If you are a homeowner in the Denver Colorado area who is interested in selling your home for cash, then you must make sure that you do your due diligence, and are able to accurately understand the home selling process, and how it works when you deal with a local cash investor.
Steps To Selling A Home In Denver, Colorado:
1. Reach out to investors, and other cash buyers in Denver – The very first step is to start reaching out to as many cash buyers in the local Colorado area as possible to determine what your property is worth, and then you will have a better understanding of what you are likely to get for your home. The key is to make sure that you contact at least 3 of these companies, that way you can get an average price that your home is worth, and you can use that number when contacting more companies in your local area. Another important part of this process is to make sure that these companies are able to give you a quote within 1 business day. If it takes any longer, then they probably are not a reputable company, and you should move on to another investment firm that may have some more experience dealing with sellers on a consistent basis. If you approach an investor, and let them know that you have already been taking offers from other companies, then they will be more likely to present you with a higher offer, thus increasing the value of your property. Follow these steps if you want to sell your home without a realtor in Denver Colorado.
2. Research potential cash buyers in your area – Once you have told the cash buyer about your property, now you must research different companies in the area to see what types of reviews they are getting. This is where online review sites such as Yelp and Manta will come in handy. You will be able to get an accurate understanding about how this process works, and what the overall consensus is regarding that companies business ethics and standard operating procedures. If you see that a company has several negative reviews from customers in that local area, then the best course of action is probably to bypass that one, and move onto the next organization on the list. You don’t want to put the sale of your home into the hands of an amateur, who has no experience buying houses in your local area. You want a solid company that is built on a foundation of trust and hardcore work ethics, and is 100% committed to helping their clients achieve the maximum price possible for their home. If you find through your online research that there are significant doubts about a particular company, then it’s probably best to avoid them altogether, and choose another option from the list of cash buyers that you previously compiled in step 1.
3. Compare the offers – Once you have researched several different companies, and have received some offers, now it’s time to compare the offers to see which one is the highest. Although it’s important to consider that sometimes the company with the highest offer might not always be the best one to deal with. For example, you may find that a particular house buying company will have a higher offer, but they will be less experienced in the home buying process, meaning that the deal will have a higher chance of falling through. With this information in mind, it’s probably better to choose a company that has a track record of being able to close on the deal and actually purchase the property, instead of making a high offer and then backing out of the deal at the last minute. If you inherited your house and it’s still in probate then you will want to check out our other article on how to sell your home in probate in Colorado.
4. Choosing The Offer – When it finally comes time for you to choose the offer, you must remember to run through a short checklist of items in order to make sure that you are involved in a quality deal. First of all, never use a company who doesn’t use a title and escrow company. Essentially, what a title agency does is play the middle man during the deal, and they will hold the cash from the buyer and transfer the title once the cash transaction has been made. If you choose not to deal with a title company, then you open yourself up to all sorts of scams that can be run, so it is definitely not wise to go that route. Always deal with a title and escrow company when selling your home, and this will cut down on 99% of all problems and scams that you would potentially be exposed to when not taking this route during the home selling process. Also, as mentioned previously, it’s not always best to go with the highest offer, you want to first make sure that the company that you are dealing with can close on the deal fast, in as little as 7 days.
5. The Closing – After you have chosen the company that you want to deal with, and you are confident about accepting their offer, now you can open an escrow account with your local title agency and you are ready to approach the final closing. Now, all you have to do is make it to the final closing table, and ensure that your buyer actually shows up! One way of doing this is to ask them to pay “earnest money” down on the property, which is usually $100 – $500. The title company will hold this money until the date of closing arrives, upon which both parties will show up and finish the deal. If for some reason the buyer doesn’t show up, then you get to move on and choose the next cash buyer down the line. But if you were smart at the beginning of the process, and spent enough time finding the right cash buyer, then you shouldn’t have any trouble at all during the closing period.
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