Have you seen those “we buy houses” companies advertising online or on television? They announce, “we buy houses for cash,” but are they serious? If so, how much cash are they talking about?
There are a variety of reasons you might want to sell a home for cash. The need to handle the sale and move quickly might outweigh your desire for a great offer. Maybe you stumbled into home ownership through an inheritance. Perhaps you have an old cabin or vacation home that you can no longer manage. As long as you’re willing to settle for a lower offer, there are plenty of companies out there who will buy your home for cash. Many of these “we buy homes” companies will buy your home regardless of the condition it’s in.
Selling Through a “We Buy Houses” Company: How it Works
The people who run “we buy homes” companies are investors. They’re looking to buy homes with cash so they can profit off them. Most of the time, they will renovate and flip the home. Another possibility is that they will turn the home into a rental property.
The process is simple. The first step is to fill out a form or make a phone call requesting more information. Next, you’ll speak to the investor or a representative from the investing company. You’ll need to fax or email some paperwork. From there, the company will likely handle most of the process for you. The only thing you’ll need to do is wait to receive payment. This is especially helpful if you’re selling a property in a remote location.
The company will determine the value of the property before giving you a cash offer. Keep in mind that the offer will usually be 65 to 90 percent of the total value of the property. You won’t make as much money, but for many people, the convenience is more than worth the difference.
Cash transactions are also much faster than regular sales. A traditional home sale with financing can involve weeks of paperwork. This is on top of the months or even years it could take to find a buyer. Cash transactions can wrap up in as little as 72 hours.
We Buy Houses for Cash: Choosing Your Investor
If you’re okay with accepting a slightly reduced offer, using a service to buy your home for cash is an excellent option. That doesn’t mean that every company is the same. There are real estate scams out there, so it’s wise to choose a company with a good reputation.
Our company buys homes for cash using a quick and hassle-free process. We believe we can beat the competition by making an excellent cash offer on your home. We’ll make offers on homes in any condition, so whether you have a run-down farmhouse or luxurious vacation home, we’re ready to take it on.