Avoid paying for repairs.
Whether you’ve got a job offer that requires relocating or you’re facing the possibility of foreclosure, selling your home for cash is a great way to sell quickly. You won’t have to spend time or money on repairs — the buyer will take care of this.
Simple process that doesn’t require loans or mortgages.
What happens during the cash buying process?
Wondering, “What should I expect if I sell my house fast in Las Vegas?” Here are the steps.
1. Sign the contract.
The first step is to complete and sign a Purchase and Sale Agreement, which simply means you’re ready to begin the formal process.
2. Obtain proof of funds.
You’ll need to make sure the cash buyer actually has the funds to make the purchase before you start paying selling costs. Your real estate agent will take care of requesting proof of funds, typically by asking the buyer to provide bank or investment statements. You will also need to receive money from the buyer upfront, usually 1% to 2% of the sales price.
3. Hire title and escrow companies.
Depending on which state you’re in, either you or the buyer will need to hire title and escrow companies. A title company is responsible for ensuring property lines are drawn correctly and will check for outstanding liens. The escrow company will manage all closing documents, oversee the transfer of funds, and handle the legal paperwork recording the sale. You may choose to work with a company that handles both title and escrow tasks.
4. Pass the home inspection.
Cash buyers frequently submit their offer with an inspection contingency. This means they will cover the costs of the inspection and retain the option to request repairs or renegotiate the sale price depending on the inspector’s findings. Once the inspection has been completed, you’re ready to close the deal.
5. Review and sign closing documents.
Even if you’ve accepted a cash offer, you’ll still need to sign a mountain of paperwork.
Final closing instructions
HUD-1 settlement statement
Certificate of title
Loan payoff statement
Bill of sale
Statement of closing costs
Statement of information
If you’re thinking, “I’m ready to sell my house fast in Las Vegas,” give Fast Free Home Offer a call to get started on selling your home!