Selling your house to a cash buyer often comes with a few different benefits. One of them is how fast the process can be completed from start to finish. Part of what allows a cash buyer to get everything done so quickly is how fast they are able to close on a property. Just saying that they can do it fast doesn’t really tell you much though. So how fast is fast?
Did you know that closing on a house typically takes anywhere from 30-45 days? The first few days are spent negotiating the terms of the sale. After that, buyers often schedule a home inspection, after which a few more days are spent finalizing the purchase agreement. That all can take about a week to a week and a half. By the end of the second week, the mortgage application gets finished. The mortgage company will then schedule an appraisal, which can take another five days. After that, the buyer has to wait for the final loan approval and then the closing date. Altogether, you’re looking at a process that easily takes a month or more.
The Cash Buying Difference
If that sounds like a long time to spend on just one part of the process, that’s because it is. That’s what you get when you work with a lender though. By comparison, the cash buyer closing process is much faster. There isn’t a need for loan approvals, appraisals, or mortgage applications. It’s just a matter of negotiating the terms of the purchase agreement and closing. Because of this, cash buyers can close in as little as 7 days or at your convenience.
Benefits for Homeowners
Being able to close so fast can be a huge advantage for homeowners. It can reduce your chances of having to pay for two houses at once. You can get out of your home faster, or stay a little longer if you need to, thanks to being able to choose your closing date. If you’re in a pickle with your mortgage, you’ll be able to get out of it faster too.
Finding yourself in a situation where you need to sell your home fast can be stressful. After all, the whole process of selling a home from start to finish isn’t exactly known for its rapid pace as a general rule. Yet, that’s exactly what cash buyers are known for. If you need to sell your home fast without getting bogged down by a lengthy closing process, selling your house to Hapa Homebuyers for cash is the way to go!
Closing quickly isn’t the only way that selling your house to Hapa Homebuyers differs from selling your home with a local agent. Click here to see other key differences and how Hapa Homebuyers can help homeowners like you!