4 Best Ways for Selling a Home in Washington

If you’re looking for a fast close in an all-cash sale, then the private sale is a perfect match.

This sales option doesn’t require you to wait to market your property to find a buyer, and then have more delay while that buyer searches for a loan, makes an application, and then goes through all the lender hoops to qualify.

You also won’t have the risk that the buyer will be turned down for a loan, or your home won’t qualify for the sale price once the lender’s appraisal has been done.

There’s another advantage to a private sale: you are able to keep your personal life private.

There aren’t any photos of your home posted in print ads or on the internet for the general public to view.

A private sale eliminates the need for broker previews, open houses, and the constant stream of the general public touring your home with little or no warning.

When you sell a property in Washington privately, your home will sell quickly and for cash.

Let’s explore the private sale in more detail in the next segment.

What Are Home Buying Companies?

Home buying companies focus on Washington real estate investment opportunities that they close quickly in all-cash sales.

Washington real estate investors develop business plans that include purchasing a rental property as an investment to hold as a regular source of income.

Other local investors purchase houses that can be repaired and resold to other buyers.

The majority of investors look for a combination of various types of properties and investment options, from single-family to manufactured housing and mobile homes.

A number of investment companies will even buy vacant land in residential communities and commercial properties.

Home buying companies purchase properties in as-is condition. They’ll buy homes with damage, and sometimes with major structural flaws.

When you sell your house to an investor, you won’t need to do serious repairs or small fixes.

Investors have one thing in common: they bring cash. That means the transaction can close quickly. There’s no qualifying, property appraisals, or in-depth inspections with renegotiations.

Some homeowners find a private sale extremely attractive, including those:

• selling a home to avoid foreclosure
• selling a property with renters
• selling a house after a bankruptcy discharge
• selling a house in poor condition
• selling an estate home
• selling a house with unpaid property taxes
• selling a hoarder house
• selling to downsize to a smaller home
• selling a marital property during divorce
• selling a house for a job relocation
• selling a house by private sale

Cash home buyers typically work with investor-friendly title companies in Washington State. They have experience in cash sales, and moving quickly to close.

Pros of Selling to a Home Buying Company

• When you sell your home for cash to an investor, the sale will be quick.

• Washington cash house buying companies bring cash, and that allows for more certainty. There’s no delay for mortgage qualifying, appraisals, and inspections required by lenders.

• There’s no need to make your home move-in ready. Investors buy homes in as-is condition.

• When you skip agent representation, you’ll avoid commission fees.

• Cash buying professionals typically pay both sides of the closing costs to sell a house.

Cons of Selling to a Home Buying Company

There’s another consideration when selling a home in Washington to an investor.

• Offers from Washington cash property buyers typically don’t match resale value.

It’s true that investors are in business, and they must earn a profit to stay in operation.

But there’s more to the final price than simply the price listed on the sales contract. Sellers need to consider the net proceeds rather than simply the selling price.

You don’t have agent commissions in an investor sale, so that allows huge savings. And cash investors generally pay your side of the closing costs. That’s another great savings that isn’t reflected in the contract price.

What the investor offers you is basically what you walk away with, unlike a Realtor-assisted sale where you must deduct your closing costs and real estate commissions from the offer amount.

So when you compare your walk-away cash from the sale, an investor offer might be the right choice, considering the ease and speed you get with it.

Our next segment provides some guidance in locating a professional investor.

How to Find an Ethical Home Buying Company

Like all trades and professions, there are less-than-ethical companies operating in Washington State.

Sellers need to find professionals who have the expertise and experience to close quickly at a fair sales price. You can locate investors who have those qualifications by screening them.

Start your vetting by making a list of prospects. Collect names from mailings you receive, online ads, media commercials, and recommendations from friends and coworkers.

Add names from an internet search to your list. Use terms such as “cash home buyers,” “sell your house for cash,” or “we buy homes in any condition.”

Specify your city in your search request to bring up local buyers from your search.

Check out the websites for the investors’ experience and expertise. The site should include that information on an “About Us” or a similarly titled page.

Ethical investors will not hide their identity and will share about their experience. If the website doesn’t include this information, pass on that investor.

Look for a minimum of three years in the investment field and a list of memberships in professional real estate associations and community organizations.

