If you’ve been searching for ways to sell your home quickly, you’ve probably found a few home buying companies that buy houses for cash. Selling to cash buyers allows you to avoid typical closing costs, real estate agent commissions, and other service fees you would pay when selling through a realtor.
It can quickly get overwhelming when trying to sell your house fast, but this guide will help home sellers figure out what to look for in a cash company.
The Cash House Buying Process
First, let’s discuss the typical process for selling homes or condos. There are a few ways to sell a house, but most people will either sell through a real estate agent or to all-cash buyers.
Selling through a real estate agent involves a long process that can often drag out for months. First, you’ll need to investigate the real estate market and find an agent you can trust. Some agents are better than others, so reading reviews and talking with different agents about your home selling goals is always helpful.
Your agent will probably come and look at your home to do a valuation, but you won’t be ready to list it yet. First, you’ll need to have a professional do a home inspection to check for hidden issues in your home. The buyer will want their new home to be perfect, without structural damage. If the inspection uncovers any damage, you will need to pay for renovations.
Renovations can be few and inexpensive, or they can be many and expensive. Repair costs can frequently be tens of thousands of dollars, depending on the extent of the damage. Even if there is no damage, you may want to invest in landscaping to improve your curb appeal or renovate your basement. That way, when you host open houses, people will like what they see.
If you own a distressed property, you will likely pay top dollar for repairs.
You’ll then have to list your home on websites like Zillow. Don’t expect a quick closing.
Even if you find a buyer at one of your showings who wants to purchase your home quickly, they still need to apply for a mortgage, and the lender may require an additional inspection, a title search, and more. The process can drag out, which is why many sellers who want a fast closing opt for an all-cash offer.
At CB Home Solutions, we buy houses Oshkosh for cash and use a quick, four-step process that allows you to get your home’s fair market value without dragging out the home selling process.
Here’s how we save you a lot of hassle:
- First, fill out a form online or give us a call at +1 (920) 215-4201 to tell us about your home and situation.
- We’ll get back to you and discuss your situation.
- We’ll provide you with a fair cash offer (with no obligations).
- Finally, we’ll use a title company to close and give you your cash in hand in as little as two weeks.
If you want a quick, competitive offer, use a reputable cash buying company. Many cash home buyers, such as flippers and real estate investors, want to turn your home into a rental property or sell it later at a higher price.
There are also iBuyers, such as Opendoor, OfferPad, and RedfinNow. iBuyers are large internet companies that purchase homes without a third party in the middle. However, RedfinNow only operates in around 20 metro areas, including San Francisco, San Diego, and Los Angeles. Outside of California, it operates in cities like Atlanta and Austin.
However, it’s easy to fall for a scam if you aren’t careful. Using a reputable company for a home selling all-cash deal allows you to get instant offers without compromising on your home’s value.
If your home is old and doesn’t look good, we can help, too. Selling a house that needs a lot of repairs can be tricky unless you sell to cash buyers who give you money upfront. We can even help you sell a home facing foreclosure for a reasonable sale price.
Cash Home Buying Laws
Homeowners must comply with relevant home sale laws when selling a home for cash in Green Bay, Wisconsin. However, since you won’t usually be selling to someone who is taking out a mortgage, you won’t have to comply with mortgage laws, for example.
Nevertheless, it is still worth getting an attorney to ensure your FSBO home sale goes smoothly. An attorney can help you review the Offer to Purchase and contract before you sign them. That way, they can find any loopholes that may be disadvantageous to you.
If you want to add contingencies or amendments to the contract, it’s essential to have a lawyer add them or at least review them to ensure they serve their intended purpose. Your lawyer can also help draft your deed to ensure the language is on point.
Most of the time, you will get your money upfront when dealing with a cash buyer. However, you may want to use an escrow service.
Alternatively, you may want to offer seller financing to the buyer, which makes sense when you have a prior relationship with them. For example, if you are selling to a relative or close friend and are aware of their financial situation, you may want to offer seller financing to help them.
Your lawyer will be able to ensure that your financial agreements with the buyer are in order and that they will be legally obligated to pay you back according to your agreement. If you don’t have the proper documents, it might be hard to prove their debt to you later.
You don’t usually have to pay capital gains taxes when selling a home, but that only applies when the gain is less than $250,000 ($500,000 for a couple) and you have lived in the house for two out of the past five years. In addition, you may have to pay capital gains taxes if you sell a second home, a condo, an investment property, or other types of properties.
A lawyer will help you figure out which taxes you have to pay. They may be able to help you figure out which exemptions apply to you to help you avoid paying more than you legally need to.
Cash Home Buyers in Green Bay, Wisconsin
Do you want to sell a house fast in Wisconsin? Being able to close quickly is one of the benefits of selling to cash buyers.
As you already read above, there are a few types of cash home buyers in Green Bay, Wisconsin. Some want to flip it quickly and will be very pushy to close the deal. That can get frustrating, especially if you are new to the process.
However, many cash home buyers, especially individuals, are not easy to deal with. Some may try to change the terms of the offer at the last minute, offering a lower price than you agreed. Others may back out at the last minute.
Some cash home buyers are new to the game and don’t even have the funds on hand to purchase your home. They might pretend as they do, but they are really scrambling to find someone to lend them the money. You want to avoid such buyers.
You always need to make sure that the buyer’s finances are in order before you can sell it to them. Ask them for proof of funds, which can be a statement from their bank that they have the money you are asking for.
It’s best to use a cash company that has experience buying homes. That way, you can be sure that they not only have the funds to purchase your home but won’t try any funny business. They will be quick and punctual.
Selling Your House to a Cash Home Buyer
After submitting the form and requesting a quote, we will usually get back to you with our quote in less than 24 hours. We can then close the deal in as little as 14 days – yes, you can get your funds that quickly!
Don’t feel like you have to rush, though. We won’t pressure you. If you need more time, we can close on your schedule. We offer flexibility: we can even let you stay in your home after you sell it to us if you need time to find a new home or move your furniture.
The best part of selling to us is that you can skip all the typical fees and commissions you would have to pay a real estate agent. Did you know that many real estate agents charge 5% or even more? That can be a lot of money! You can also save on home inspection fees and other costs.
Hopefully, you now understand the different types of cash home buyers and why selling to a cash buyer is superior to selling through a real estate agent in many cases. Also, you now understand how to choose a reputable cash buyer and avoid scams. If you have any questions, contact us or fill out our form to request a quote.