How to Sell Your House to a Cash Buyer

Home ownership just isn’t what it was in the 1950’s.

In the past, people would buy a home and live there for the rest of their lives, often passing it on to their family. Things have changed. Many first-time homebuyers are going into it with the attitude that they’ll sell when it’s time for a change. If you’re looking to sell your house, you might be amazed at how quickly you can get a contract.  But remember it still has to appraise and the buyer still has to get their loan.

Right now in June 2018, it is very much a seller’s market. But even despite the speed with which most houses sell today, not all buyers can get the property closed.  Right now in our hot market to sell for top dollar, you need to have your house spic and span, and in well-maintained condition, and you need to list it for sale with a local Realtor who is going to charge between 5 and 8 percent of your purchase price to sell it.  The buyer is then going to do an inspection and quite possibly ask you to pay for some repairs.  Then after repairs are complete, you have to hope in our inflated market that your house will appraise for what you are selling it for, and if it does not, hope your buyer still wants it and is willing to put more cash down.

Typically the process from start to finish, after you have your house clean and fixed up is going to take you about 3 to 6 months and that is if you are priced correctly and no issues are putting a fork in the works.  If you don’t have the luxury of time to clean and prep the property, for your Realtor to market it, to find a buyer, to get through inspections and appraisals you might consider an alternative, selling to a cash buyer.

How To Sell Your House To A Cash Buyer

One option that many homeowners are turning to is selling to a cash buyer like Kim, Don or Scott Tucker to buy your house from you.

These independent cash buyers typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them for a profit. The Kansas City metro has numerous reputable and trusted cash buyers who will buy your home quickly.

Selling your house to a cash buyer is relatively simple.

You provide him or her with information about your home and personal situation.

The cash buyer will then inspect the home and determine a fair value, taking into account necessary repairs, and make an offer. If the offer works for you, you’ll close, and receive the payment for your house in cash… usually within 10 days to 2 weeks if you want to close that fast.

Make Sure Your Cash Buyer Can Buy!

Now, this might seem strange, but there are a bunch of people out there advertising that they will pay cash for your house in 7 days or less, but they don’t have the cash or access to cash.  Before you sign the contract and accept their offer, be sure to ask a few questions:

  1.  How soon do you plan to close?  A real cash buyer will typically be able to buy your house in about a week to 10 days at the most.  Thirty days can also be reasonable, but any longer at the buyer’s request and they are probably not a cash buyer.
  2. How long have you been in business?  If they are new to the business, they may or may not get the deal done.  A cash buyer who has been buying for a few years is ideal, here at kcmoHomeBuyer, we’ve been buying houses since 1999.
  3. Can I Have References?  A good cash buyer here in Kansas City has one or two title companies that they have closed all their many transactions with.  Asking to speak to their closer to verify that they do what they say they do is always a good idea.  Find out who is at what title company and then call them up.
  4. Proof of Funds?  If you work with a Realtor they will ask the cash buyer to provide proof of funds, and when you are selling to a cash buyer you might want to do the same.  However, most local cash buyers are using funds from friends, family, and business associates to purchase and they may need to place your house with the right funding source, so obtaining the proof of funds might take a day or two and by the time that day or two is up, they may well be ready to close.

How Fast Can You Sell Your House To Local Cash Buyer?

This process is extremely quick compared to more traditional methods, often taking just 7-10 days.

If you need to sell your home very quickly, with little hassle, selling to a cash buyer is a great option.

When you work with a real estate investor… there usually aren’t any commissions involved, as you don’t have to worry about paying an agent commission or paying for any repairs.

While cash buyers are often looking to purchase homes at a discount, allowing them to fix up the house if it needs repairs… then sell the home to another homeowner to earn a living, you may find that the discount is more than made up for in the savings of money paid for commissions and repairs and the time and headaches of getting the home ready to sell.

The Hidden Costs Of Waiting To Sell Your House

Many people don’t consider the hidden costs of holding onto a property.  What we mean here is you own a property that you want to sell, but you have costs that you keep on paying until you ultimately get it sold.

Extra months of mortgage payments, utilities, maintenance costs, and other fees could quickly add up. Often sellers spend months procrastinating about cleaning out a house and getting it ready to sell.  By biting the bullet and selling at a slight discount, right now today as the house sits,  you could potentially end up with a larger sum in the long run.

By selling your home to a cash buyer, you’re saving yourself possible months of headaches, and you can quickly move on to your new home or in many cases, get rid of the hassles and expenses of an inherited home.  You’ll avoid expensive commissions, repair bills, and cleaning fees and save months of holding costs that you’d have if you were selling via more traditional means.

To find out what the Tuckers here at kcmoHomeBuyer can offer, just give us a call or fill out one of our forms. We can not only offer you a cash sale but because we are also licensed real estate agents, we can look at other options that might fit your needs better.


Leave a Comment