Most homeowners seeking a quick cash sale fail to:
How can someone buy your house cash, if they don’t have the cash?
Inspection periods are what’s called contingencies and they give the buyer the ability to back out of the agreement any time during that period. In most situations, a competent cash buyer should be able to complete a visual inspection and be ready to fully commit to buying your home.
Often times the larger a buyer’s escrow deposit, the more serious they are about buying your home. 5% is usually the minimum, with 10% being preferred.
It’s your right to know if the escrow deposit has been made. If it hasn’t, something is off. Ask for an escrow letter from the title company.
If you need cash before you move, ask for it. If you need your move paid for by the buyer, ask for it. If you need to live in the house for 2 months after closing – ask for it.
