You may be surprised by how quickly the selling process may take place after you choose to sell your house for cash. Typically, we’re used to the traditional home sales process and the timeline that follows. In 2018 alone, the average American home spent around 65 to 93 days on the market from listing to closing. For several reasons, you can expect the sales process to take much less time if you choose to work with cash home buyers.
For one thing, cash home buyers do not need to wait for a mortgage loan to come through. They buy houses with the full payment in-hand and are ready to move forward quickly. Furthermore, there are typically fewer negotiations involves when you sell your house for cash to a company that offers these kinds of payments. They’ll have a price set after assessing your house and you will then move forward with selecting a closing date. These buyers often buy houses as-is, which means that they won’t expect you to make any repairs before the sale, further speeding up the process.
While this can be a great thing if you need to sell your house fast, you may not have expected exactly how quickly the sale would go through — and therefore, how quickly you need to leave. Let’s explore a few of the ways that you can make your move easier as you sell your house for cash.
1. Sell What You Can
There are a lot of reasons why people choose to sell their houses for cash. But quite often, they do so because they need the money quickly. Often this is due to a home foreclosure or simply because they want to invest in their next adventure. Either way, moving is expensive and if you’d like to both save money and make more money, you may want to sell what you can before you move.
You can use websites like eBay to sell items like furniture and appliances online. Other sites like Craigslist make it easier for you to advertise locally, as you don’t need to pay to ship items and they can simply be picked up. Yard sales are great ways for you to sell your belongings quickly and for cash, as well. If you’re selling a home that you inherited from a relative, you may want to take everything that you want out of the house and then simply host an estate sale for all other items.
2. Move Independently
You don’t need to hire a moving company to help you relocate. Moving companies can actually be rather expensive and often unnecessary, especially if you’re moving to a new place within the same town. Instead, you can enlist family and friends to help you pack and independently. It’s easy to pick up boxes and other packing items you might need from local grocery or liquor stores.
A further option to consider is renting a moving truck. Whether or not you need one is going to depend on how much furniture you’re bringing with you. You may be able to rent a smaller (and less expensive) truck if you decide to sell some of your belongings beforehand.
3. Search for Housing Immediately
It’s ideal for you to be prepared when you move with a new house or apartment lined up. But when you sell your house for cash, it’s entirely possible that you’ll be waiting for your cash payment to come through before you buy a new house. Everyone’s timeline is different.
Nonetheless, you need to be searching as soon as you know that you’re selling your home. At the minimum, this will let you know what you should anticipate paying. In the meantime, if you can stay with a friend or family member, you may be able to save money. There are also extended-stay hotels available that will offer affordable rates for those who need to stay elsewhere for an extended period of time.
There are a lot of issues that you should consider as you sell your house for cash. Fortunately, the technical aspects are often more in the buyer’s hands and you can ask them questions about the process. But remember: when moving quickly, try to save money and pack lightly.