Home Buying in Pittsburgh>Question Details

Pghbuyers, Home Buyer in Vienna, VA

If i am depositing a check may 1st, how long after it clears can I place an all cash offer on a house and what paperwork do I need to do so? Thanks!

Asked by Pghbuyers, Vienna, VA Tue Apr 23, 2013

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Thanks for posting your question on Trulia.com!

You can write your cash offer anytime as long the bank will issue a letter stating the funds are in your account. How long it takes to clear is up to your bank, Check with them.

Paperwork? Not sure what you mean. Hire a full time, professional Realtor and you will be all taken care of.

Best of luck.
0 votes Thank Flag Link Tue Apr 23, 2013
You can put the offer in anytime, but generally the seller will require some sort of proof of funds (e.g., the bank statement showing funds on deposit). It's up to the seller what they'll accept.

Then, in order to close, the title company will have their own requirements. Since it's cash, they will probably not "source" the funds (i.e., verify where they came from, as they always do when a mortgage is involved). The title work required (preparing the deed, ordering lien letters, etc.) will generally take a lot longer than it takes a check to clear, so that shouldn't be a problem.

You can hire a Realtor to represent you in the transaction; your buyer agent will then handle writing up the offer and all other associated paperwork through closing. Good luck!
0 votes Thank Flag Link Tue Apr 23, 2013
Check with a Settlement Company; depends how quick they can do the title work neeeded to close:

American General Services Inc. Address: 429 Forbes Ave, Pittsburgh, PA 15219 Ph:(412) 263-5000

Settlements LLC 412 922 6095 SettlementsLLC@gmail.com

Once you know how quickly you may be able to close, I can write up a contract. Most banks hold out of state checks a few days so wiring funds is quicker. You need a Cashier's Check to bring for closing

Janice 412 596 6035
0 votes Thank Flag Link Tue Apr 23, 2013
That depends on your bank's policy. You'll have to check with them when you can use your cash. However, you can make an all cash offer as soon as your bank statement is updated.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Tue Apr 23, 2013
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