Selling a home for cash involves receiving an all-cash offer, which eliminates mortgage financing risks. Sellers can benefit from quicker closing times, often completing sales in as little as two weeks. The process begins with signing a purchase agreement and verifying the buyer's proof of funds. Since cash offers are not reliant on loans, they can be more appealing to sellers in various locations. The buyer may be required to provide earnest money and official bank or investment statements to confirm their funds.
An all-cash offer is when a buyer bids with the total purchase price, eliminating the need for a mortgage, which appeals to sellers due to reduced risk of financing falling through.
Closing on an all-cash deal can happen in as little as two weeks, depending on whether issues arise during the home inspection or if the buyer's cash is contingent on another sale.
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