The traditional way to sell a home is to list it with a well-known, local, real estate agency. However, there are other ways as well. Some owners attempt to sell the house by themselves, while others turn to cash buyers.
Selling a house is a complicated procedure. Several parties, other than the owner and buyer, become involved. These other parties include the realtor, the bank or mortgage company, the escrow company, and attorneys. This is not the case when you sell the house for cash. When you opt to deal with property investors who say, “,” the process is far simpler. Rather than deal with many parties, the only people involved are you and the cash buyer. There is far less paperwork involved, and what there is, is taken care of by the buyer.
What Is an All-Cash House Sale?
The term “all cash” is a misnomer. It is illegal in the US to close a house sale using cash. The term “all cash” is used frequently, but it means the property was purchased outright, without the need for external financing. Once the transaction has been completed, the funds are transferred to the seller from the buyer via electronic transfer or a cashier’s check.
The Timeline
Financed house purchase: It is not unusual for a transaction involving a mortgage to take upwards of 30 days. This timeline is one that is usually set by the lender, the seller, and the buyer.
All-Cash Purchase: There are no intermediates involved when the house is purchased for cash. The time to close the sale is far shorter. A cash sale can often close within a week.
When you agree to sell to a company that states, “We buy homes in Raleigh NC,” you can expect them to handle the transaction, including all documentation.
