It happens for all kinds of reasons: a divorce, an inheritance, a job layoff, relocation, or perhaps your mortgage payments became too much to handle. Whatever the reason, you now find yourself in the position of needing to sell your house fast for cash in Baltimore.
At this point, you may want to market your house to people who will buy it with cash (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 the process go smoothly.
How to Sell your House Fast for Cash in Baltimore
In general, people buying a house for cash will want to make sure that some kind of Purchase & Sale Agreement is drawn up. Next, they are likely to have a title search completed in order to make sure that the title is clear with no liens or other encumbrances. And then they will want to know what kind of deed you are offering- a quitclaim deed, a warranty deed, or a special warranty deed.
If all the above things are in order, the cash buyer will make you an offer. A buyer offering cash will feel that they have more bargaining power because the sale doesn’t depend on a third-party loan and the inevitable waiting that comes with it. You can always make a counteroffer if their first offer doesn’t suit you.
If an offer is accepted, the person buying the house from you will then want to have an inspection completed and possibly an appraisal to make sure there are no huge problems and that the buyer is getting their money’s worth.
Since this is a cash deal, you and the buyer can set the closing date for a time that is convenient for both of you, usually much sooner with an all-cash deal. You simply show up at the title company to sign some documents and you leave with a cashier’s check in hand.
Here are 3 Steps you need take prior to selling your house for cash:
1. Price it Right
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 your price is too low, buyers may think that something is wrong with the house. On the other hand, a price that is too high may cause it to sit on the market for a long period. It pays to check out the comparable house values in the area and price your house accordingly.
2. Create Curb Appeal
This is what creates that critical first impression and gets a potential buyer to stop and come to the door or call to make an appointment. 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 – just some lawn clean-up and minor landscaping, perhaps a little roof repair, touching up paint, and dressing windows.
3. Add-in Deal Sweeteners
It always pays to sweeten the deal in order to make it more attractive to potential buyers. The tried-and-true principle of reciprocity tells us that people are willing to give more- in the way of price – if they feel they are getting something in return (like 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 to buy your house for cash, these tips and steps will help you to close a cash deal. But there is even more that you can do to get a better cash offer and expedite the sale. That’s where we come in … 🙂
Maryland Home Buyers can buy your house in Baltimore for cash and close on the date of your choice. If you decide that this is the best choice for you, then please contact us today.