Everett, like many parts of the country, is seeing more and more cash home sales. Why? This strategy provides an easy solution for home sellers to get out of the traditional home sales method, which often ends up falling through due to financing. Further, cash offers may appeal to a homeowner because it likely means the home buyer can close faster. In a competitive housing market for most of the around Everett, being able to close the fastest may be an extremely appealing offer — and that’s why it’s so important to understand closing times.
Closing times for both a home seller and a home buyer are often an extremely critical point of the home sales process. Traditional routes often put potential homeowners through a gauntlet of disappointment and “hurry up and wait” routines, all in order to be approved for an often terrifying 30- (or more!) year mortgage. In addition to the end of the home sales process, a more traditional route will involve a mortgage process, salary caps, and questioning everything about everything — oh, and don’t forget, the initial required inspection and the hundreds or thousands of dollars for insurance. Closing deals with financing often gets stuck in inspection, insurance, and a plethora of other possible causes. Cash home sales mitigate almost all of these possible problems, getting a home seller up and out within a few weeks and on to their next project or home.
While we’re on the subject: I haven’t even mentioned We Buy House As Is. We Buy House As Is — the mantra of our company at We Buy House! This simple financing/home offer solution consists of a quick and easy yes or no. High closing costs and slow closing times getting you down? Try We Buy House As Is. In need of the fastest home sales solution to get on with YOUR life? You guess it: We Buy House As Is. Requesting a cash offer is the simplest, easiest home sales solution (by far). Trust the We Buy House team — cash home sales are the up-and-coming home sales solution explaining the next-gen housing market.
What Are Cash Home Sales?
Cash home sales mean just what they sound like: a transaction in which a buyer purchases a property outright without the need to finance (i.e., they buy the house without a mortgage).
Which is strange, in a way, because most sales are financed, right? Buyers are given a loan to purchase a house, and then they pay back that loan (usually with interest) over a set period.
But yes, for the seller, the process sort of ends up being the same: they have no loan. Just a simple exchange of payment for the deed in this case.
If you, as a seller, are looking to sell homes this way, you can enjoy a few benefits.
For one, the speed: these sorts of transactions close way—way—faster than others because there’s no need to get a loan through. Without millions of documents to have approved through a lengthy underwriting process, a cash sale will be a slam. Close the deal in a few days (instead of maybe weeks; maybe more).
Another advantage is that typically there are fewer contingencies: these buyers are ready! Most of these cash buyers tend to be investors looking to get something done, so you will rarely have any issues with contingencies. They want the place, and they’re going to get it. These quick, more streamlined transactions will feel much better to sellers, and that in and of itself will feel more lucrative.
And also, who knows: it’s a different market! Not having to compete with millions of other sellers is in itself a huge stress relief.
Average Closing Times for Cash Home Sales in Everett
The average closing times for cash home sales in Everett, and really anywhere, are much less compared to traditional home sales. Traditional sales can take 30 to 60+ days due to having to deal with financing contingencies, inspections, and then the bank’s appraisal of the house, etc. Cash transactions are very efficient and can close as soon as 7 to 14 days, which is nice for someone looking to sell a house fast and for a home buyer who wants to lock down a property.
The condition of the property you’re selling will have a big impact. If your home is quite old and it hasn’t been maintained, there’s a chance it will make the property title “dirty”. You can clean the title by requesting the repair necessities. Buyers of older homes should always be aware of property history to avoid purchasing a “dirty” titled home.
Depending on where the cash is, it could take a while for it to be properly transferred. I’m referring to cases in which the cash is still in “business cash” form due to the sale of some kind of small business.
Factors Influencing Closing Times
Local Everett real estate market conditions greatly dictate the closing process of a home sale. If it is a seller’s market (meaning demand exceeds supply), then buyers will be more motivated to close quickly. No one will want to draw out their closing process if they are worried about losing out on a property that they really love. In a buyer’s market, it may take much longer to close on a home because it will take that much longer for a buyer to even enter the picture. Throughout all this, both buyers and sellers need to be aware of what is a fast closing based on the kind of market that they are in (as well as what everyone else is involved in their home sale) so that they can then adjust their expectations about their potential home closing time accordingly. It is their job to adjust everyone else’s expectations.
