There are several ways to sell a house. Many people list their home with a local real estate agent. Others attempt to sell it themselves, while still others sell their house for cash to investors.
Closing a house sale is complicated. There are several parties involved in the process. These parties include the buyer, the buyer’s real estate agent, mortgage companies or banks, escrow companies, and attorneys. This is not the case when you sell the house for cash. Dealing with companies that state “we buy homes in Harrisburg” is far simpler. There are only two parties involved: you and the buyer. There is far less paperwork, the deal will close fast, and there is considerably less risk the deal will fall through.
What Is an All-cash House Sale?
Technically, there is no such thing as an “all-cash” house sale. It is illegal in the US to close a real-estate transaction with cash. When you hear the sale was all-cash, this means the house was purchased outright, without any external financing. Upon closing the transaction, the funds are transferred from the buyer to the seller electronically, or a cashier’s check is issued.
The Closing Timeline
- Financed Purchase: When the buyer takes out a mortgage on the house, the transaction time can be as long as 60 days. The timeline is usually set by agreement between the seller and the buyer.
- All-cash Purchase: There is no lender involved when the sale is consummated in cash. As such, the time for the deal to be completed can be considerably shorter. A cash sale can close within a week or two.
When you sell your house for cash, the process is straight forward. All you have to do is contact a company stating, “We buy homes in Harrisburg” and ask them to make an offer. If the offer is acceptable, the buyer handles the entire transaction, including any paperwork.
For more information visit us at Integrity First Home Buyers.
