
Cash Offer
If all these things are in order, the cash buyer will make an offer. A buyer offering cash often has more bargaining power because the sale doesn’t depend on a third-party loan and all the time and headache that can come with it. You can always make a counteroffer if the first offer doesn’t suit you.
Cash offers also have advantages to the seller. They close faster, do not require appraisals or lender inspections, and won’t fall through at the last minute because the buyer couldn’t qualify.
Inspection/Appraisal
If an offer is accepted, the person buying a house from you will then want to inspect the property and possibly an appraisal done to make sure there are no huge problems and that she is getting her money’s worth.
Most professional cash homebuyers will avoid these steps because they have the experience to make these determinations on their own.
Closing For Cash
Since this is a cash deal, you and the buyer can set the closing date for a time convenient for both of you, usually much sooner with a cash deal. You simply show up to the title company or have a notary come to you so that you can sign the final documents and collect your proceeds.
Here are some steps you need take before attempting to sell your house for cash.
Price
Pricing your house right is probably the best step you can take toward making a fast sale for cash because it’s what gets people to consider your house in the first place. If your price too low, buyers will think too much is wrong with the house, and a too-high price will make it sit unsold for a long period of time.
Price your house realistically and based on your goals. Setting a crazy high price that you know is not realistic will only cost you time in the end. Is it most important to you that the house gets sold quickly and without any hassle or would you like to wait and see if you can get a little higher price?
Curb Appeal
Curl appeal does make a big difference. This is what creates that critical first impression and gets them to stop and come in the door. So sprucing up the yard and the house’s exterior are definitely worth the time and expense involved. And it doesn’t take a lot, really – maybe just some lawn clean-up and minor landscaping, a little roof repair, touching up paint, and dressing windows.
Deal Sweeteners
It never hurts to sweeten the deal to make it more attractive for buyers. The tried-and-true principle of reciprocity tells us that people are willing to give more (sale price) if they feel they are getting something in return (the deal sweeteners).
For example, you could offer to pay some or all of the closing costs, or you could offer to provide a transferable home warranty, which would cover, say, major appliances and/or the HVAC systems.
If you need to sell your house fast and are looking for someone to buy your house, these tips and steps will help you close a cash deal. But there’s, even more, you can do to get a better cash offer and expedite the sale.