In the closing race, there is the standoff between people who freely use real estate agents (because they reduce the paperwork themselves and normally drive the negotiations that eventually close the process) and those who cannot turn down an offer from a cash buyer (because they probably do not need any money back to their bank than what’s minimally required). The cash buyer already has the money needed for a home (or whatever the negotiated amount is) in their possession right now. With money in their pockets, they can give sellers this money right now–as opposed to saying something like, “I can give you this much money through financing (plus this much per month for these many years)” (which is the case with conventional loans).
The last three points are all about things to keep in mind while preparing for your own closing. Make sure that the title is clear and the inspections go smoothly so that once you have a buyer or a property that you like, you will then know that these are conditions of the property that will help in bringing a successful closing to an end.
The Home Buying Process for Cash Sales
Generally, the process for a cash sale is much simpler than trying to obtain traditional finance. Initially, you would make an offer on a property, but unlike a financed property, you can usually provide a much more attractive offer to the seller. This offer can most likely be the full asking price, and in some markets, the speed at which you can present an offer will be a necessity.
After having your offer entered and considered, the next phase will then be due diligence. This step includes your inspection and appraisals, but again, you will have the freedom of opting to expedite the entire process by not having to conduct inspections. Of course, appraisals can be passed on as well without traditional lending, and you can bypass and decide on the timeliness of your investment yourself. And just like the preceding steps, there is no traditional financing to worry about here, either.
Lastly, for the most part, the closing process is fluid and quick. There simply would be no need for a loan, and the number of persons involved in the processing of a real estate loan would also be subtracted from this equation. The closing can now occur quickly, within a week or two to be precise, as the previous tedious process of reviewing the loan documents becomes irrelevant. This step alleviates the bothersome stress that the previous step can induce. The simplified experience from offer to closing is one fact that so many buyers are attracted to.
Why Choose We Buy House As Is?
“SELL YOUR HOUSE AS IS, LEAVE THE REPAIRS TO US!” I saw that headline on a postcard and said yes I sure will!! It’s beyond hard to put your house on the market when you know there are repairs and renovations that need to be done. I did not want to go through that process whatsoever. Company name: We Buy House As Is. Right away I saw the value because they were buying the property As Is, so I did not have to pluck down money I did not have to repair this property. I’m no longer going to be the owner; The NEW owner can do whatever they want to do! That was a huge pro for me!
· They told me the process along the way and how everything would work out (another Pro).
· Sold in a week and super easy. I didn’t have to meet or schmooze with buyers. They bought it in cash (Even HORRIFIC credit won’t stop the process (another Pro)).
· Now repairing credit (Learn how I destroyed my credit here).
· GREAT customer service! The owner answered all of my questions and left no room for doubt (That’s a NO-BRAINER).
· The owner made himself available even AFTER I moved to discuss house-related matters.
I spoke with the owner regarding my move-out date and his team worked with me (TOTAL PRO!).
“The real estate market in Everett can be volatile, with average closing times ranging anywhere from a couple weeks to several months or longer. However, cash home sales in Everett are usually substantially quicker. When you sell your house for cash, it means that you are able to entirely avert the traditional financing process. This process includes things like awaiting appraisals and inspections, waiting for an application to be accepted by the bank, and so on. As a result, you also negate the stress that often comes with selling a house.
In similar fashion, many of the contingencies that come with financed offers are also cut from the process. This is a major draw for many sellers to begin with, as the risk of the deal falling through is also, in essence, reduced. In other words, after you accept a cash offer on your house, there’s a good chance that the deal will go through without a hitch.
And furthermore, like the former point, many cash sales often stipulate as-is sales—meaning—the seller may not be required to make any repairs or replace any appliances before selling the house in the first place. This is definitely something to consider if you are looking to sell quickly.
Selling a house for cash in Everett can be a much simpler process. We Buy House As Is provides an avenue for homeowners interested in selling their house for a cash-based sale. Through this method, homeowners can request to sell their home as is, no questions asked. Using an online-based tool, a bid can be put in, allowing us to relay a fair price back to the seller in question. And from there, homeowners may find that they are all set and able to move forward without the usual measures of legwork and paperwork attached.
To get in touch with a member of our team today, dial +1 206-291-6117. To learn more about We Buy House As Is, visit our website at the following link: [Insert website URL]. More information is available for those inquiring, and less is nonexistent for anyone else. Jump-start your cash-based home sale today, and take the first step onto smoother grounds.”