With advancing technology and applications, today’s fast paced businesses, lifestyles, and interactions have only been sped up even further. Many businesses are now designed and executed at light speed to fulfill any whim of their customers. One of those businesses that’s been affected by the every expanding internet is the business of buying houses fast for cash. Now with the internet or an app at our fingertips in every aspect of our lives, why not home buying?
Here at Houston Capital Home Buyers we’re committed to meeting our customers’ needs as quickly and efficiently as possible. We’ve written this article to give you our best practices on selling your Houston home fast! Here, we understand that through many of life’s twists and turns, there are home owners who find themselves in a situation, through no fault of their own, where they may need to sell their house as quickly and efficiently as possible. Whether it is from a sudden job move, a natural disaster, an inability to afford an inherited home or a myriad of other reasons. No matter what the reason is, we’re dedicated to making sure you receive the best service possible.
Technology is available for many tasks and it is available in abundance. This is also true with home buying and selling, however, there area few things you should be aware of up front. All reputable home-buying companies will still use a title company for most, if not all, of their closings. While communication and document delivery has been increased to warp speed with the internet, the title company still has to physically search and read the chain of custody of the title to ensure it is clear. This process typically takes three to five business days. This means, that even though Docusign and email have allowed us to get contracts created and filled out faster than ever, once the contract is complete and delivered to title, there’s at least a minimum time of 3-5 business days before the file can close properly.
There are other options for closing, but any reputable person, that’s actually capable of buying your house fast with cash funds, will want title insurance. This means at a minimum, if you meet a buyer who doesn’t want to do any inspections and your price is pre agreed upon, it will take almost a week to close the deal correctly and legally. Many homeowners either don’t understand this or get convinced of something different only to find out later they’ve been had and will have to wait this standard time to close regardless.
All companies that purchase homes professionally also prefer to use TREC promulgated forms. TREC is the Texas Real Estate Commission, which creates and maintains all standard forms for use in process of buying or selling a home. The reason you should insist on using these standard documents is that they’re designed to protect home owners, even though they require a little more effort to fill out and dictate the timeline of closing a house, making it take slightly longer, they are designed with your safety and protection in mind.
Homeowners should also insist on having a HUD or closing statement. Though this and other documents are expedited again by technology, they are produced by a title company, which as discussed above takes some time. This time, ultimately is worth it to ensure the sale of the house is properly recorded and all associated fees are paid properly. This will prevent the IRS and other taxing authorities from coming after the homeowner years later.
Finally, homeowners should understand how final closing works. We typically let homeowners know that if closing doesn’t take place early in the morning, it’s sometimes can take at least a day for the funds to be wired and fully transferred to and from the appropriate banks. Even though technology has made wire transfers instantaneous, there are still multiple layers of human interaction and approval that have to take place. When large sums of money like those associated with the buying and selling of homes are transferred it often takes a couple of hours, which means if the transfers aren’t initiated early in the morning many bankers will leave them sitting in their inbox while they take the rest of the day off.
When trying to gauge the length of time it will take to sell a home these are all factors we encourage homeowners to keep in mind. This will ultimately prepare them for the most successful sale possible. Here at Houston Capital Home Buyers we take pride in being honest and up front about what is possible and we also take great pleasure in serving the needs of prospective home sellers. We hope this list gives you a good place to start when asking questions about timeline while you decide who to sell your house to.
All the best, Brant Houston Capital Home Buyers
“We Don’t Buy Every House, But We Help Every Client”