Today there is more than one way to sell a house. One of the popular ways to sell a home is through We Buy Houses companies. These companies are typically investors who will buy your property, fix it up and sell it for profit.
Like any other transaction, you should perform due diligence when dealing with them. You must always ask yourself, ‘are these the right people to buy my home?’ While there are many honest companies, there are still bad apples who are out there to scam people for their money. Moreover, you should also know whether or not selling to these companies is the best option for your situation. Here are important things you should know about ‘We Buy Houses’ companies:
They will buy your house regardless of its condition
What draws many sellers to these companies is that they will buy your house no matter what shape your house is. We all know that houses get old and eventually need repairs and upgrades. This is why people usually spend time and money in repairing, renovating and upgrading their house before putting it on the market. This way it would attract more potential buyers and sellers can get a desirable offer for their house.
However, not everyone has the luxury of time and money to do all these repairs and replacements. This is where it’s recommended to sell your house to cash house buyers who are willing to buy your house as-is. Some of them are even called We Buy Ugly Houses companies because even if your house looks like a mess, needs major repairs or even uninhabitable, they’ll still buy it.
They make the selling process simpler and faster
Most of these companies will take it upon themselves to do the legwork in the selling process. Since most of them have enough cash required to buy your home, the process becomes simpler and faster since no lender/bank is involved. In fact, you can close in less than two weeks.
You will get a fair offer with an honest company
Competitors will naturally say that you will end up losing money when you go for cash house buyers. But you should know that the offer you will get is based on justifiable factors including the value of your home, necessary repairs, closing costs that will be covered by the house buying company, and the location of the property.
The cost to sell a home on the average is about 7.5 percent of the total sales price plus repairs needed and price haggling from the buyers. You can get a fair offer, and you should also consider the fact that you won’t have to pay for real estate agent commission fees. So despite having your house sold to less than its market value, it can still be compensated if not break even because there is no real estate agent fee involved, no repair costs, and the closing costs are covered.
More than just the offer, what makes cash house buyers appealing to sellers is that they allow you to sell your property faster, it’s more convenient, and there’s very minimal chance of the sale falling through.