ClickCease

September 18, 2024

What is the Quickest a House Sale Can Go Through?

What is the quickest a house sale can go through

Selling a house in Sacramento fast can be a big plus for many homeowners whether you need to move quickly, are facing financial hardship, or just want to avoid the hassle of a long selling process. But how fast can a house really sell in Sacramento? In this post, we’ll look at the factors that affect the speed of a sale, cash buyer sales vs traditional sales, and give you tips on how to speed up the process in Sacramento.

How Fast Can a House Sell in Sacramento?

Fastest Sale: Cash Buyers in Sacramento

In Sacramento, a house can sell in as little as 7 to 14 days if you’re working with a cash buyer. Cash sales eliminate the mortgage approval process which is often the longest part of the transaction. Since cash buyers don’t need a loan the sale can move faster with fewer delays and no risk of the buyer’s financing falling through.

In rare cases, both parties are prepared and the paperwork is complete sales can close in just a few days. Some extreme cases have shown houses can sell in as little as 4 hours in other markets under perfect conditions.

Real Estate Auctions and Quick-Sale Companies

Other fast-sale options in Sacramento, that are not as reliable, are selling through an auction or using quick-sale companies. Auctions can sell your home in 7-14 days especially if your home is in a high-demand neighborhood like Midtown Sacramento. Quick-sale companies like Opendoor or RedfinNow can close in 7-14 days depending on your home’s condition and market demand.

Cash Buyer vs. Traditional Sale in Sacramento

A man standing in front of a house

Cash Buyer Timeline

Cash sales close much faster, often in 7 to 14 days. This is because cash buyers don’t need mortgage approval or appraisals which can save weeks. These buyers are often investors or individuals who need to close quickly so they offer a straightforward path to a fast sale.

Fewer Contingencies: Cash buyers usually waive contingencies like financing or inspection contingencies so the sale can move faster.

Less Delays: Since there’s no loan underwriting the sale can close without waiting for lender approval.

Traditional Sale Timeline

On the other hand, traditional sales in Sacramento can take 30 to 45 days mostly due to the mortgage process. Buyers who are financing need to go through a longer process that includes mortgage approval, appraisals, and home inspections which can add weeks to the timeline.

Mortgage Approval: Mortgage approval takes 2-4 weeks where the buyer’s financials are reviewed and an appraisal is done.

Inspections and Appraisals: These are more common in traditional sales and can lead to renegotiations or repairs which can add days or weeks to the process.

Contingencies: Traditional buyers may have financing, inspection, and appraisal contingencies which adds more steps to the closing process.

Cash Buyer Flexibility

Cash buyers are more flexible than traditional buyers. They can adjust to the seller’s timeline whereas traditional buyers have to wait for their lender’s timeline.

Pricing

Cash buyers offer lower prices than traditional buyers to compensate for the convenience and speed of the sale. But in Sacramento’s competitive market, cash offers can be closer to market value, especially in high-demand neighborhoods like East Sacramento and Natomas. In hot areas sellers may find cash buyers will meet the asking price to close quickly.

What Affects Quick House Sales in Sacramento

A house in northern California

Sacramento Local Market

Sacramento’s market is affected by many factors including demand, seasonality, and the overall economy. Sacramento is considered affordable compared to neighboring areas like the Bay Area so it’s attractive to buyers. This can speed up house sales, especially in areas like Arden-Arcade, Elk Grove, and Curtis Park.

Also, the market moves faster during peak seasons like spring and summer when buyer demand is higher. Sellers who list their homes during these times will see quicker offers.

Cash vs. Financed Buyers in Sacramento

Cash Buyers: Investors and all-cash buyers are more prevalent in Sacramento than in many other parts of the country especially in areas like Midtown Sacramento and East Sacramento. These buyers are looking for properties they can buy quickly and either rent out or flip so they are perfect for fast sales.

Mortgage Buyers: Traditional buyers who need financing will take longer due to the mortgage process adding 30-45 days to the timeline.

Property Condition and Sale Speed

Move-in ready homes sell faster, especially in popular areas like Natomas and Elk Grove. Homes that need major repairs will face delays due to inspections and renegotiations. Cash buyers are more willing to buy homes in “as-is” condition so the sale can close faster.

How to Sell Your House Fast in Sacramento

A house for sale

Price Your Home Competitively to Sacramento’s Market

Pricing your home competitively is the number one factor in a quick sale. Overpricing your home, especially in Sacramento’s fast-moving market can lead to delays and fewer offers.

Research Local Sales: Look at homes that have recently sold in your area to get an idea of what your home is worth. In areas like Curtis Park or Midtown homes sell faster when priced right.

Use Online Tools: Redfin and Zillow have data on local home prices and market trends to help you price your home right.

Get Your Sacramento Home Ready for a Fast Sale

Curb Appeal: Sacramento’s Mediterranean climate makes drought-tolerant landscaping a big plus for buyers. Update your yard with low-maintenance plants and fresh exterior paint to get more attention.

Stage for Energy Efficiency: Buyers in Sacramento are looking for energy-efficient homes. Highlight any eco-friendly upgrades like solar panels or smart thermostats that will make your home stand out from the competition.

Work with a Cash Buyer like Property Sales Group

Working with a cash buyer like Property Sales Group will speed up the house sale process, a stress-free and efficient alternative to the traditional way. Property Sales Group handles all cash transactions which means no mortgage approvals, no appraisals, and no long inspections.

This process not only shortens the closing timeline to days but also reduces the chance of last-minute delays or complications. Sellers will benefit from the straightforward process and get competitive offers for homes that would otherwise be sitting on the market. By choosing a cash sale with Property Sales Group, homeowners in Sacramento can sell fast and smoothly and move on to their next adventure.

Legal and Financial Considerations for Fast House Sales in Sacramento

A man standing in front of a house

Streamline the Legal Process in Sacramento

Title Searches and Escrow: Sacramento County requires title searches to make sure there are no liens or legal issues on the property. Choose an efficient title company to speed up the process and an experienced escrow company to get the paperwork done quickly.

Hire a Real Estate Attorney: A Sacramento real estate attorney can help you avoid legal pitfalls. Having legal representation is especially important for quick sales as they can make sure all contracts and disclosures are done correctly.

Closing Costs and Fees

Common Closing Costs: Sacramento sellers should expect local costs like transfer taxes, title insurance, and escrow fees. Knowing these costs upfront will prevent any last-minute surprises that could slow down the sale.

Financial Incentives for a Quick Close: Offering to pay some of the buyer’s closing costs or negotiating a quick close will motivate buyers to move fast and reduce the overall sale time.

Actual Fast Sales in Sacramento

Case Study 1: East Sacramento Cash Sale

A homeowner in East Sacramento sold their house in 10 days. The buyer was a cash investor. By having all the paperwork ready and pricing the home right, the seller got a fast offer and a smooth transaction.

Case Study 2: Auction Sale in Midtown Sacramento

In another case, a property in Midtown Sacramento sold at auction in 7 days. The seller chose to sell at auction to speed up the process and got multiple cash offers from investors. The auction brought out multiple bidders and the property sold for more than expected and closed fast.

Conclusion: Fast House Sale for You in Sacramento?

A house in northern California

You can sell your house fast in Sacramento but it requires the right plan. Whether you choose to work with a cash buyer, sell at auction, or a traditional real estate agent the speed of your sale will depend on your preparation and knowledge of the market. By pricing your home right, preparing for showings, and working with experienced professionals you can get a fast sale that works for you.