It happens for all kinds of reasons: divorce, job layoff or relocation, or mortgage payments just becoming too much to handle. Whatever the reason, you are now in the position of needing to sell your house fast for cash in Connecticut.
You need, then, to market your house to people for whom buying a house with cash is the actual goal (not just tire kickers), get them in the door, and then close the deal. Understanding the process and knowing how to get your house ready for sale may help.
How To Sell Your House Fast For Cash in Connecticut
Title/Deed
Generally, after locating a solid possibility, people buying a house for cash will want to make sure some kind of purchase-and-sale agreement has been drawn up. Next, they are likely to conduct a title search to make sure the title is clear, with no liens or other encumbrances. And then they will want to know what kind of deed you are offering, for example, quit claim, warranty, or special warranty.
Offer
If all these things are in order, the cash buyer will make an offer. A buyer offering cash will feel she has more bargaining power because the sale doesn’t depend on a third-party loan and the inevitable wait. You can always make a counteroffer if the first offer doesn’t suit you. Negotiations are always a possibility so that both sides feel good about the transaction.
Inspection/Appraisal
If an offer is accepted, the person buying a house from you may want an inspection and possibly an appraisal done to make sure there are no huge problems and that she is getting her money’s worth. But cash buyers don’t always do this. Most cash buyers have trusted contractors they work with who will walk through the property themselves to figure out what repairs will need to be done once they buy the house. Most cash buyers will not require an appraisal either because they are well versed in the real estate markets they buy in and typically have a very good sense of how much the house is worth. Skipping these steps helps the process go far more smoothly and quickly!!
Close
Since this is a cash deal, you and the buyer can set the closing date for a time convenient for both of you, usually much sooner with a cash deal. You simply show up at a notary’s office with pen and cashier’s check in hand. Not having to wait for a mortgage approval for the buyer is a HUGE time saver in setting up a closing date. Most times, it’s simply trying to coordinate schedules with the attorneys invovled.
Here are some steps you need take before attempting to sell your house for cash.
Price
Pricing your house right is probably the best step you can take toward making a fast sale for cash because it’s what gets people to consider your house in the first place. If you price too low, buyers will think something is wrong with the house, and a too-high price may make it sit unsold for a long period with the same result. It pays, then, to check out comparable house values in the area and price accordingly. If you know what you want or need out of the sale, then you can simply contact cash buyers and let them know what that price is. They can do their due dilligence and let you know if that price works or not.
Curb Appeal
This is what creates that critical first impression and gets them to stop and come in the door. So sprucing up the yard and the house’s exterior are definitely worth the time and expense involved. And it doesn’t take a lot, really – maybe just some lawn clean-up and minor landscaping, a little roof repair, touching up paint, and dressing windows. But if you are looking to sell to an investor cash buyer, then these upkeeps and expenses are not necessary as the investor will take care of these items on their own.
Deal Sweeteners
It always pays to sweeten the deal to make it more attractive for buyers. The tried-and-true principle of reciprocity tells us that people are willing to give more (sale price) if they feel they are getting something in return (the deal sweeteners). For example, you could offer to pay some or all of the closing costs, or you could offer to provide a transferable home warranty, which would cover, say, major appliances and/or the HVAC systems.
If you need to sell your house fast and are looking for someone buying your house, these tips and steps will help you close a cash deal. But there’s, even more, you can do to get a better cash offer and expedite the sale.