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Do you know when to verify assets?
Receiving a cash offer can be quite exciting. Since there is no lender involved, it typically results in a faster closing date, allowing sellers to receive their payout quickly, often within a few days. However, amidst the excitement, it is crucial not to overlook the importance of verifying assets, also known as proof of funds. Just as a serious financed buyer should present a pre-approval letter, a serious cash buyer should be ready to provide proof of their assets or funds at the time the offer is made.
Regardless of a home's attractiveness, if the asking price is unreasonable for the current market conditions, selling will be challenging. Let me assist you in determining your home's fair market value.
Considering selling without an agent? Read these statistics from the National Association of Realtors regarding For Sale by Owner sellers.
FSBOs typically sell for less than the selling price of other homes; FSBO homes sold for a median of $380,000 in 2023 (up from $310,000 in 2022), still far lower than the median selling price of all homes, which was $435,000. Agent-assisted homes sold for a median of $435,000. [1]
Getting the price right (17%), selling within the length of time planned (13%), and understanding and performing the paperwork (10%) were the most difficult steps for FSBO sellers. [2]
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