6 costly mistakes you must avoid when you sell your house fast for cash.
1 + 1 = 3? Wait. Is that what the picture above showed? That’s definitely a mistake! Not all mistakes are that easy to spot.
When selling a house there are so many moving pieces and so much cash is at stake. It’s easy to miss something and if you do that could cost you a lot of money.
Therefore when you are selling your house you absolutely cannot afford to make one, right?
WHO AM I?
I recently sold my house for cash and luckily I worked with a legit transparent company. They gave me a fair cash price, were honest, and overall nice people. However in hindsight it could have been much different!!! Today I will tell you 6 things to be on the look out for when selling fast for cash.
Avoid these mistakes to save thousands!
Don’t miss mistake number 6!!! It is a real huge one (and the most common!)
The first mistake where you can lose a lot of money is when you research the value of your home.
What does it mean to run comps?
How can I verify if the comps I am being shown are real?
A purchase agreement, or real estate sales contract, lays out all the terms of the sale. This includes the cash sales price, closing date, closing costs, and more.
What is a purchase agreement?
What do I have to pay on the purchase agreement?
Can I change the purchase agreement?
Is the purchase agreement legally binding?
When selling your house you need to make sure the buyer is intent on closing. They must place earnest money with the Title Company. If they walk away you could lose it all!
What is earnest money?
How much earnest money is enough?
When do you get to keep the earnest money?
Cash buyers range from local companies based in your city to national and international companies. It pays to know where your money is going.
Is it important to know who you are selling your house to?
What’s the difference between a local cash home buyer and a national company?
Who can close faster?
Will, a local company give me a better cash offer than a non-local company?
A house inspection identifies all the issues with your house. While the buyer will purchase your house as-is do they get an unfair advantage during the inspection?
How much more should you discount your house when selling for cash?
Is the inspection a legit time for a cash buyer to renegotiate the sales price?
When should you walk away during the inspection negotiations to a real estate investor?
Closing costs, including property taxes owed, can add up to the thousands. You can ask the cash buyer to pay them all. One huge mistake is that sellers often pay all the buyers closing costs and lose out on a lot of cash in the process
What are normal closing costs during a cash sale?
Who should pay the closing costs in a cash sale?
Should I pay my property taxes when I sell my house fast for cash?