Helpful Tips to Sell Your House to Cash Buyer
At some point in life you may have reasons that will result In you selling your house. We have various ways you can choose to receive your payments from the buyer. It’s a bit safe to receive payments through bank transactions but due to some unavoidable circumstances you need the money in cash. In this article we will guide you on how to be safe while receiving cash payments from your house buyer.
First thing to do before you sell your house for cash is that you need to put forward a contract or an agreement that will guide you through the house sale. The agreement includes the terms of sale, the mode of payment and the how long it will take to transfer the house. To ensure that you the agreement is legal you need to seek the services of a real estate attorney. The house seller should also include their attorney to ensure that both parties are in agreement of the sale. You may need the agreement for future referencing when there’s need to. The agreement also protects you from unscrupulous buyers who are in the pretense of buying the house but have other motives. In case you seek the services of a realtor then you need to have an agreement on how they will receive their commission once the payments have been done.
During payment, you need to put up some measures which will ensure your safety . Due to the amount of money you are likely to receive then the location should be safe and secure. It’s safe to carry out the payments at the bank since the buyer will withdraw the money and the seller will deposit the money to the account they want. In case you do not need to deposit the money then you can invest in safety measures like a safe deposit where you can lock the money safely. There’s a need to have a background check of the buyer to ensure that they are not involved in criminal activities. This is a guarantee that you will be safe and avoid losing your money. You should ensure that you are able to differentiate fake money with the real money and that you are keen in counting.
Ensure that you do not transfer the house document to its new owner until you have received the full payment. This is useful when you have agreed with the house buyer that they can pay the house in instalments. This is an assurance that the buyer will have to honour the deal in order for them to get the house documents and safeguard you from losing your house.