HomeLight

MARCH 13, 2023

If you paid top dollar for your Orlando home and need to sell before you intended due to a change of life circumstances such as divorce or lost job, you might have little or no equity which makes it difficult to take the traditional sales route. The buyer does due diligence during the option period in Florida.

Sales 84

Sales Investor Due diligence Renovation 84

HomeLight

MARCH 13, 2023

They may want to avoid the 6% interest rate of a loan by buying with cash. Flexible closing date: While closing typically takes place faster with a cash buyer than with a traditional loan-backed sale, Speed points out that sellers may need to wait a little longer before closing. No pre-qualifying for a loan.

Sales 73

Sales Investor House Flipping Pre-approval 73

HomeLight

MAY 24, 2022

But just how long does it take to close on a house with cash, compared to a traditional loan? Everyone involved will need time to perform their due diligence. The bulk of the time, however, is consumed by loan underwriting and processing. Option periods. During this time period, you could change your mind.

Purchase and sale agreement 106

Purchase and sale agreement Closing Title search Title 106

HomeLight

MARCH 16, 2023

Ramcharitar advises asking for proof of funds such as a bank statement to ensure the buyer has enough resources to cover the price of the home. So you won’t be holding your breath until the buyer’s loan approval comes through or be on the hook for needed repairs discovered during the home inspection.

Sales 68

Sales Purchase and sale agreement Earnest money deposit Investor 68