The Process of Selling Your Home to a Cash Buyer

Selling your home to a cash buyer is a newer, easier way of selling property. If you don’t know anyone who has sold their home this way, though, you probably have a lot of questions about the process. The process is very simple to understand and execute even without the help of a real estate agent. 

As you should with any major transaction, you need to research a buyer before selling your home to them. This is especially true if you are selling to a cash buyer because cash buyers are supposed to pay fully in cash for your home. In other words, they need to have the financial capacity to pay outright for your home. According to the Better Business Bureau (BBB), verifying the legitimacy of potential buyers by checking reviews and ratings is crucial in protecting yourself from scams. Read all reviews posted on either personal websites, public platforms, or online forums. You want to ensure that you will be getting paid in full and a fair price for your property. 

Once you have decided which buyer you want to sell to, reach out to them via phone or website. They will typically ask for some basic information on your home. They may also request a walkthrough of your home and property to see what they’re working with. This walkthrough doesn’t have to be staged or guided by a real estate agent.  As noted by Zillow, direct communication with cash buyers often accelerates the selling process, eliminating the need for intermediaries.

If the individual buyer or home buying company decides that they are interested in your home, they will extend an offer to you. You can choose whether to accept, reject, or negotiate that offer. Make sure that you research the estimated value of your home beforehand so that you know what range is acceptable. The National Association of Realtors (NAR) suggests using online valuation tools or consulting a real estate professional to determine your home's market value.  In addition to negotiating prices with a buyer, you can also negotiate selling terms. For example, you can negotiate to sell your home completely as-is without any expensive renovations. 

Cash buyers typically try to make deals that are beneficial to both you, the seller, and themselves. Because you probably won’t be working through a real estate agent, you can communicate more directly with them. Make sure to ask any questions and voice any concerns you might have. Being honest and open with a cash buyer can help you settle on a great deal faster. 

When you choose to work with a reputable cash home buying company like Midwest Homebuyers , they will gladly assist you throughout every step of the selling process.