Joe Ruben

Should I Sell My House? – 9 Reasons You May Need to Sell It

should i sell my house

The average homeowner only spends six years in their home. Homeowners are no longer paying off their mortgage and staying in their home for 40 or 50 years — they don’t raise their family in one home and retire in the same place.

Why is that? Well, there are many different reasons.

If you buy a house and have to dip after only a few years, don’t feel bad. But you should know some legitimate reasons for selling your home, especially if you’re selling it years before your mortgage is completed.

Are you asking yourself, “should I sell my house?” Here are 10 common reasons to respond with a “yes.”

1. You Ended Up Hating Your House

One of the simplest and most common reasons for selling a home is you ended up hating your home.

Maybe you settled for a lower price, only to find you got what you paid for. Maybe you purchased your home that sits on a busy street or you’re stuck with some noisy neighbors.

Many homeowners try and tough it out. But if you’re unhappiness is affecting your health and you can get a good return on your home, save your sanity and sell your home.

2. Your Home Is Too Small

Many life changes can happen after you buy a home. You have kids, maybe a family member needs to move in, or you decide you need extra space that you don’t have. If your current home can’t accommodate the space you need, it’s time to upgrade.

This is a common situation that occurs with first-time homeowners. They settle on a cheaper and smaller home because they don’t think they need the extra space.

When life changes occur, they wished they forked over more cash and bought a larger house.

3. Homeowners Come Into More Money

This is also an issue that first-time homeowners experience. As mentioned previously, many first-time buyers settle for a cheaper home.

As you advance in your career, you’ll inevitably walk into more money. You may decide to upgrade to a larger and more expensive home.

If you already paid off your home, this decision is almost a no-brainer. But if you still have years left of mortgage payments to go, you can still sell your current home for a more luxurious one.

4. Change in Your Neighborhood

Neighborhoods change. An area that was once safe with the best schools and jobs in the county can go south several years later. If a once thriving area now makes you fear for your life, it’s time to pack up and move.

This is also an issue many homeowners are facing because of gentrification.

Homeowners who move to a hip and thriving area didn’t realize it was previously home to violence — and rising housing costs didn’t drive these people away.

5. Needs Too Much Maintenance

As homes age, they lose their power. Their roof becomes weak, the windows and doors are less insulated, the gutters need to be replaced, there are foundation issues and other common repairs or replacements need to be done.

Even if no serious repairs are required, some homes are old and outdated.

All of these repairs and redesigns cost money. Many homeowners decide they can save money by selling their home to a house flipper and use the money to buy a new home.

6. Move for Family Reasons

Maybe you had kids and want to move to a child-friendly area. Maybe your kids left the nest, moved out, and you want to be closer to them. Maybe a relative isn’t doing well and you want to be closer to them.

Or maybe, you don’t want to be near family at all.

Family reasons is a common reason to move out of a home early. The old saying is true — family comes first. No matter how many more mortgage payments you have left.

7. New Job

Even though the future of the workforce is remote work, there’s a chance you’ll have to relocate for a new and better job. If the position is too good to pass up, selling your current home is worth the sacrifice.

What if you didn’t get a new job, but live a little far from your current one? Work commutes are always stressful. If you can avoid rush hour traffic, don’t be afraid to sell your home and move closer to the office.

8. Different Priorities

Many people buy a home because that’s what they want at that moment. After a few years of home ownership, some people realize they have other priorities in life.

Some people don’t like the kind of responsibility that homeownership brings. They would rather rent or find another way to have a roof over their head.

Others decide to drop everything and pursue a hobby. This includes changing their lifestyle or even to travel and live on the open road.

9. Changes in Relationships

Every couple looks forward to buying a home together. This is what millennials are doing now. However, relationships are shorter and shorter with each generation.

The average millennial relationship lasts four years. And don’t think tying the knot will keep you two together. The average marriage today only lasts seven years.

If you and a partner are no longer together, don’t suffer under the same roof.

While usually only one partner leaves, don’t be surprised if you can’t take the burden of paying for the house yourself. Maybe you want to leave and start over.

