Are you thinking about selling your home but don’t want to go the traditional route and hire a realtor? You are not the only one. Many sellers prefer not to work with real estate agents, and want to save the money a realtor’s commission takes from the sale. The amount can be as high as 6%. For example, if you are selling a home that costs $300,000, you may have to pay a realtor $18,000. Fortunately, there are other options you can use for selling your property that don’t require a realtor. One of the most effective and quickest is working with a home investment company.
This method has many benefits. First of all, you do not have to spend money on repairs and renovations because these companies are ready to buy properties as-is. Second, you can skip showings and open houses that can be overwhelming and time consuming. And finally, you will receive your cash offer very fast and be paid in cash. Here is what the process of selling a home to a cash buyer in Colorado Springs looks like.
Step 1: Find a Trustworthy Cash Buyer
Finding a reliable home investment company and a cash buyer is the first step. You can search Google, read reviews on local companies, check Craigslist, or contact the local records office in Colorado Springs to get the information you need. Or you can contact Purple Mountain Holdings — the top cash buyers in Colorado. They are ready to organize a quick sale for you.
Step 2: Receive a Cash Offer and Review It
In most cases, you will receive a cash offer within 24 hours. Once it is sent to you, your next step is to carefully read and review it. It is important to make sure that the cash offer is fair. If your home is in good condition, the best way to find out its value is to look at the comparable properties in your area. Do not forget to subtract a realtor’s commission and add a fair discount. If your property is pretty old and needs repairs, you should find upgraded properties in your area, deduct the commission of a realtor, the profit of a home investment company (about 15%), and the cost of repairs. This is how you can figure out the real price of your home. If you do not want to do this yourself, you can always hire a professional realtor to help you find out how much your property is worth with the help of comparative market analysis.
Also, make sure that a cash buyer shows you proof of funds. This could be a letter from their bank with the signature of a bank officer or a bank statement showing that a cash buyer has enough money to pay you for the house.
Step 3: Prepare and Sign the Agreement
The contract that is prepared by a home investment company should include the following information: the closing date, the deposit amount, and the price. You can review the contract yourself or hire a lawyer. There is also a quite common practice used by some investment companies known as “sight unseen,” which removes the need for a home inspection. Usually, this practice is used when the property is in really good condition and does not need to be inspected, or when a cash buyer is going to demolish the house because he is interested in the land.
Step 4: Close on the House
Once the contract is signed, the property will be sold within the next two weeks. Compared to the traditional way of selling with a realtor, it is very fast and does not involve much paperwork. This makes the whole process more convenient both for a seller and buyer.
Sell Your Home Fast With Purple Mountain Holdings
Purple Mountain Holdings is a family-owned business located in Colorado Springs that can purchase your property fast and as-is — for cash. The condition and location of your home do not matter. We are ready to buy it right now. You can contact us today and receive a fair offer tomorrow. No commissions, no closing costs, and no repair expenses. Our mission is to make the home-sale process for you as easy and straightforward as possible. All you need to do is visit our website and fill out the form, or give us a call at 719-476-2727.