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A step by step guide to selling your house for cash

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Jake
A step by step guide to selling your house for cash

When you've decided to sell your home, you could either choose to sell to a mortgage buyer, loan buyer, or cash buyer. Compared to the mortgage and loan buyer, the selling is much simpler in the case of a cash buyer.

A cash buyer is someone who funds the payment for a house with funds not backed by a loan or mortgage. Most times, when people are pretty eager about selling their home, a cash buyer is a fast option they go for.

If you'd like to sell your house to a Cash buyer, here are the few steps you need to take

1.  Find a cash buyer

The first step is to find a cash buyer. You could do this through friends and family or hire a solicitor or a real estate agent to find one. Also, if you have seen an ad by a company in New Jersey saying, " We buy houses for cash in New Jersey, "these companies are called estate investment companies, and you could try selling your home to them.

2.  Sign a contract

After accepting the buyer's offer, a contract regarded as a purchase and sale agreement contract should be signed.

3.  Verify your buyer's funds

If a group of people or company say," we buy houses in New Jersey," you shouldn't just believe them. The last thing you want is to experience your sales fall through at the last minute due to the inability of your buyer to keep up their end of the deal. To avoid this, you should ask your buyer for some money upfront which could range from 2-3 percent of the sales price. Also, you can ask for a bank statement from the buyer.

4.  Employ the services of a title and escrow company

A title and escrow company address all the paperwork needed during the transaction. It also ensures that no property liens on the house be sold. It facilitates the transfer of property ownership and provides everything goes smoothly.

You can either decide to employ the title and the escrow company, or your buyer can. Although, in the case of companies with the catchphrase, " we buy houses for cash in New Jersey," solicitors are always available to guarantee a smooth transaction.

5.  Finalize the deal

After reviewing all the necessary documents, it's time to close the deal and finalize the transaction. The cash buyer would pay, and you would transfer ownership of the property accordingly. Like the transactions involved when we buy houses in New Jersey, this transaction shouldn't take long and is expected to be done quickly.

Conclusion

After closing the deal, you gave officially sold your house. Easy, right?. This way, you avoid the unnecessary stress of mortgage buyers and loan buyers while selling your home as quickly as possible. However, ensure that your solicitor is present to prevent any form of foul play that may happen during the transaction.

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