You may find yourself in a situation where you need to unload a home fast for cash. Perhaps you took a chance on a home as an investment, but the property wasn’t all you thought it would be. It may be an inherited home you don’t want, or you may need to relocate quickly for a job. Whatever your reason, the following are a few things you should be aware of.
Realize That You’ll Probably Be Getting Less Than Market Value
If you are looking into selling your home fast for cash, chances are, you are a motivated seller. As far as getting the most you can for something you are selling, this is the worst position to be in. If you need to sell your house fast for cash, don’t expect to get top dollar.
Be Aware of the Different Types of Deeds
The deed is the central document in real estate transactions. This is the document that specifies who will own the property after the transaction is concluded. A warranty deed or a quitclaim deed are the two most common types. When selling your property, you should know that using a warranty deed means you are guaranteeing that the property is free of any liens or encumbrances. With a quitclaim deed, you are making no such assurances regarding the title to the property.
Have Details About the Property Ready
This speeds up the process. Any buyer will want some basic information about the property. Have this ready before you start, and you will have the information at your fingertips for every potential buyer you speak to.
Ensure It’s a Reputable Buyer
Getting scammed is a big concern when selling a home fast for cash. Some indicators of a scam can be people who are willing to buy the property sight unseen. Also, be suspicious of any potential buyers who only communicate through email or who don’t even try to negotiate on the asking price. If you don’t want to take the time to find a legitimate individual buyer, there are reputable real estate property investing companies that buy homes for cash.
When the deal is complete, you need to make sure you keep copies of all the relevant paperwork. This is important, so you don’t have to rely on your memory whenever you may need to come up with details of the transaction. Also, records are vital in enabling you to handle any tax consequences of the sale because the IRS will definitely want to know about any money you made from this transaction.
One Option for a Quick Property Sale
If you are a homeowner in the St. Louis area and find yourself needing quick cash for your house, you may want to know about St. Louis Realty Advisors. We treat people fairly and regularly pay cash for homes in St. Louis. We have experienced property investors and will get you the cash you need quickly and with little to no hassle, so you can get on with your life. Give us a call at (314) 326-4900 to learn more today.