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Selling an Old Home in Houston for Cash: Here’s What You Should Know

Selling an Old Home in Houston for Cash Heres What You Should Know

Do you own an old, rundown property in Houston? Selling old homes is an expensive and time-consuming process. First, you have to find the right real estate agent, and then, you must spend thousands of dollars on repairs and renovations. Depending on the home’s condition, the process can take anywhere from six months to one year and cost you a fortune.

If you’re wondering how to sell a house fast, the easiest, quickest, and cheapest way to sell it for cash. Over the years, we’ve seen many homeowners in Houston looking to sell their properties for cash. But not many are aware of how it works. In this guide, we navigate the ins and outs of selling an old house in Houston for cash to help you make an informed choice.

Know the Value of Your Houston Home

Selling your old house as-is for cash can help you save money on repairs. You don’t have to spend thousands of dollars repairing a leaky roof, fixing broken lights, or adding a new coat of paint. Cash buyers in Houston purchase your property in any condition and pay you a fair price.

However, the biggest caveat is that cash offers tend to be lower than regular financed offers. But this price difference usually compensates you for the costs you would spend on marketing, repairing, staging, and listing your home. It’s a good idea to have an estimate of the current value of your home so that you know if you’re getting a fair offer. You can use free online home value estimate tools or browse real estate property listings to get an idea of the estimated value of your property.

Request Offers from Several Cash Buyers

The next step is to reach out to different cash home buyers in Houston and request an offer. Most cash buyers schedule a quick visit to your property and then give you a cash offer after the inspection. Compare the bids you receive to choose the best cash buyer.

Evaluating cash offers from different buyers can be tricky. Don’t be tempted to choose a cash buyer just because they have quoted the highest price. Weigh other factors of the contract like:

  • Flexibility of the closing date
  • Testimonials of previous customers
  • Offer’s legitimacy
  • Company’s record
  • Assistance with title transfers
  • Hidden closing fees and costs
  • Proof of funds

Consider all these factors to choose a trusted cash home buyer in Houston to complete the sale of your old property.

Are You Happy with the Cash Offer? Sign the Contract!

If you’re happy with the cash offer, the next step is to sign the contract. It’s a good idea to have an attorney review the contract terms before you accept the offer. The agreement includes the following key details:

  • Purchase price
  • Deposit amount
  • Closing date

Note that financial troubles like unpaid taxes, a second mortgage, pending liens can delay the closing of your property. Usually, cash buyers have a legal team who handles all these situations. The closing typically happens at a local title company or escrow company in Houston. Once both parties have signed all the documents, the cash buyer pays you the sale price in cash or with a check.

A cash sale is the fastest way to sell an old property in Houston, and being aware of the process helps you make an informed choice. Remember that while a cash offer is an excellent way to sell a house fast in Houston, you need to choose the right cash buyer to get the best value for your property. Use the tips in this article to evaluate cash buyers and get a competitive offer for your Houston home.

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