Consult the Washington State Office of the Attorney General for any legal filings against the investors on your list.

It’s then time to check consumer feedback on sites like Yelp, Real Estate Bees, and the local branch of the Better Business Bureau (BBB).

There’s also a faster way to do this vetting. We’ve prescreened the investors partnering with us for their professionalism, expertise, and experience in buying homes for cash and closing quickly.

Simply request a cash offer on your house by using the short form on our website.

You won’t pay a dime for anything. There are no commissions, and the vetting and offers are free. And there’s never any commitment to accept any of the offers you may receive.

The traditional approach to selling a home in Washington has a real estate agent take charge of all the sales duties from the listing and marketing through the final escrow period where the legal documents transfer ownership.

Who Are Real Estate Agents?

Real estate agents are trained professionals who handle all aspects of your sale. They have completed coursework and have passed exams covering contracts, marketing, real estate law, and title and escrow procedures.

They are your legal fiduciary. That means they can act on your behalf for the sale of your home. By law, they must put your best interests first when you are selling a house in Washington.

Agents using the title of “Realtor” are members of the Washington state branch of the National Association of Realtors. The trade group holds their membership to high standards of ethics and professionalism.

Evaluating the advantages and disadvantages of using an agent can help you in making a decision to use a Realtor.

Pros of Using a Real Estate Agent

• Agents have experience in selling a property in Washington. Your agent can handle the complexities of any sale.

• Realtors use proprietary information that helps you to set a competitive price on your home.

• Your agent is your fiduciary, and they’ll handle the sale so you can go about your usual day without needing to worry about managing the sale of your home.

Cons of Using a Real Estate Agent

• The most significant downside of broker sales are the costs of selling your house with a Realtor. Washington home sellers pay approximately 2.5% to 3% of the property’s selling price as a commission to their agent.

• Marketing is a time-intensive part of the selling process. It takes weeks, sometimes months, to locate a buyer. Your agent will continue to market your home during this time. That means home showings and open houses while you wait for an offer.

• Typical buyers usually need a mortgage to purchase a home. That requires you to wait while your buyer works through the loan process. Even when a buyer’s preliminary application has been pre-approved, it still takes weeks, or sometimes longer, for final loan approval.

Your agent is the facilitator of the sale, and locating a good one is important. The next segment provides some tips to finding a quality real estate professional.

How to Find a Good Real Estate Agent

Great agents typically work exclusively on referrals from prior happy clients. Ask your family, neighbors, and coworkers for their recommendations.

Focus on agents with at least three years in the industry, advanced certifications in sales methods, and experience selling homes in your neighborhood.

Look at local consumer websites for any comments about your list of prospects. Yelp, Real Estate Bees, and the local branch of the Better Business Bureau are good places to begin.

Once you have narrowed your list down to two or three prospects, invite those agents to do a listing presentation for your specific house.

Select the agent with the best skills and marketing plan for your home, and then sign a listing agreement with their brokerage.

The next sales method is for homeowners who like to take charge of everything involved in the sale.

Homeowners can sell as a “for sale by owner” (FSBO) listing. FSBO sellers take charge of all aspects of the property sale.

The first step for the homeowner is to complete the property condition disclosure statement. That disclosure requires you to identify any material damages or health risks associated with the property.

The next step is to set a sales price. You can use a home value calculator to assist you in determining that.

FSBO listings also require you to understand the legal rules for contract law and title and escrow proceedings.

Locating prospective buyers for your home can be the most challenging part of an FSBO sale. There are a few things to make that job easier.

Ways to Market Your House Yourself

• Signage can help put eyes on your property. Make sure your signs offer multiple ways interested buyers can make contact with you.

• Create a walkthrough video of your property and post it online. YouTube and Instagram have a number of users that look for homes by using those websites.

• Make up a flyer for your home that lists the features that are attractive to buyers. Distribute these to prospective buyers when they tour your home.

• List your home on FSBO websites to advertise your property. The more eyes on your property, the greater chance for selling your home.

Selling your home yourself requires a huge amount of time and energy. When deciding to go it alone, it helps to evaluate not just the advantages but the downsides as well.

Pros of Marketing Your House Yourself

• FSBO sellers save their side of the real estate commissions. That’s savings of approximately 2% to 3% of the sales price that would have been added to your Washington closing costs if you have used a Realtor’s services.