Should I Sell My House? Here Are Your Options

Whether the kids moved out or you have new priorities in life, certain life events call for a home sale. Are you wondering, “should I sell my house?” If you fall under any of these reasons, selling your house is a good idea.

Are you not having luck selling your home? We offer cash for homes. Click here and see how it works.

5 Big (Apple) Tips for Selling Your NYC Apartment

NYC apartment

If you have an NYC apartment, you have one of the most valuable commodities anyone can ask for. For some people, a place to live in NYC is more valuable than gold. If you live in the city, then you’re at the center of a worldwide hub of intrigue and activity.

If you live in NYC, you live in the de facto capital of the world. Everyone wants a piece of it, and that means no matter the state of your apartment, it’s valuable to someone. That doesn’t mean you shouldn’t try to spruce it up if you’re considering putting your home on the market!

You can already make a lot of money by selling your home as it is. Yet, if you take a few simple steps to make your NYC apartment look better, you can profit even more. There is no such thing as charity in NYC, so think like a realtor and be sure to make the most you can off your apartment!

Keep reading below to learn how you maximize the profits off of your NYC apartment, with just a few simple tips!

1. Everyone Wants an NYC Apartment

The most important thing to remember about your NYC apartment is that everyone wants it. Over 62 million tourists visit the city every year, and each one leaves enchanted. They all dream about what it would be like to live in the city, and some would be willing to pay to find out.

The city is filled with too much opportunity to pass up. There’s a reason so many artists turn to NYC for inspiration; it’s where people go to believe more in themselves and in the world. The city bodes a challenge to all that live in it: if you can make it in New York, you can make it anywhere, after all.

2. Not Everyone Can Afford an NYC Apartment

Even if everybody wants to buy an NYC apartment, not everybody can afford one. The market in the city simply prices people out — it’s $5,000 per month just o rent a three bedroom apartment. Purchasing an apartment can cost a person millions of dollars.

If you’re trying to sell an NYC apartment, you should know the kind of person you’re targeting. The people that purchase NYC apartments are usually affluent, with elite and professional jobs. Some prospective buyers may not even consider your apartment to live in. Instead, they may just want to find a vacation apartment.

That means you should target your apartment to people who want to live in the lap of luxury. Decorate your apartment to make it look decadent and divine at the same time. You’re not selling to an average home buyer — you’re selling to someone who wants the thrills of the city.

3. Your View is a Work of Art

One of the most important parts of buying a new apartment is the view. It’s what your buyers will have to see every time they wake up in the morning, and the last thing they see before going to bed. Your apartment’s views set the tone for the whole room.

So make sure to frame it like a piece of art. When you’re preparing photos for your apartment’s listing, be sure the view is more than just visible. Take the picture during the time of the day when you think the view is the most beautiful. Edit the colors as you need to really make the room shine.

Most of all, you should frame your apartment’s views. This may mean simply draping it with appropriate blinds or adding complimentary knick-knacks to the railing. Yet, it can also mean catching a view at the right angle or going so far as to install windows that help make the view pop.

4. It’s at the Center of the World

If you spend your whole life in NYC, you may not realize how special the city is. New York City isn’t glamorized throughout the whole world without a reason. It’s the center of the world’s economy, and it’s where a seeming nobody can turn into a star right before your very eyes.

Make sure to advertise your location when you sell your apartment. Make a note of nearby attractions, diners, parks, and anything else. Let potential buyers know about the hidden, secret place you like to spend your time near your home.

It’ll do more than just sell the neighborhood and the apartment at the same time. By speaking with potential buyers about nearby amenities, and your personal favorites, you establish a rapport with them. That rapport can turn into trust, which can easily turn into a sale.

5. Time Your Sale Right, Or Miss Out

As with any other kind of market, the New York City real estate market is constantly fluctuating. The value of different homes and types of properties may not be the same in a month as it is today. Try to sell at a time when people emerge from their homes and fill the city with life.

The buzz of activity around your apartment will add value to it. This usually peaks around two weeks into May, when students start moving, families start looking for homes, and tourists fill the streets. By trying to sell your home during mid-May, you do more than just make more money.

