How to Get a Sooner Closing Date on Your Home
Are you in the market for a new home? Are you finding that the process is taking longer than you expected? One of the main reasons for this is that sellers are getting more and more picky about who they’re willing to work with. If you want to speed up the process, there are a few things that you can do to make yourself more appealing to potential sellers. Here is a closer look at three tips you can use to make the process a bit faster and get a sooner closing date.
How to Get a Sooner Closing Date on Your Home: Offer Something to the Buyer
When you’re trying to sell your home, the closing date can be a make-or-break factor. If you need to close quickly, you may be able to sweeten the deal by offering something to the buyer in exchange for a sooner closing date. For example, you could offer to pay some of the buyer’s closing costs or include a piece of furniture in the sale. Or, if the buyer is having trouble getting financing, you could agree to carry the mortgage yourself. Whatever you offer, be sure to put it in writing so there’s no confusion later on. By being creative and flexible, you may be able to speed up the closing process and get one step closer to your next home.
Find a Cash Buyer
If you’re looking to close on your home sooner rather than later, one way to do that is to find a cash buyer. Cash buyers are usually investors who are looking to buy properties quickly and without too many contingencies. When you find a cash buyer you get to pick the closing date. This closing date is usually 30-60 days from the date of the offer. While you may have to sell your home for a slightly lower price, the convenience of a quick closing can be well worth it. So if you’re eager to move on to your next home, keep an eye out for cash buyers who can help make your transition smooth and stress-free.
How to Get a Sooner Closing Date on Your Home: Negotiate With the Bank
One way to try to get a sooner closing date on your home is to negotiate with the bank. The seller and buyers usually have different neighborhoods that they are looking at, so the sooner that the buyers can close, the better. The problem is that banks are very busy and they might not be able to accommodate the request. Another way to try to get a sooner closing date is to offer the bank a higher interest rate. The interest rate is how much the bank charges you for the loan. If you offer the bank a higher interest rate, then they will usually try to close your loan sooner so that they can make more money off of you. You can also try to get a pre-approval from another lender. A pre-approval is when a lender gives you a letter stating that you qualify for a loan up to a certain amount. This can sometimes pressure the first lender to close your loan sooner so that they don’t lose your business. There are no guarantees when it comes to trying to get a sooner closing date, but it never hurts to try!
If you’re looking to close on your home sooner, there are a few things that you can do to make it happen. By being flexible and creative, you can make yourself more appealing to potential sellers and speed up the process. So if you’re ready to move on to your next home, keep these tips in mind and see how fast the process can move.
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Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.