“How Long Does it Take to Close on a House When Paying Cash?” — Great Question!
Here at Simple House Solutions, we get asked this question all the time, “How long does it take to close on a house when a buyer is paying cash?” In all honesty, the cash closing process is unpredictable! A “typical” timeline does not even exist! For some, it can take a couple weeks, others a few days, and for the majority, several months!
When you factor in differing personalities, circumstances, lifestyle, economic background, financial needs, and so on, you see that many things can all affect the cash closing process for better or for worse— it all depends.
However, from our years of experience dealing with buyers from all walks of life, we have been able to spot a common pattern that helps us estimate to the best of our ability whether or not closing on a house when a buyer is paying cash will be fast, simple, or is on the extreme end of the opposite.
Buyers Are Focused on Their Situation as a Buyer, Not Yours as a Seller.
Homeowners frequently meet with potential buyers who may have the cash ready for the purchase of a home, but at the same time are non-committal. Hence, the answer to, “How long does it take to close on a home when paying cash” is that it depends on the buyers’ sentiment at the time.
The purchase of a home is one of the most monumental decisions one can make during their lifetime. For that reason, buyers are indecisive and a simple transaction ends up being complicated and ends in countless delays.
Buyers base their decisions on their emotions. Whether or not a buyer will commit to your home can have everything to do with your home or absolutely nothing to do with it. You will have to ride out the highs and lows of their constantly changing attitude.
For example, they may have given you an enthusiastic, “Yes!” and all of a sudden, they back out with the offer. At any moment, a buyer can change their mind or need more time to think it through. All of this affects how long it will take to close in on a home when a buyer is paying cash.
“How Long Does it Take to Close on a House When Paying Cash?” Gets More Complicated When You Factor in First-Time Buyers
Chances are, you will meet plenty of first-time home buyers. For this group, it is especially true that they want to serve their agenda and not yours. For the first-time home buyers, part of the excitement is meeting their future home and hence they come with high expectations. If your home is not perfect, or looks nothing like a property in a real-estate magazine, it will take a lot of work to convince them that the purchase of your home is worthwhile– that is because your home’s first impression can make or break the deal.
Negotiating with first-time home buyers can be a tug of war that leads to nowhere. For example, first-time home buyers may demand that your bathroom showers need to be at least 4 feet by 5 feet (believe it or not, it happens quite often). They may demand new floorboards for your living room and an entire paint job for the ceiling fans. The list of remodeling projects can be endless.
First-time home buyers will approach your home with scrutiny and high expectations. They will come with a never-ending check list of items that needs to be completed which usually centers on remodeling parts of your home to suit their individualistic taste.
Yet, renovating your home and remodeling may not have even been on your radar. Believe it or not, if your home does not have great curb appeal (such as having an impeccably manicured front lawn or a well-functioning modernly designed garage door) it can be a deal-breaker.
Buyers have unique circumstances as well that may delay the process. They may be in the middle of a time sensitive situation that requires their focus. This causes them to divert their attention away from the sale of your home. Divorce, transitioning to a new job, taking care of a family member with illness, are all examples. Even though there is no clear-cut answer to, “How long does it take to close on a house when paying cash” we’ve seen that it can take quite a while when it was originally promised to be a speedy transaction.
Putting Your Home on the MLS Will Affect the Cash Closing Process.
The most typical route for homeowners is to put their home on the MLS. But if you put your home on the MLS and go as far as trying to market your home yourself, you will never be able to choose when a buyer comes along with an offer. If you are wondering how long does it take to close on a house when paying cash, then you will have to factor in the fact that it can be unpredictable at best. There’s also the home inspection and waiting for the mortgage to be approved on the buyer’s end— who knows how long that will all take. The MLS can be a gamble with no clear-cut outcome and it leads a lot of sellers down the road of feeling VERY helpless!
Well not anymore..
With Simple House Solutions, LLC, YOU Can Choose the Timeline for Closing in On The Deal!
At Simple House, LLC, we strive to NOT be typical. With us, the answer to, “How long does it take to close on a house when paying cash” is this— YOU GET TO DECIDE. We are so focused and passionate about customer service and making our clients happy that we ALWAYS ask each and every seller about their desired closing date— to the exact day and time!
Need to wait 3 months for the kids to finish school? No problem. Need to close next week because the bank is threatening you? No problem. Need to close in 30 days so that you can pack and move on YOUR schedule? Perfect. You let us know the date on when you’d like to close, and we promise that we’ll deliver. Contact us today and get the freedom to choose when you’d like your home to close!