The traditional way to sell a home is to list it
with a well-known, local, real estate agency. However, there are
other ways as well. Some owners attempt to sell the house by
themselves, while others turn to cash buyers.
Selling a house is a complicated procedure.
Several parties, other than the owner and buyer, become involved.
These other parties include the realtor, the bank or mortgage
company, the escrow company, and attorneys. This is not the case when
you sell the house for cash. When you opt to deal with property
investors who say, “We
buy homes in Birmingham,” the process is far simpler.
Rather than deal with many parties, the only people involved are you
and the cash buyer. There is far less paperwork involved, and what
there is, is taken care of by the buyer.
What Is an All-Cash House Sale?
The term “all cash” is a misnomer. It is
illegal in the US to close a house sale using cash. The term “all
cash” is used frequently, but it means the property was purchased
outright, without the need for external financing. Once the
transaction has been completed, the funds are transferred to the
seller from the buyer via electronic transfer or a cashier’s check.
- Financed house purchase: It is not unusual for a transaction involving a mortgage to take upwards of 30 days. This timeline is one that is usually set by the lender, the seller, and the buyer.
- All-Cash Purchase: There are no intermediates involved when the house is purchased for cash. The time to close the sale is far shorter. A cash sale can often close within a week.
When you agree to sell to a company that states,
“We buy homes in Birmingham,” you can expect them to handle the
transaction, including all documentation.
For more information visit us at Birmingham Homebuyers LLC.