When Do I GET Paid After Selling My House?
One of the most common questions I get is: “When do I receive my money after selling my home?” While it might seem like a straightforward question, the answer depends on your circumstances and the type of home sale you pursue.
Traditional Home Sale Timeline
In a traditional home sale, you typically receive your proceeds on the closing date. Here’s a breakdown of the process:
- Listing Your Home – The process begins when you list your home for sale and start receiving offers from buyers.
- Buyer Due Diligence – Once an offer is accepted, the buyer must go through inspections, appraisals, and other contingencies.
- Closing the Deal – After all contingencies are met, the buyer secures financing, and the closing date is scheduled.
- Receiving Your Money – The buyer’s funds are processed, and you officially hand over the keys on the closing date.
Typically, once closing occurs, you can expect your funds to be wired into your account within one business day. If the closing happens in the morning, you might receive the money the same day. However, if it’s later in the day, the wire will likely arrive the next business day.
What Affects Your Final Payout?
It’s important to note that the amount you receive at closing is not necessarily the full selling price of your home. Various costs will be deducted, including:
- Realtor commissions
- Attorney fees
- Deed stamps
- Mortgage payoff
- Other closing costs
To understand exactly what you’ll walk away with, I can provide a Seller Net Sheet, which itemizes all your expenses so you know your final take-home amount.
Ways to Get Paid Faster
If you don’t want to wait for the traditional process, there are alternative methods that allow you to sell your home in Charleston and get your money faster.
1. Cash Offer
A cash sale is the fastest way to sell a home. Here’s how it works:
- A buyer makes you a cash offer.
- No repairs, negotiations, or financing contingencies.
- The closing process is typically completed in 4 to 7 days.
- You receive your money immediately after closing.
2. Get Paid Twice Strategy
If your home needs some TLC but you don’t want to handle renovations, the Get Paid Twice program might be for you:
- We close on your home in 4 to 7 days.
- After closing, necessary repairs and renovations are made.
- The home is relisted and sold at a higher price.
- You receive a second payment from the resale profits!
This strategy allows you to maximize your earnings without the hassle of making repairs yourself.
3. Cash Advance Program
If you need funds immediately before closing, our Cash Advance Program can help:
- You receive an upfront cash advance before closing.
- You get the remainder of your proceeds when the sale is finalized.
This option is perfect if you need money for relocation, debt repayment, or other immediate expenses.
Which Option is Right for You?
Choosing the best way to sell your home depends on your timeline and financial goals. When we meet, I’ll walk you through all your options, including a detailed Seller Net Sheet, to help you make an informed decision.
If you’re thinking, “I need to sell my home in Charleston”, let’s explore the best approach for you. Visit SoldWithDave.com for more details, or better yet, give me a call—I’d love to help you navigate the process smoothly and stress-free!