If you see “we buy houses” signs all around town, you may have thought about selling your house fast for cash. But just how is it that cash home buying companies are able to buy your house and close so quickly? If you are saying, “I need to sell my house fast”, be sure to watch our latest video from We Buy NKY Houses.
“So, I see all of these advertisements that are We Buy Houses fast for cash. Why is it that if you buy my house for cash, it’s going to close quickly?” That’s what we’re going to talk about in this video.
Hey guys! What’s going on? This is Eric Sztanyo from WeBuyNKYHouses.com where we buy houses for cash in Cincinnati and Northern Kentucky.
Today, we just closed on a property. We are outside of Kentucky Land and Title here in Fort Mitchell, KY. You might be able to hear the highway in the background. And, I just wanted to go through really quick the main difference of closing your house as a seller when you are doing a cash deal with a cash home buying company versus closing your house if you are working with a real estate agent and you had a residential owner occupant as a buyer.
(Car horn) There goes one of our investor friends.
So, there are really two big reasons. And, the question is how are you able to close so quickly? And, you’ll see on our website that we can close between 7-10 days. “We buy fast”, “sell your house fast”, why is it that these advertisements are able to close so fast.
Well, there are two main reasons:
Buying With Cash
The first reason is that we are buying with cash. When you buy with cash … one of the reasons it might take so long to close with an owner occupant is that they may be going through a loan approval process. That process can easily take 30 days if not longer. So, when you are selling to someone who need to go to the bank, apply and get approved for a loan, there is all kind of work that the loan officer and the lender have to do to make sure that the buyer is worthy for the loan. So, we’re cutting that lengthy process out of the picture completely because we’re buying your house for cash. So, that’s the first reason.
Shorter Inspection Period
The second reason, and this is maybe a smaller reason, but when you sell your house to a residential owner occupant buyer, the other thing you are going to do after you go under contract is have a lengthy inspection period.
The buyer is going to hire an inspector to go through the house and find everything wrong with it, and then it opens up a second negotiation period where you are figuring out what to do. What not to do. What repairs. Maybe you are going to give them cash. Maybe you are going to fix the dishwasher or whatever the problem is.
And that all takes time. Usually, that period is a 10 day inspection period, and there is 5-7 days where you have a settlement period after they get the inspection. And that takes time. You add all of those periods together when you are selling your house with a real estate agent, and it can easily be 30 days, maybe 45 or even 60 days. It just depends on what the buyers want and how the negotiation goes.
So, if you need to sell your house fast, this is why it may make sense to sell to a cash home buyer like us. And if you need to sell your house in Cincinnati or Northern Kentucky, give us a call at (859) 412-1940. My name is Eric, or go to our website to learn more. WeBuyNKYHouses.com. Thanks for watching. We’ll see you next time!