How Cash Brings the Fastest Close
Closing on a house with a cash buyer can be much faster than with a buyer using traditional financing, as it eliminates the need for lender approval and some of the associated processes.
Let's Explore Some of the Ways You Can Expedite the Home Closing Process in Oklahoma with a Cash Purchase:
Prepare All Documentation in Advance
Title Search: Ensure the title is clear by conducting a title search early. This will prevent delays if any issues arise.
Deed Preparation: Have the deed and any other necessary legal documents ready to go.
Disclosures: Prepare all required seller disclosures and have them ready for the buyer to review.
Set Up a Pre-Inspection and Negotiate Terms Beforehand
Identify Issues by conducting a home inspection before listing the property. Address any major issues to prevent delays during negotiations. Before accepting the offer, agree on a quick closing date that works for both parties. Cash transactions can close in as little as 7-14 days if everything is in order. Also, if possible, negotiate to waive or limit contingencies, such as the inspection or appraisal contingency, which can speed up the process.
Use an Escrow or Title Company Experienced in Fast Closings
Work with an escrow or title company that has experience with quick cash transactions is essential. They will be able to handle the paperwork and title transfer efficiently. You’ll also want to ensure that all parties (buyer, seller, escrow officer) are in clear and consistent communication to avoid any misunderstandings.Set Up a Mobile Notary
Signing documents can be time consuming. Whenever possible, use a mobile notary to have documents signed quickly, without the need for all parties to be in the same place at the same time. If either party is not local, consider a remote closing where documents can be signed and notarized electronically which allowed in the state of Oklahoma.
Be Responsive and Have Funds Ready
Be ready to respond immediately to any requests from the title company. Even the smallest delays in communication can significantly slow down the process. Plan in advance for a smooth funds transfer. It’s a good idea to arrange with both the sending and receive banks ahead of time to ensure a speedy and secure transfer of funds. Since this is a cash transaction, ensure that the buyer can transfer the funds quickly on the agreed-upon closing date. Ensure both parties coordinate with their banks to avoid any delays in the wire transfer process.Have a Closing Game Plan
Schedule a pre-closing walkthrough as close to the closing date as possible. This reassures the buyer that the property is in the expected condition and avoids last-minute disputes. Agree upon a simple and quick closing process. Cash transactions keep closings simples with fewer documents since there’s no lender involved. If available, use electronic signing options to expedite the process further. Finally, choose a closing location that is convenient and minimizes travel time. In some cases, closing remotely or at the buyer’s location can speed up the process.
By following these steps, we can close on your house with a cash purchase in as little as a week, though a more common timeframe is 7-14 days. The key is preparation, clear communication, and working with professionals who are experienced in fast transactions.
This is where EZPay Cash comes in. We are experience professionals who know how to close fast and make the process super easy for you. Find out how EZ it is to turn your house into cash.