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Tempted by a Cash Offer for Your Home? Dissect It With This Guide

HomeLight

Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. A cash offer is an offer made by a homebuyer who wants to purchase a piece of residential real estate without borrowing money from a lender. This means that the buyer has the funds to purchase the home in full.

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10 Things Your Real Estate Business Plan Needs (FREE Template)

Kyle Handy

Documentation: Ensure that all necessary documents, such as pre-approval letters and proof of funds, are in order. Keep in mind: Research: Analyze comparable properties in the area to establish a competitive price for the offer.

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How to Sell a House By Owner in North Carolina

HomeLight

Sellers should also keep in mind that while buyers can often get pre-approved for a mortgage at the click of a button on a website, they may not have submitted the documentation to guarantee that approval. Have the pre-inspection done so that you can be ahead of any potential issues,” Richter suggests. See the next step!)

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How to Sell a House By Owner in Iowa: A Hawkeye State FSBO Guide

HomeLight

The Iowa State Bar Association also provides a Residential Property Seller Disclosure Statement form. To protect your home, yourself, and your family, have a pre-approval process that includes: Requiring the buyer’s identification. Requiring the buyer’s pre-approval letter or proof of funds.

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How to Sell a House By Owner in Ohio: A Buckeye State FSBO Guide

HomeLight

For example, in Ohio, you’ll need to meet a number of mandatory disclosures and complete a Residential Property Disclosure form. But that said, he urges FSBO sellers to ensure that prospective buyers have pre-approval and proof of funds. He says asking for pre-approval letters is key.

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How to Sell a House by Owner in New Jersey

HomeLight

Murphy says some New Jersey towns offer full-day pre-K. She cautions that buyers can get a pre-approval letter online that’s not worth the paper it’s written on. So your due diligence should include contacting the lender to ask about the type of financing and whether the buyer has the qualifications to be approved for a loan.

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How to Sell a House by Owner in South Carolina: A FSBO Guide

HomeLight

Buyers may get pre-approved for a mortgage at the click of a button on a website, but might not have submitted the documentation. With our current climate of changing interest rates, that same pre-approval from a month ago may not be valid today for the price of their home,” Richter adds. Require everything in writing.