If you are considering selling your home for cash, you may not know where to start. Selling your home for cash is a pretty simple process but there are a few key tips that you need to know. In a traditional home sale, you would have a realtor to walk you through the entire process. When you sell your home for cash, you have to find a good cash home buyer and be on the lookout for a few potential problems. At Ben Buys Indy Houses, we want you to have a great experience and above all, get a fair price for your home. Here are some key tips for selling a house for cash:
Key Tips for Selling a House for Cash
Have your paperwork in line
If you are selling your home for cash, you most likely want to sell your home fast. The main thing that slows down the sale process is paperwork. After all, paperwork is what makes the traditional home sale process take so long. We encourage our clients to gather their paperwork on the home they want to sell as soon as possible. You will need any documentation related to the house like mortgage loan information, deed, title report, property tax information, homeowners insurance information and any other reports or documentation that relates to the property.
Don’t worry about making renovations (unless they are small)
One of the great things about selling your home for cash is that you can sell it as is. That means that even if there are some things that need to be fixed, you don’t have to feel pressured to fix them to be able to sell. In a traditional home sale, your home would have to meet certain requirements like being move-in ready. You would also have to concede to buyers’ requests for making improvements to your home. When you sell your home for cash, you don’t have to worry about making renovations because the cash home buyer isn’t moving in. Plus, the state of your house is taken into consideration in the cash home buyer’s offer.
Know the value of your home
There are some shady businesses in the world of cash home buyers. It is very important that you have a good idea of what your home is worth so you know you are getting a fair price. You can get a home appraisal or talk with a realtor to get an idea of the market value of your home. Several factors affect the price of your home: neighborhood, condition of the home, number of bed/bathrooms just to name a few. The price of your home will depend on comparable homes sold in your area recently. Knowing how much your home is worth will help you know whether you are getting a good price on a cash offer. A cash offer won’t be as much as you could get in a traditional home sale. But, you will have a faster and simpler process.
Find a reputable, local home buyer
As we mentioned before, there are unfortunately some cash for home buyers that are just out to make a profit off of people. Make sure that you don’t get taken advantage of by one of those businesses. Start off by looking for a cash home buyer that is local. They know your area and will be able to give you a better price than a national chain. Ask your friends and neighbors if they have any recommendations on a cash home buyer. If you are in the Indianapolis area, check out what these residents have to say about Ben Buys Indy Houses.
Get all offers in writing
A lot of bad cash home buyers will try to pressure you into selling your home. Beware of any cash home buyer who gives you an offer over the phone but doesn’t have it in writing. They may say one thing and then give you less money than they promised. Get all offers in writing so that you don’t get less money than you need or agree on.
Don’t sign anything until you read and understand it
In the same vein as the previous tip, make sure that you not only have an offer in writing but that you also understand it before you sign it. Beware of businesses that will try to rush you through signing an offer. They probably don’t want you to notice something in their offer. At Ben Buys Indy Houses, we always make sure that our clients fully understand our offer. We are up front and honest about our cash offer and welcome any questions you may have.
Ben is committed to giving a fair price for homes in the Indianapolis area. If you are looking to sell your home for cash, he is the local and trustworthy buyer you need. Contact us with questions or to get your quote today.
