What To Expect In A Cash Home Sale Contract

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What To Expect In A Cash Home Sale Contract

1 December 2021
 Categories: Real Estate, Blog

If you are tossing around the idea of selling your home for cash, you might have a few questions about the process. When you decide to sell a house, it is important to find out the answers to all your questions before going through with it. Selling a home for cash is a process that is not the same as selling a house through a real estate agent. So, you might wonder what you should expect from the home sale contract. Here are several things to know about cash home sale contracts.

The Offer Will Not Have Any Contingencies

The first thing to realize with a cash home sale is that the offer will not contain any contingencies. When you sell your house through a traditional method involving a real estate agent, your offer might contain a lot of contingencies. Each contingency is a request or condition that the buyer has that must be met before the deal can go through. Fortunately, cash home sales do not include contingencies. The offers are very basic, and the amount you see as the offer is the amount you get.

You Will Not Need Any Inspections or Services Before Closing

Because the offer will not contain contingencies, you will not need any inspections or services before closing. The cash buyer will not wait to see what the title work contains. They will not need to hire an appraiser for the home or any other professionals. They take the house as-is, which eliminates the need for these things.

You Will Not Pay a Commission for the Sale

As mentioned, you receive the full offer amount, primarily because you do not pay for repairs, work, services, or real estate commissions. The only thing you are responsible for is your loan balance. You keep the rest of the money.

The Contract Will State the Timeframe

The last thing to look at when examining the offer is the timeframe. The offer will tell you how long it will take to close on the house, and it might include a date. You must know this date, as it tells you when you must close the deal and vacate the property you are selling. 

These are the main things to know if you want to sell your house for cash. Are you ready to ask for an offer? If so, contact a cash home buyer in your city to request one.

For more information, reach out to a company such as We Buy Houses MN LLC

About Me
Talking About Real Estate Finances

Welcome to my website about real estate finances. My name is Reina. I would like to talk to you all about the financial aspect of buying, selling and renting real estate. I will share tips and tricks you can use to keep your finances in check, even when the market feels unstable or you have to dip into your savings for yet another repair. I will also discuss the pros and cons of hiring a property management company to assist you in the renting process. I hope you will follow along and learn all you can about managing your real estate finances. Thanks for visiting.