According to the companies, a homeowner with a qualifying property who lists with Coldwell Banker will have the option of receiving a cataLIST Cash Offer from cataLIST to purchase their home. Within five days after receiving the cataLIST Cash Offer, the homeowner can either accept the offer or market the home for sale through the traditional listing process. If the sellers accept the cataLIST Cash Offer, the closing can generally occur in as few as 10 days, subject to obtaining clear title to the property, the companies added. The program will be offered on a pilot test in the Atlanta and Greater Dallas market areas in October and will expand into Tampa markets later in the year, with the goal of further expansion into 2019.
"Sellers who choose the cataLIST Cash Offer can benefit from the convenience of a quick sale without having to continue to pay tax, insurance, and mortgage for the property while its being marketed," said Bill Young, CEO of Home Partners of America. "Additionally, sellers who accept the cataLIST Cash Offer can close any time within a 90-day window, making it easier to facilitate the move into a new residence. Sellers will have greater negotiating power on their next purchase knowing they have a cash contract on their existing home with a quick closing."