What is the timeline for a cash sale in Los Angeles?
Typically, your home can sell for cash in as little as seven to 14 days. Keep in mind that this isn’t always the case. If, for example, the county has tagged your home or there are liens against it, the timeline might be extended. Ortega shares a story:
“We recently worked with a seller who had moved out of state and hadn’t seen the home in more than five years. In the meantime, the county had put red tape all over the house. There was an abatement and the owner was instructed to tear it down. We were willing to work with the county on his behalf – take it off of his plate and make it as easy as possible. I bring this up because the escrow period can look very different for different people.”
Will a Los Angeles real estate agent oversee a cash sale?
It’s not unusual for cash buyers to work with real estate agents. Ornelas explains that homeowners may hire an agent for the added security of having a professional oversee the sale, vet the buyer, verify the funds, and get the best cash offer.
Sometimes, an agent will recommend a cash sale when a home has been sitting on the market too long. In some cases, Ortega says, if a home isn’t selling or if the homeowner isn’t happy with the agent, the real estate agent may let the homeowner out of the listing agreement without penalty.
“When you sell your home for cash, you’re sacrificing your equity for speed and convenience. If you want the best price on your home and you have time to wait, you need to go with a traditional sale. Keep in mind that if you’re listing your home as-is, you’re typically only going to get investors interested in a cash purchase. If a house needs a lot of work, it won’t qualify for financing. A real estate agent could potentially help you sell for a higher cash price to a fixer, but you’ll be paying up to 6% commission, so the net price might not be more for you,” explains Nerhood.
How do I find cash buyers in Los Angeles?
Finding a reliable cash buyer on your own can be overwhelming. To get started, HomeLight’s Simple Sale platform makes it easy and safe to get a convenient, no-obligation cash offer in Los Angeles.
Here’s how it works:
1. Enter the address of your Southern California home.
Answer a few quick questions about the property. Is it a condo in Silver Lake, or a historic house in Angelino Heights? Does it need a little work, a lot of work, or none at all? How soon are you looking to sell? It could be ASAP or in six months. Our easy questionnaire makes getting set up on the platform a breeze.
2. We’ll provide an all-cash offer within a week.
You won’t be obligated to accept any offer you receive. In addition, HomeLight can also introduce you to a top real estate agent in your neighborhood for an expert opinion on what your home is worth if sold on the open market. It’s good to know your options.
3. You sell your house in its current condition.
No additional repairs, prep costs, agent commissions, or hidden fees. This can save you time and money — on average, sellers spend 9%-10% of their home’s sale price on costs and fees, including things like home preparations and repairs. Fortunately, expensive foundation issues and older ACs are often no issue; HomeLight’s platform will provide a full cash offer for homes in almost any condition.
4. You can sell your house fast for cash in as few as 10 days.
A 10-day closing translates as selling your home more than four times faster than you would with a buyer who needs traditional financing. According to data from ICE Mortgage Technology, purchase loans typically take an average of 45 days to close. With a cash offer provided through HomeLight, you’ll also be able to pick a move date that works best for your schedule. That’s the ease of Simple Sale!
Selling your house for cash in Los Angeles
When you need to sell your home quickly in Los Angeles, it can feel overwhelming. This can be especially true if you’re in a financial bind or have a firm moving date. Fortunately, there are buyers and investors willing to pay cash for your Los Angeles home. And with a platform like Simple Sale, you’ll also see price estimates of what you might receive if you sell through a top local real estate agent.
Whether you’re selling a pristine midcentury home in Pasadena or a cottage in Venice Beach that needs a major overhaul, request a cash offer from a trusted cash buyer in Los Angeles whenever you’re ready to move.
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