Closing on home, whether you’re a buyer or seller, is a complicated process that never seems to go just as planned. Even the most experienced home sellers dread the process of closing. One way to make the closing process easier is to eliminate many of the steps by doing a cash deal with a company that pays cash for homes in Portland. If you are interested in this process, here is what you can expect.
Contract
The first thing you will do when buying a house for cash is to sign a purchase and sale agreement when you get an offer you wish to accept. You have probably heard this called “going under contract” by those in the industry. This is just the first phase of the closing and tells the partner that you intend to close in the future.
Verify funds
The buyer in a cash sale will then prove that they have the funds available to make the purchase. This is necessary because there is no loan and the entire purchase amount of the sale will be given on the closing date. This step is one of the reasons that a cash sale is more reliable than a traditional sale with a mortgage loan.
Inspection
Any experienced company that pays cash for homes in Portland will issue an inspection contingency with the offer. This just means that they want the home inspected by a professional so they know what they are buying. Some renovation companies won’t include this contingency because they wish to purchase the property as-is. If you are interested in selling your property for cash, call PDX Renovations LLC for more information.