You also sell it faster. Buyers understand that they’re competing with each other to land an apartment. If they see many other potential buyers flocking to the same place, they’ll feel the heat of healthy competition. It’ll make them more likely to jump on your apartment and make an offer.

NYC a Great Place to Visit, and to Live

New York City is a place abuzz with business and people; it’s where people go to live their lives to the fullest. That makes more than just a beautiful spot for tourists to flock during the summer. It also makes it the perfect spot to make a profit, using the right expertise.

You can’t just sell your NYC apartment as you would anywhere else. The city is special, and so your apartment is special too. It takes an expert to properly prepare it for buyers and to close a sale.

Contact us if you’re interested in selling your NYC apartment, and we’ll discuss the many things we can do for you. After all, nobody knows New York like New Yorkers.

Selling a Home: How Long Does It Take to Sell a House?

You can picture it now – a big bold SOLD sticker pasted over the FOR SALE sign in your front yard. You need to sell your house. You want to sell your house. So how long does it take to sell a house?

If you live in New York City, your house could be on the market for over 135 days if you use the traditional selling process. NYC is one of the markets where houses sell the slowest. On Long Island, New York, nearly 77 percent of houses were on the market for over a month in April of this year.

The good news – there are other ways to sell your house in a much shorter time. If you live in one of these areas where the average days on the market doesn’t fit your timeline – check out your options. You may be able to sell your home in 30 days. Besides the market where you live, other factors impact the average time to sell a house in that market. Let’s take a look at five different variables that will determine the number of days that a house is on the market.

Listing Price

The most important factor in selling your home is the asking price. And there are different factors that affect the asking price. A home that potential buyers perceive as a good value for the money will sell quickly. A home perceived to be priced over its value will not.

Your home is valuable to you. You’ve made great memories there. You’ve lovingly cared for your home over the years. You’re a proud do-it-yourselfer and customized your home to your unique tastes.

Why wouldn’t potential buyers see the same value in your house as you?

Psychologists describe this belief as the endowment effect – we think our stuff is more special than other peoples’ stuff. Sellers often think their property is far more special than buyers do.

Here is an analogy. You believe your kid or your dog is the absolute best kid or dog in the world. When someone else doesn’t see what you see, it can be disappointing. Right?

This will sound harsh, but…get over it. The price of your home is not determined by how you feel about your home. Some of the key factors that drive pricing on houses are:

  • A historical sales price or what your house has sold for in the past
  • Comparison sales or houses recently sold in your market that are like your house
  • Inventory or the number of houses available in your market

If selling your house is stressful, pricing your house might be the most stressful aspect of the selling process.

Market Conditions

Are you in a seller’s market or buyer’s market?

A seller’s market is when the demand for a particular product or service is higher than the supply. If you’re selling your house, this might be the ideal time to sell.

You know you’re in a seller’s market if:

  • High demand from buyers
  • Few houses on the market so not much competition
  • Rising housing prices
  • Multiple offers on a house
  • Buyers more willing to compromise on contingencies

A buyer’s market is when there is more supply than demand. In the housing market, that means there are more houses on the market than there are buyers. This gives buyers more power to negotiate price.

If you’re in the market to buy a house, this might be the right time to buy. You know you are in a buyer’s market if:

  • Low demand from buyers
  • Many houses on the market
  • Pricing reductions
  • Slow sales and short sales
  • Seller’s more willing to compromise on contingencies

2019 is predicted to be a buyer’s market even though a lender’s mortgage rates are at their highest level since 2011.


When you bought your house, you probably had a particular neighborhood or city in mind. One of the first things a real estate agent will ask a buyer is where they want to buy a house. Some important aspects of a house’s location are its proximity to:

  • Work – how long will the commute be for the potential buyer?
  • Desirable shopping – banks, grocery stores, gas stations, restaurants
  • Cultural centers and parks
  • Good schools – whether or not the buyer has children, schools always factors into the resale value

Appearance, Condition, and Age

At the end of a hard day of work, you want to come home to your own little oasis. Home buyers have watched HGTV and many have high expectations of what they can get for their money.

Buyers want a good-looking house in good condition. They want value for their money. Curb appeal matters. First impressions of your house start outside.

Is the landscaping tidy?

