What Is the Process for Selling a House?
You’re ready to sell your home. But you’ve only experienced the sales process from the other side. What does it actually look like to sell a house? What are you going to need to go through, and how long is it going to take?
The “Traditional” Process of Selling a House
The traditional process of selling a house will take anywhere from three months to a year (or even longer). To sell a house traditionally, you would:
- Consult with a real estate agent. A real estate agent would help you price your home and determine what areas of your home need to be fixed up for buyers.
- Start repairs and maintenance. You will usually need to update your home to modern trends, repair issues such as foundation problems, and even replace or upgrade systems like water heaters and HVACs.
- Clean and empty your house. Staging your home and showing it requires that the property not look “lived in.” During this stage, many homeowners actually move out and into their next home.
- Setup showings and open houses. Your real estate agent will list your property, after which you’ll need to go through showings and open houses with prospective buyers. You will continue this process until you have an offer.
- Accept an offer. Once you have a satisfactory offer, you can accept it. At this point, some negotiations may come into play. The buyers, for instance, might want you to replace or fix certain things first.
- Get an appraisal and an inspection. Most home buyers aren’t going to purchase a house without a third-party appraisal and inspection, so they know exactly what they’re getting.
- Wait to close. Most buyers are using a mortgage broker, so they need to wait for the mortgage company to actually fund their loan. This usually takes anywhere from 30 to 45 days. However, it’s possible that they will get refused their funding, which will set you back to the setup-showings-and-open-houses stage.
- Go through escrow. The escrow company will usually do a title check as well to make sure that your property is free of any liens or any other restrictions.
- Get the wire transfer. Eventually, the bank will wire the escrow company money, they will wire you money, and you’ll be free to move on.
As you can see, the process is lengthy and laborious. Even if you do get a buyer within a few days, you’re going to find yourself waiting a long time for the loan to close, and it can fall through at any time. But luckily, the traditional method isn’t the only option.
Selling a House With a Cash Buyer
What if you don’t want to wait months on end to get your house sold? What if you don’t want to negotiate about price? What if you don’t have the money, time, or inclination to complete repairs and renovations on your property?
There’s still an answer.
Instead of selling a house on the open market, you can sell a house directly to a cash buyer. It’s a simple process:
- Schedule a walkthrough of your property. The cash buyer doesn’t need third-party appraisals or inspections.
- Get an offer. The offer will be based on your property as is. You aren’t going to need to do any repairs or renovations.
- Accept the offer. A cash buyer will be able to send you money right away, and won’t have to wait for a loan to close.
A traditional house-selling process can take months or even years. Selling to a cash buyer can be done in days, often under a week.
If you have a house that you need to sell, consider selling to a cash buyer. At Purple Mountain Holdings, we purchase Colorado Springs houses in any condition — no repairs or renovations needed. Whether your house is old, damaged, or just outdated, we’ve got you covered. We’ll give you the fair market value of your property, so you can move on. You don’t need to schedule any showings, and you don’t need to pay any expensive realtor fees.
It’s that easy.
Are you ready to schedule a walkthrough? Contact us today to find out more.