So you’ve found a buyer for your home. They’re not just any buyer though. Your buyer is a cash buyer. If you’ve never worked with a cash buyer before, it’s understandable if you think that it doesn’t make a difference how someone’s paying for the house. It does though, and one of the biggest differences is how much time it takes them to close on the house.
Less than Buyers with a Mortgage
Did you know that the process of closing the deal on a house with a buyer who has a mortgage can take 30-45 days? And that’s if everything goes smoothly. Cash buyers don’t typically take as long to close. That’s because they already have the money on hand to pay for your house. They don’t have to wait to be approved by the lender, or for the lender to approve the house they’re buying. Cash home buying companies are especially fast at closing, some of them closing in as little as 7 days.
Things That Might Take a Little Extra Time
Just because your buyer can pay for your house in cash doesn’t necessarily mean that it’s going to be smooth sailing and that you don’t have to deal with the occasional delay. Cash buyers will still want to see the house and may ask to have it inspected. Depending on the results, they may ask you to do some repairs on the property. That can increase how much time it takes to finalize everything with the sale.
The Cash Home Buying Company Difference
If you want the ultimate experience when it comes to closing fast and with minimal effort on your part, a cash home buying company like Minnesota Home Guys could be your ideal buyer. These buyers rarely ask sellers to do any repairs, only need to see your house once, and come with all the advantages of already having the funds to pay for a property. They also cover closing costs. As a bonus, they don’t use real estate agents, which means you don’t have commissions to worry about (unless you have an agent of your own, of course).
Once you’ve found a buyer who’s willing to purchase your house, closing the deal is the next step in the process. If your buyer is a cash buyer, you’re in luck. The process will likely take a lot less time than it would if you were selling to someone with a mortgage. You’ll be that much closer to being able to move on to the next phase of your life.
Want to know more about how selling your house to a cash buyer works? Click here to learn about the Minnesota Home Guys home buying process today!