Does the house need a fresh coat of paint?

Buying a house is an emotional process. When buyers pull up to your house, they will get a feeling, and you want that feeling to be positive.

If curb appeal gets buyers to come inside, high-quality construction will keep them interested. But if buyers see problems – a leaky roof, sloping floors, old wiring – they may lose interest. Are you willing to invest in the necessary upgrades?

If your house is in poor condition and you need to sell it without making any upgrades, there are buyers out there that are willing to buy houses ‘as-is’.


You could sell your house 20 days faster in most areas of the country if you list your house during the first two weeks of May. Why is spring time so popular? Generally, families want to move during the summer break.

There are exceptions to this. The best time to sell a home depends on the market in which you’re selling. If you live in New York City, data shows that listing your home in June leads to selling your house 21 days faster than if you listed it any other month.

Alternatives to the Traditional Selling Process

The traditional selling process isn’t for everybody. You may prefer listing the house yourself to avoid realtor commissions. You may need to sell your house immediately for any number of different reasons:

  • The bank is threatening foreclosure.
  • You’re filing bankruptcy.
  • The property is damaged.
  • You inherited property but you’d rather have the cash.
  • The house violates codes.
  • You’re getting divorced.

The answer to the question of how long does it take to sell your home can be answered with two words: it depends! Learn more about your options when it comes to selling your house.

What’s the Cost of Selling a House (and How to Cut It Down)

Painting, cleaning, mowing and packing, all part of the selling and moving process. Don’t forget dealing with the realtors and potential buyers coming in and out of your house.

Are you ready for the work and costs of selling your house? Consider what you can do yourself and what you need the hire the professionals to do.

The cost of selling a house goes beyond the realtor and the moving truck. Be prepared to sell your house by knowing all the potentials costs associated with the sale. Consider some ways you can save some money in the process.

Prepping Your House to Sell

Want your home to sell for the most money? Sometimes that means you have to spend some money first. Like getting ready for a special date or occasion, your house needs to get ready too.

The cost to sell a house might include doing some of these things to get your house ready.


Staging a home means you get it ready. Treat your home likes it is a stage and needs to present itself in the best possible manner.

Professional stagers come to your home. They might rearrange rooms or organize rooms. Their role is to make your home the most appealing it can be to potential buyers.

Ultimately their job is to stage your home so the buyer can imagine themselves living there. Is it worth the cost? Some realtors believe professional stagers increase the value of your home between 6 and 10% with their services. The average cost of professional staging can be around $2,300 and $3,200.

Can you save money and do this yourself? It means doing research on how to best showcase your home. Sellers have to look at their home with a new and critical lens to effectively do this themselves.

Cleaning and Painting

Giving a deep clean and freshening up the paint is an important step in selling a house.  A fresh coat of neutral paint can give your house a whole new look. Use a critical eye to evaluate those places where your house really needs to be cleaned. Carpet cleaning is usually a necessary expense.

You can do these things yourself to save money. Or you can hire a professional. Costs associated with cleaning and painting can run up to several thousand dollars.

Outdoor Curb Appeal

Here is where you never get a second chance to make a first impression matters. When a potential buyer pulls up in front of your house, it needs to look good.

The grass should be mowed and trimmed regularly while the house is for sale. The bushes and trees should be trimmed and manicured. Don’t underestimate the value of a few flowers pots and new light fixtures outside.

If you can keep up with these things yourself, it is a way to save money. If not, hire the professionals so your home makes the best first impression.

Making the Sale

Once the house is sold, you will have expenses connected to the actual sale. This is the time when you will have the greatest costs. It is also likely the area where you will have the smallest option to reduce costs.

Realtor’s Commissions

If you hire a professional to sell your home, you have to pay for them. A realtor selling a home for you will make between 5-6% of the sale price of the home. This percentage is negotiated with the seller’s agent when listing the home. The selling agent and the buyer’s agent will split this commission between them.

The median home price in 2018 was $248,000. This means the realtor’s commission will be $14,880 at 6% commission rate. This will likely be the largest expense in selling a home.

Of course, you can try to sell the home yourself to save money. You can also hire realtors who will take a smaller commission. However, they typically do less to get the home sold.

