There are a lot of benefits for selling a home fast for cash to a local we buy houses company. The most obvious, of course, is because they want a quick sale, so they can move along with their life. Another reason is to get cash, where they can use the money for unexpected life events. Whatever your reason is for selling your home fast, be sure to ask your local we buy houses company these 4 questions.

1. What are the cash buying terms?

This one is pretty basic, but also pretty essential. Before signing on the dotted line, you need to find out what the terms of your home purchase will be. This will include earnest money also known as deposit, cash or hard money, and any out clauses. Here’s a quick explain of how this works. The cash homebuyer will give you a deposit and their proof of funds is from a hard money, in this case that means financing so it isn’t much cash anymore. Most home buyers use all cash to buy homes fast so you need to know if and how the funding is cash or hard money.

2. Are there any home selling fees?

Surprises fees are the worst, so make sure you don’t get slapped with the unexpected after you’re already deep in selling process. At the very beginning, ask the home buyer what fees may be assessed.

Most sellers pay normal taxes for the current year owed, some cases you may need to pay violations, homeowner association, back taxes, and liens. These fees for the most part get taken out of your proceeds. So let’s say you owe 20k in back taxes and you are given 100k for your home, it isn’t like you’ll have to fork out the whole amount out of your own pocket it will be taken from the sale of your home.

3. How long will home selling process take and how soon will I get my cash for my home?

The home selling process is fairly quick and painless, which can be very convenient for any home seller wanting a quick sale. Title companies gathers and pulls necessary title and lien search to help  speed the process, it’s a good idea to estimate for about 30 days or less for closing. Just keep in mind that certain homes that contain liens, violations, condo application may prolong process but not by much.

4. Are there any special requirements or criteria that could affect your eligibility?

Some cash home buyers have certain buying criteria regarding the types of properties they are willing to buy. For instance, some home buyers may not buy mobile homes, vacant land, commercial property of any kind, because they are only buying homes, condos, or townhomes. Before selling your home fast, ask if there are any types of properties that will render your type their inability to buy fast for cash.

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