• You are the boss of everything related to your sale. Nobody else has control over the decisions you make.

• Your property is your only focus. You don’t have other clients demanding your time and efforts.

Cons of Marketing Your House Yourself

• The legal requirements a seller must observe are overwhelming for some homeowners.

• You don’t have anyone reviewing your actions. Every move is your responsibility.

• Unless you have mastery of the sales process, you might have delays. Too many delays, and your buyer may back out of the sale. If you make a major mistake, you may end up in court for mismanaging the sale.

• Unless you’re familiar with FSBO closing costs, you may not understand that some are negotiable. Failure to do that may have your proceeds be less than they would be if you used a Realtor.

Our last sales option has the homeowner buying and selling as part of the same transaction.

You’ve found the perfect home, but there’s a snag: you own a home that isn’t even on the market.

There’s an answer to this dilemma. You don’t need to list your home and hope for a fast sale.

You also don’t need to buy your new house by using a contingency that will allow you to back out if your home doesn’t sell.

Most sellers don’t view either of these options favorably, but there’s an alternative you can use.

Washington iBuyers will purchase your home and give you the cash equity to quickly secure the purchase of your new home. Once that’s done, the iBuyer will close on your current home!

We’ve introduced four ways to answer the question, “How to sell a house in Washington?”

Our next segment gives you an overview of what the selling process looks like.

Before Signing a Purchase Contract

Long before you sign the listing contract and begin accepting sales offers, you’ll need to decide on the sales approach you want to use.

This determines the amount of preparation you’ll do on your home to ready it for the market.

Buyers from the general public like to see turnkey properties where they can simply move in without doing anything, not even minor repairs.

That means you’ll probably have some preparations to do to attract those buyers. If you sell to an investor, your only job is to request an offer.

Washington law requires all buyers to complete a property condition disclosure, and the federal government mandates a lead paint disclosure.

Our article outlining what happens when you sell a house as is in Washington provides more details about the individual disclosures.

Marketing the Property

Marketing also depends on your sales method. You’ll need signs, advertising, and open houses to attract buyers from the general public.

Cash investors only need a request for an offer. There’s no marketing involved.

Accepting an Offer

Offers using all sales approaches will be accompanied by an earnest money deposit. That deposit will be transferred to an escrow agency when you accept an offer.

The escrow process is handled by an independent third party. They’re responsible for handling the legal paperwork and money involved in the transaction.

While a real estate attorney isn’t legally required to supervise a Washington State property transaction, you or your buyer may elect to hire a lawyer to assist in the process.

Buyer Due Diligence Period

Due diligence describes the time when your buyer obtains a mortgage, orders title searches, locates policies for hazard and title insurance, and hires home inspectors.

As a seller, you will facilitate a home appraisal and home inspections. When the reports don’t meet the sales price or the property disclosure, you may need to have additional negotiations with your buyer and handle their real estate counteroffer.

You’ll avoid all that time and hassle when you sell to a cash home investor. They bring cash to the sale, so you’ll skip mortgages.

Investors have done their inspections before writing an offer, so you won’t need to make accommodations for any additional inspections — and the delays that entails.

Once all the mortgage, inspection, insurance, and title details are handled, you’ll sit down with the escrow agent for a formal review of the closing costs. This is required under federal law.

When you sell to an investor, you won’t be charged for commissions when you forego use of a Realtor. Investors also typically pay your closing costs.

The last step in the due diligence period is the buyer walkthrough of the property.

Closing

Closing is the time for buyer and seller to sign the legal documents sealing the sale. You’ll turn over your keys to the new owner, and the new deed to the property will be notarized and filed.

It’s wise to check with the County Register of Deeds to confirm the document has been filed correctly and the transfer recorded.

We’ve covered the most common approaches to how to sell a home in Washington.

It’s now time to start collecting names and vetting iBuyers, real estate agents, and cash home buyers.

We can assist with your search for professional home buyers. When you ask for an offer by using our website, we’ll connect you with our partnering team of investors.

We’ve vetted the local cash buyers for their expertise, professionalism, and their long experience in closing all-cash sales quickly.

Request cash offers now by completing a short and easy online form.

There’s absolutely no charge to you for the offers. And there’s never an obligation to sell.