Closing Costs

Closing costs are another fee associated with the sale of a home. Traditionally, these fees are the responsibility of the buyer. This can greatly depend on the type of market.

If it’s a seller’s market, the buyer will likely incur the cost. In a buyer’s market, often the seller could be asked to cover or share in the closing costs. Closing costs typically run 1-3% of the sale price of the house.  This is a fee that can be negotiated.

Other Fees

Often there are additional fees connected to the home sale. These can add up and should be planned for. They might include:

  • Mortgage payoff fees
  • Taxes
  • Attorney or title fees
  • Buyer’s home warranty


Once the house is sold, you need to move. The cost of this greatly depends on the distance you are moving and how you execute the move.

One way to save money is to do it yourself. Rent the moving truck, recruit your friends and start carrying stuff. An easier, but more costly route, is to hire the professionals. The average cost of moving with professionals is between $800 and $1,000. Of course, the amount of stuff to move and the distance are the biggest factors in the cost.

Selling Another Way

Does all this sound cumbersome and expensive? There is another option.

Consider letting us buy your house. It is fast, simple and hassle-free. We are cash buyers who like to close a deal within seven days of looking at your property.

Selling a home takes time, money, and patience. If you want to sell your house fast or you want to avoid the hassle and added costs of getting your house ready, we want to buy.

The process is simple and transparent. You contact us, Five Boro Home Buyers. We get the information and consider the history, location, and condition of your home. Within 24 hours you will have an offer from us. The offer includes any needed repairs and closing costs.

When you accept the offer, we get you a check within 7 days. Your house could be sold that fast and that easy.

Cost of Selling a House

Does the cost of selling a house seem overwhelming and expensive? Do you need or want to make the process go quickly? You can avoid the work of repairs and hiring people. You can avoid the strangers traipsing through your house.

Contact us today to start the process. You can save money and get your house sold quickly and without all the hassles.

Paperwork for Selling a House: 5 Things You Must Complete

paperwork for selling a house

Congratulations! You have decided to sell your house. The days of buying a home in your twenties and staying in it through old age are behind us. This means you will probably go through the home selling process a few times.

As you might imagine, paperwork for selling a house can be overwhelming. Knowing what paperwork you need for selling a house will make all your moves easier.

Did you know that homeowners sell and move an average of every 5 to 7 years? Why do we sell our houses more often than ever before?

  • Need a larger space or smaller space
  • Want a nicer place
  • Can’t get permits to make your desired renovations
  • Need to relocate to another city for work
  • Want to move closer to your current job
  • A personal relationship has changed (i.e., marriage, divorce, etc.)
  • Need the cash

No matter what your reason is, there is paperwork for selling a house that every seller needs to prepare for a successful transaction.

Paperwork for Selling a House

Being organized will make the house selling process a lot smoother. To avoid feeling overwhelmed, take a deep breath and read our helpful guide to organizing your property sale documents. Begin by gathering the following:

  • Final Purchase and Sale Agreement
  • Property Title and Deed
  • Records of Structural and Mechanical Maintenance
  • Mortgage Pay Off, Tax and Insurance Information
  • Documents Related to Homeowners Association

The day you bought your house, these documents made some sense. After gathering dust for a few years, they may seem like a foreign language. Let’s dive into the nuts and bolts of each of these documents.

Your Original Signed Purchase and Sale Agreement

The day you closed on your house, your life became complete chaos as you unpacked box after box after box. The last thing you were thinking about was organizing the documents from your purchase. Hopefully, you got around to it. Here is a list to refresh your memory.

Purchase and Sale Contract. This the most important document in a real estate deal. Like most contracts, there is a lot of legalese in it. Here is a simple breakdown of what it contains:

Address of the Property

This includes the street address and the legal description. The legal description includes the lot number, property lines, natural or man-made landmarks to help identify the property, county and state name.

How Much You Paid for the Property and How You Paid

This would include the type of loan you used to purchase the house with details like interest rate and term. If you paid cash, this would be stated instead of the loan information.

The Date and Location of the Closing

Typically, the location of the closing is at a title company, the real estate agent’s office or an attorney’s office.

