Everyone has at least a basic understanding of how the process works when selling a home on the traditional market, but few fully understand the process when selling privately, the alternative method to the widely known route. It’s fast, easy, and molds to the needs of the seller–which is essential for those looking for a fast sale or to save money on commission fees. It really isn’t an arduous process, and more people should have the opportunity to choose the best method for them. We’ll use the process at BC House Buyer as our example.
When you’ve decided you want to explore the option of a home sale, you’ll have the choice of reaching out via telephone or filling out an online form and waiting for a call back (you can even just text or email-whatever you prefer!). Either way, you’ll hear from a Seller Service Representative who will be your first point of contact. Once connected, you’ll discuss what you need from the home sale, some details about the property and your history there, as well as what price you need for a private sale to make sense for you (and the cash buyer!). Once you’ve covered all the bases, and you feel confident you’d like to proceed with a home visit, the Seller Service Representative will organize a home visit from a Home Buying Specialist, which usually occurs within a few days–even as soon as the next day if possible!
During the home visit, the Home Buying Specialist will tour the property, take some photos and evaluate your home. Prior to arriving, the team would have done extensive research into the area, comparable sales, and any other critical information needed to curate a fair cash offer. After seeing the home, they’ll combine this data to provide an offer they feel is fair to both the seller and the cash buyer from an investment standpoint. If the price is deemed appropriate, the homeowner can accept the offer, and the process will move forward. If the homeowner decides to politely decline, there are no obligations, and everyone can walk away.
If the homeowner does accept the offer, they’ll be afforded the options of selecting a closing date and a few other details, such as if they want to leave any clutter behind, and they’ll be connected with a Closing Concierge. Think of the Closing Concierge as a typical hotel concierge–they’ll make sure the homeowner has everything they need for a smooth transaction, and are able to answer any question that may arise from then until the closing.
During this process, the home will be evaluated by partners and investors to ensure that the property is a right fit. Once this process is complete and the closing date comes up,, the property will close and the funds will be directed to the homeowners lawyer.
While this process may come across as quite extensive, this can all occur in as little as 3 weeks, from first phone call to funds being released to the seller. This is because BC House Buyer is able to move at a rapid pace, and can wrap up the process in about as much time as it takes for a single offer on the traditional market. If you or anyone you know is interested in a discovery call to explore your home sale options, give BC House Buyer a call today.