The purchase agreement
Once you accept an offer, you and the investor sign a purchase agreement. It sets the price, the closing date and who pays which costs.
Read it closely and ask questions about anything unclear. Many sellers have a real estate attorney review it.
The agreement may also cover the earnest money deposit, any inspection period and what stays with the house. Everything you agree on should be in writing.
Keep a signed copy for your records. The closing company will also receive a copy to guide the closing.
The walkthrough
Many investors visit the house before or soon after signing. The visit confirms the condition you discussed.
You usually do not need to clean or repair anything first. Our walkthrough guide explains what to expect.
If the investor has already seen the house, this step may be done before you sign. Either way, it usually takes a single visit.
It is also a good time to ask the investor about next steps and the closing company they plan to use.
The closing company or attorney
A neutral party usually handles the closing. Depending on your state, this may be a title company, an escrow company or a closing attorney.
Settlement agents or attorneys manage the money, oversee the signing and send the deed for recording. Some states expect an attorney to be involved.
The closing company works for the transaction, not for one side. It follows the instructions in the purchase agreement.
You will usually hear from the closing company soon after signing. They may ask for your ID, payoff details and HOA information.
The title search
The title company searches land records and other public documents. The search documents the ownership history and can surface items to clear before closing.
Common items include a mortgage payoff, an old lien or an owner who still needs to sign. The closing company usually works with you to resolve them.
A title report summarizes what the search found. The closing company uses it to prepare the documents for closing.
If something needs attention, the closing company will usually tell you what is needed. Many items are cleared with a signature or a payoff letter.
Title insurance is often part of closing too. Who pays for each policy is set in the purchase agreement and can follow local custom.
Closing day
At closing, you sign the deed and other documents. Some closings happen in an office. Others can be done with a mobile notary or, where state law allows, remote online notarization.
The closing company then records the deed with the county.
The closing company will explain each document. Take your time and ask questions before you sign.
If a co-owner lives elsewhere, they may be able to sign separately. Ask the closing company how to arrange it.
- Bring a valid photo ID
- Bring keys, garage openers and any codes
- Confirm how you want to receive your funds
Why a cash sale often feels simpler
Cash buyers do not need a mortgage approval. That removes several steps that can add time to a traditional sale.
There are usually no showings and no repair requests from a lender. Many sellers find the process calmer as a result.
Receiving your funds
After closing, the closing company pays off your mortgage and any agreed costs. The remaining funds are sent to you.
Many sellers receive funds by wire transfer or check. Confirm wire instructions by phone with the closing company before sharing bank details.
This is general information, not legal or tax advice. Ask a tax professional about any tax questions on your sale.
Keep your closing documents in a safe place. You may need them later for your records or for tax filing.
General information, not legal or tax advice.