Conditions of the Transaction

This includes contingency items like verifying your ability to get financing or pay cash. There may be repairs or other things that you required before closing – these would be included.

As you review the contract, make sure that the information is still correct. For example, make sure the name on the contract exactly matches the name on the most recent deed.

Property Deed and Title

These two terms can be confusing for homeowners. The word title is more of a concept that means you own your home. If you have a mortgage, the lender has the title.

The deed is a record of ownership. The original deed is filed with the recorder’s office of the county where the property is located. Your mortgage lender has a copy of the deed.

You should have a copy of the deed with your mortgage paperwork from when you purchased the house. If you don’t have a copy, you can go to your county’s recorder office and get a certified copy.

Records of Maintenance, Upgrades, and Utilities

Your potential buyers will want to know the repairs, maintenance, updates and upgrades you’ve performed on your house. The items you will want to include are:


Gather receipts for both interior and exterior home improvements such as new windows, refinished floors, appliances that have been replaced, tree removal, a fresh coat of paint, gutter cleaning, pest control, new electric wiring, etc.

Manuals and Warranties

Gather manuals and warranties for repairs, maintenance, updates, and upgrades. If possible, the names and contact information of the contractors who did the work.

Past Utility Bills

Past utility bills can be helpful for a potential buyer. This information can factor in the affordability of a monthly payment. You can ask your electricity, gas, water and sewer providers to provide details for the last 12 months.

This information will come in handy when you complete the seller’s disclosure, which states all the problems and defects with your house. If your house was built before 1978, you will have to state knowledge of any lead-based paint.

Mortgage Pay Off, Tax, and Insurance Information

If you own your house completely – meaning not mortgages or liens against your house – then you don’t need a mortgage pay off statement.

If you are still paying a mortgage, you will want to know the pay-off amount which is different from the current balance. Call your lender and ask for a pay-off statement.

You will find this helpful when you’re considering offers on your house. You’ll be able to calculate how much you keep from the proceeds of the sale and how much goes to your mortgage lender.

A potential buyer will consider how much in taxes they will pay. Collect your property tax receipts. Collecting and reviewing these receipts will also help you avoid unpaid property taxes.

You will need to have documents showing homeowners insurance claims that you made for any damages and repairs to your house.

Documents Related to Homeowners Association

If your property participates in a Homeowners Association, you’ll need the following documents for potential buyers to review:

  • Articles of incorporation
  • Bylaws
  • Rules and regulations
  • Dues
  • Declaration of covenant, conditions, and restrictions

Every HOA is different, but it safe to assume that consulting with your HOA at the beginning of the sales process is a good idea.

Get Organized!

Gathering paperwork for selling a house can be daunting. It’s not fun to dig around your house for property sale documents. But getting your paperwork organized will make a good first impression on potential buyers.

There are a lot of things to worry about when you are selling your house. Some of these you can control and some of them you can’t. Fortunately, gathering the documents listed above is in your control. If this process sounds overwhelming, talk to a professional about the fastest and easiest way to sell your house.

What’s the Process of Selling a House for Cash to Buyers?

process of selling a house for cash

Have you heard the expression cash is king? It means that having cash in hand is better than having a promise for future payment. Would you rather be paid today or tomorrow?

The process of selling a house for cash is easy. Really, it is. If you’re considering selling your house for cash, read on.

Does a cash sale mean you get a briefcase of cash the day you close the deal? No. The use of the word cash, in this case, means that the buyer doesn’t need a mortgage to buy your house. Upon closing the deal, you will receive payment by check or wire transfer.

When your priorities are speed and convenience, seeking a cash offer for your house might be the right way to go.

Benefits of Selling Your Home for Cash

Real estate laws vary from state to state and cash buyers will have their own way of doing things. Generally, you can expect the following with a cash offer for your house:

  • No appraisals = no delays
  • No contingencies = no delays
  • As-is – no repairs = no delays
  • No commission to realtors = more money
  • No closing costs = more money in your pocket
  • No showings = no cleaning or staging or strangers in your house
  • No inspections = no delays
  • No banks = no delays
  • Faster and simpler process
  • Buyer doesn’t need a mortgage
  • Buyer takes care of legal documents and filings

The one disadvantage to selling your home for cash is that you may not get the full value of your house.

