Selling your home for a fair cash offer is not as always easy as it seems, but it is also not impossible. There are some things you need to know before you can sell your Houston home with confidence for a fair cash offer. Here are some things that you need know that will help you weed out offers:
- Be very aware of what your financial obligations are and know the minimum amount that you can accept without losing money. No legitimate home buyer will ask you to lose money on the Houston home you are trying to sell. It is up to you to know and understand how much you will need to get in order to walk away with a profit. Make sure you have your most recent mortgage statement handy, and any other financial documents such as second mortgages, home equity loans, liens, etc…so that you have a full picture of what you can accept without it costing you big time in the end.
- Do your due diligence when dealing with any person or entity that offers to buy your house for cash. What kind of history do they have? Ask for references. Legitimate home buyers should have a successful background full of satisfied home sellers that would gladly recommend them. You can also check with the Better Business Bureau and local licensing authorities to see if there have been any complaints filed against them for predatory actions. Additionally you may request for a “Proof of Funds” letter from known financial institution to ensure that the business you are selling to has the funds in place to buy your house for cash. If there are complaints, a lack of references, and/or they refuse to provide a “Proof of Funds” letter these are all red flags. If you see red flags the chances of you getting a fair cash offer and it actually materializing are slim.
- Be ready to move. If you have done your research and feel confident that your seller is legitimate, then be prepared to move quickly. Since you know you want to move you should go ahead and get rid of all the extra stuff you don’t need, and consider getting a storage unit to hold a majority of your belongings. The more legitimate the buyer is generally the faster they will be able to close, which is highly desirable to both parties.
- A genuine home buyer is knowledgeable about all aspects of real estate and will gladly share with you any pertinent information regarding their offer to you. Look for transparency when choosing who you sell your Houston home too. Contract language can be simple or very complicated and it is up to you to know and comprehend what it contains. If you are unsure ask a professional to help you evaluate the contract for language that could turn out to be detrimental for you. If the offer seems too good to be true then it probably is.
- Ask for a non-refundable deposit due at the time the contract is agreed upon and ratified. Legitimate home buyers have cash, and will agree to stipulations such as these because they are 110% confident that they can successfully close on your house. If you execute a contract with someone that is unwilling or unable to give you a deposit there is a need for concern about the validity of their offer. By signing on the dotted the line and coming to terms with them it could be too late later down the road to change your mind, so be totally sure that this is the agreement you wish to make before signing any type of contract.