What Happens During the Closing Process of Selling a Home?
Selling your home can be daunting, especially when you have a deadline to meet. Apart from the difficulties inherent in landing the right offer and the mountain of paperwork involved, certain steps can put a pause on selling your home, mainly during the closing process.
At Bill Buys Houses, we make this process less stressful by helping homeowners sell their homes fast without going through all the rigorous steps.
If you are a Twin Cities homeowner and wish to sell your house fast, learn how our team saves you the stress of going through the closing process!
The House Closing Process
The average time for completing a closing process of selling a home is 45 days. This is outside the number of days spent during negotiations, removing belongings from the property and fixing the necessary repairs. That’s to tell you that the closing process comes with its hassles.
The process involves the following stages.
1. Sign the purchase offer.
This move initiates the closing process. Here, all that is needed from you is to sign the purchase offer document.
2. Hire an attorney and open an escrow account.
This account is where the money will be held until the transfer of ownership is done.
3. Conduct a title search and insurance.
At this stage, you’re expected to check for loans, liens, and outstanding taxes or claims on the property.
4. Allow for further inspections.
In some cases, what comes next is proper inspections of the property by the buyer or loan company assisting the buyer. Sometimes, after thorough inspections, there may be further negotiations for a price reduction.
5. Hire a professional for final appraisal.
Before you finalize the sale, you may need a realtor to help you with a professional appraisal. This will help you get a real-time value of your property and finalize the price tag you place on it.
Also, note that if the real valuation comes in lower than you had planned, the buyer might push for a price that reflects the new price.
6. Make it to closing day without something happening!
The final stage is where you finalize the sale – also referred to as the closing day. You’ll need to sign the necessary paperwork and hand over the keys on closing day, so long as nothing puts a snag in the sale before then.
How to Skip the Closing Process
Now that you’ve seen a little about the closing process of selling a home, let’s take a quick look at a much quicker process if you partner with Bill Buys Houses!
Our closing process saves you from the stress of waiting for buyers to run around to complete a mortgage process, which may take up to two months. We cut this process off by offering to buy your home as is and for cash.
This implies that you need not worry about preparing the home for sale as we have a team that does that for home sellers. Just prepare your home document; We will inspect your home, make a good offer, and pay you in cash.
We’re Ready to Buy Your Twin Cities Home in Any Condition!
For more information on our services and how we can help you with the closing process, schedule a meeting with our team through our contact form or call at 651-270-9191.