When you plan on selling to a Kansas City cash home buyer, it helps to know exactly what to ask them so you can tell whether they’ll be worth your time or if they’ll be good for your community. Let’s break down some FAQs to ask during negotiations and before you close a cash deal.
Selling to a Kansas City Cash Home Buyer: Does the Buyer Have Experience?
Firstly, make sure any prospective cash buyer has plenty of experience. Experienced cash buyers:
- Will have fewer hiccups in the process
- Will close more quickly
- Will pay you a fair amount for your property rather than trying to scam you
You can oftentimes go around a cash buyer and look them up individually or the company behind them. That way, you can get a sense of their reputation and see if they have made successful cash purchases in the past.
Can the Buyer Provide Proof of Funds?
Any cash buyer worth your salt should be able to provide proof of funds in some way. This is a standard practice in the industry and it’s never insulting; any cash buyer who implies otherwise should be turned away.
All the cash buyer has to do is show you proof using a certified bank letter or statement. That shows that they have the hundreds of thousands of dollars necessary to purchase your property outright.
Selling to a Kansas City Cash Home Buyer: Can the Buyer Make an Earnest Money Deposit?
If you want to go even further, ask a cash buyer if they can make an “earnest money deposit”. In a nutshell, this is a lump sum deposit into your bank account to prove that they are willing and committed to the home sale. They can withdraw the deposit, usually around $10,000 or so if the deal goes south for one reason or another. This is just another way to know if you can trust a cash home buyer before you sell your most valuable possession to them.
Does the Buyer Need a Home Inspection?
Some cash buyers require home inspections, but not all. Those that do will take a little longer to close the deal, but that may be alright depending on how quickly you need to sell your home. Ask whether the buyer requires a home inspection so you can get your ducks in a row or prepare things in your house to make things go more smoothly.
However, note that most cash buyers don’t require home inspections since they want the deal to go down ASAP.
Selling to a Kansas City Cash Home Buyer: What Does the Buyer Require?
Be sure to ask the cash buyer if they have any other requirements, such as appraisals. This may help you choose between multiple cash buyers if you have several offers for your property.
How Long is the Closing Period?
If you want to sell to a cash buyer, odds are you want to close the deal quickly. If that’s the case, ask your cash buyer how long their closing period is. This will allow you to plan your departure date and make sure you have everything packed on the day of the deal (so you aren’t scrambling to get everything into the moving van!).
Selling to a Kansas City Cash Home Buyer: Does the Buyer Have Closing Costs?
Lastly, be sure to ask a cash buyer if they have any extra closing costs. Most cash buyers don’t, but any that do will reduce your total profits. It might be wiser to go with a cash buyer who doesn’t have any closing costs whatsoever.
That’s why you should contact KC Property Guys. As the go-to buyers for the area, we are well-equipped and ready if you’re selling to a Kansas City cash home buyer, so contact us today!