What are the basics steps in the process of selling your house for cash?

  • Research
  • Assess
  • Offer
  • Contract
  • Close

Let’s take a more in-depth look at what the process looks like when you sell your house for cash.

Research Comparable House Sale Prices in Your Market

If you were using a real estate agent, this agent would present you with a comparative market analysis or comp. A comp shows you what similar properties in your market have recently sold for.

You can compare your house to others with similar age, condition, square footage, number of bedrooms and bathrooms, amenities, neighborhood. A site like Zillow can you help find comps.

A cash buyer will not pay the market comp price but it is a helpful starting point for you, the seller, to negotiate.

Research Potential Cash Buyers

Conduct an online search using Google or Craigslist with search terms like cash for houses, sell my house fast, sell my house for cash. Be sure to search in your market.

If you are in the New York City or Long Island area, search for cash buyers in that market.

Make Inquiries with Your Preferred Cash Buyers

When you make contact with the buyers who will make a cash offer for your house, be prepared with a list of questions. Some examples are:

  • Have you recently purchased houses in my neighborhood or city?
  • Can you provide proof that you have the cash on hand to pay me?
  • Can you close in 7 to 30 days?
  • What types of property do you pay cash for?
  • What is your process for buying a house for cash?
  • How do you determine the cash offer for a house?

Cash Buyer Assesses Your Property

You will provide your street address over the phone or through a form on a website. Then the cash buyer typically asks questions about your house so they can do a quick market analysis.

The buyer may make an offer over the phone with the understanding that they will visit your house to verify the details you have provided. Some cash buyers will make an offer after they have walked through your house.

Cash Buyer Makes an Offer

Unlike the traditional buying process, where buyers consult with their agents to make an offer, a typical cash buyer will make you a cash offer for your house as soon as they’ve completed their assessment.

Seller Approves Offer

You can accept or reject the cash buyer’s offer. You are not obligated to accept the offer.

Seller Chooses Closing Date

If you need to close the sale fast, this part of the process is a huge benefit.

Sign Purchase and Sale Agreement

You may have heard of the phrase under contract from friends or family who have sold their house. This is a contract that simply means that you plan to sell your house to the buyer and the buyer plans to buy the house from you.

Get proof that the buyer has the cash to pay you as promised

You can request that the buyer verify their ability to pay the amount of cash promised.

Buyer Arranges for a Title and Escrow Company

Many cash buyers take care of all the documents required to close the deal. This means hiring a title company who verifies that you have the right to sell the property. An escrow company will also be hired to manage all the closing paperwork and arranging for the cash payment to you.

Remember that you can’t sell your house if there are any liens against it. Liens can be put on your house for a lot of different reasons. Some common reasons are unpaid taxes, unpaid child support, or not paying a contractor who has done work for you.

Buyer and Seller Sign Closing Documents

The buyer will tell you everything that you need on the day of signing, including a government-issued ID and the house keys. If you owe any outstanding taxes, utilities or liens you will have been instructed to bring a cashier check to cover these costs.

The documents you can expect to see at the signing when you sell your house for cash:

  • Final Closing Instructions are just what they sound like – a list of all the things the escrow company needs to do as well as a list of the amounts of money changing hands.
  • Statement of Information is a document where you verify that you are who you say you are.
  • Mechanics Liens is the document where you promise there are no outstanding liens on your house.
  • Mortgage Loan Payoff document shows how much you owe (if anything) on your mortgage. The escrow company takes care of paying off your mortgage lender.
  • Certificate of Title is the document where you promise that you have the right to sell the house
  • Title Deed is the document that transfers ownership from you to the cash buyer
  • HUD-1 Settlement Statement lists the sales price, tax, utility bills and anything else that you and the buyer have negotiated. This document is required by federal law.

What’s Your Next Step?

If speed and convenience are your priorities, and you accept that you may get less than the market value for your house, then consider a cash offer for your house.

Learn how easy the process of selling your house for cash is. You’ve got an important decision to make and talking to a professional is the first step.

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