sell-house-fast-cash-avoid-expensive-mistakes

I Sold My House Fast for Cash.
6 Mistakes I Was Lucky to Avoid

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!)

Table of Contents: 6 Cash House Sale Mistakes to Avoid

Mistake Number 1: Check House Value

The first mistake where you can lose a lot of money is when you research the value of your home.

Current market value is determined by comps. Are you being shown the facts?

What does it mean to run comps?

Can I run comps by myself for free?

How can I verify if the comps I am being shown are real?

Mistake Number 2: Is Contract Legit?

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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. 

Review the purchase agreement to make sure it is legitimate. Do you understand all the conditions of the sale?

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?

Mistake Number 3: Get Real Earnest Money

earnest-money-sell-house-fast-cash

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!

Earnest money gives the seller protection from the buyer walking away. How much is enough?

What is earnest money?

How much earnest money is enough?

When do you get to keep the earnest money?

Foreclosure

Mistake Number 4: Who is Really Buying?

Cash buyers range from local companies based in your city to national and international companies. It pays to know where your money is going.

Do you really know who is buying your house for cash? Local person or overseas investor?

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?

Mistake Number 5: Loosing Money During Inspection

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?

All cash buyers say they buy houses as-is but many use this tactic to beat you down on 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?

Mistake Number 6: Paying the Buyers Closing Costs

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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

Titel insurance, Property taxes, Surveys cost real money. Are you paying thousands more than you should?

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?

USEFUL Resources

Watson Buys pays cash for house, we buy houses as-is and we have great reviews.

  1. We show you legit and factual comps that are recent.
  2. Our purchase agreement is legally binding and…
    • We will spend as much time as you need reviewing all of the elements in the sales agreement. We also recommend that you speak to an attorney to make sure the deal is fair and legit
  3. We give you real earnest money so you know we will close on your house.
    • We will pay a sizeable amount of cash to the title company as earnest money. If we don’t fulfill our obligations in regards to buying your house then you get to keep all the cash! Most other companies will offer you $100 or less even so they can just walk away and not purchase your house leaving you stuck!
  4. Watson Buys will buy your house for cash.
    • We will not sell your house purchase agreement, or assign your house, to another investor unless you say it is ok. We buy houses for cash, we buy them as-is and then we renovate them and resell or rent them. We are professional real estate BUYERS. We buy houses!
  5. We use the home inspection to verify, not beat you up.
    • At Watson Buys we are ethical and transparent. When we give you a cash offer, contingent on inspection, the cash offer represents what your house is worth as you described it to us. If it is as you say it is then our cash offer will remain the same. We will not force the sales price down by making up things that need fixing and scaring you into the sale. 
  6. We will pay all the normal closing costs.
    • The team at Watson Buys does not try and trick you and range you out of your cash at the closing table.