Step-by-Step Guide to Sell Your House Direct for Cash

Selling your house might seem like a complicated process full of legalities and a table full of players. For one, there’s the real estate agent, the buyer’s real estate agent, a title company and lenders, just to name a few. When there are cash offers on the table, however, the whole process becomes simplified. 

With less parties involved and less paperwork, there’s even a lesser chance of the deal falling through—which means less of a headache for you. What’s more, cash deals can close in a mere week. Compare this to financed purchases where the buyer takes a mortgage out on the home, which can take anywhere from 45 to 60 days. 

How does one sell their house the easy way? Below is our step-by-step guide—the most simple, straightforward process to sell your house for cash.

Choosing a Cash Buyer

Fortunately for you, real estate is a competitive market with a lot of cash buyers to choose from. They’ll all provide cash offers and a quick close, so it’s important to find out what sets them apart to ensure you get the best deal. 

CashToday offers free credit repair, free local moving, and an optional cash advance up to $10,000. We connect you with a local house buyer who buys houses for cash.

Review the Offer 

Once an investor has presented you with an offer, the first step is to determine whether or not it’s a fair price. Cash offers provide convenience and time efficiency, but cash buyers often aim to pay below market value. 

Look at the surrounding properties in the area and see what they sold for, checking to make sure they’re of a similar size and caliber. After deducting the agent’s commission and the cost you think the benefits of a cash deal are worth, you should be able to make a fair judgement. If your house isn’t in as good of shape as the neighboring properties, deduct the amount it would take to update your house to that of your neighbors, the agent’s commission and investor profit (approximately 15%).

Sign the Contract

After accepting this cash offer, it’s time to go under contract by signing a Purchase and Sale Agreement (usually prepared by the buyer). The buyer may request a home inspection at this point and a price negotiation could ensue to incorporate any necessary repairs, but if it’s waived, the contract can close in as little as 7 days.

Verify Proof of Funds

In order to ensure your cash buyer has the money they’re offering, you ask for bank or investment statements, as well as money down upfront (typically 1-2% of purchase price). 

Hire Title and Escrow Companies

Chosen by either the buyer or seller, title and escrow companies help ensure the legal transfer of your house. While title companies ensure there’s no outstanding property liens (unpaid debts) that could prevent the sale and guarantee property lines are clearly distinguished, the escrow company manages all closing documents, the legal paperwork and transfer of funds.

What to Bring to Signing

Prepare for paperwork. Bring your government-issued ID, the deed to the house, keys, garage door remotes, codes to any keyless access points and a check to cover any extra costs (the escrow company should let you know if anything is owed). And your favorite pen!