Sneak Peak on How We Buy Our Houses
There are many reasons why owners would want to sell their houses. They probably need immediate funds or own a property that they want. For some, selling a house is as easy as searching for how to "sell my house" on the internet and get many results from companies that say "we buy houses," with a phone number to contact and a promise to buy your house quick and easy. Why do these companies offer to buy your home in cash? As one of those companies, we'll give you an idea of how we buy our houses.
We Buy Houses
Selling a house doesn't need to be complicated. Some companies offer cash up-front, especially if you own prime real estate or the location is very attractive. Most of these offers don't require contingencies or appraisal because they don't need mortgage loan approval. The whole selling process can take as little as 1-2 weeks. If you have a suitable property and are willing to sell it at a reasonable price, the selling process will take only four main steps.
Communicate with an Agent
Let us know that you want to sell your house and why. We'll walk you through the processes involved in the sale and what you need to do to get it closed. You don't need to put your house on any property market listing in the same way that we don't need to look for a buyer for you. We are your buyers, and we are the only person that you need to talk to. There are no middlemen or mediators, and there are no realtors to pay.
Set up an Appointment
Once you understand the processes involved, we can set up an appointment to discuss further details and inspect the property. The inspection will only include looking at the current conditions of the house to assess its market value. We will not require you to make repairs or any other adjustments during this stage. If it meets the buying criteria, we will inform you of the next steps and the documentation you will need.
If we have agreed on the price, we'll present you with a fair and written no-obligation offer. The offer is on the table, and you can either accept it or think about it for a few days. The deal is on the table; all you just need to do is take it or walk away. If you accept the offer, we can close the deal. If you decline the offer, no hurt feelings.
Close the Deal
Once you decide to accept, we can meet at a licensed Attorney's office to sign the deed and exchange cash in hand. It's that simple. You don't need to keep your house in the market listings for months or worry about frequent buyer viewings. The whole process can be closed within 1-2 weeks.
Who Are the "We Buys Houses" Companies?
Companies that buy houses for cash have various reasons for doing so. They are not necessarily buy-and-sell companies. Some companies will buy houses and turn them into a rental property, especially if their conditions and locations are in a tourist area or major cities. Other companies will buy worn-down properties, do some minor renovations, and then sell the property with a hefty mark-up from the original amount they paid.
Buyers will look into several factors, including the house's current condition, location, amenities, additional features, and security. Of course, as a buyer, their main goal is to get profit from their investment. So the value of your house will depend on the buyer's perspective.
The process with which we buy our houses is to get a comparative analysis of the other properties in your area. By doing so, we'll get a fair estimation of what your property is worth in the market. That way, we can offer you a reasonable price that you will not regret in the future. You will be selling your property fully aware of its actual value.
Advantages of Selling with "We Buy Houses" Companies
Selling your house for cash through these types of companies sounds like an excellent idea. For one, it is very different from a traditional house sale. For one, you don't need an appraisal before closing the deal. The inspection will happen only to see the property's current conditions and the actual location, but it is not a contingency that you need to worry about.
There is no mortgage approval required to fund the sale. Bear in mind that "we buy houses" companies want to buy your house at the quickest time possible, and they have the cash available to pay the seller. So they will not waste any time or effort in a property appraisal.
The best part about a cash offer is that it's quick and easy. You don't have to worry about multiple buyer viewings or to keep your house clean and staged for months at a time. In a cash deal, only one or two inspections are required to close the deal.
Things to Avoid when Dealing with "We Buy Houses" Companies
Getting a call from a company that offers to buy your house in cash sounds like a jackpot for homeowners who want to avoid the complications involved in selling their house. However, there are other things to consider before accepting an offer right away. Give yourself enough time to do some research and understand the options available for you.
Cash on a Whim
The biggest regret that most sellers have when accepting offers from "we buy houses" companies is the impulsive decision to sell their houses. A few months of financial difficulty should not be the reason for selling your house. It should be thought of and planned carefully before making a move and contacting a representative.
Too Good to be True
Some sellers grab the opportunity to get cash right away in exchange for a home that they don't have the money (or the time) to repair. Supposing your house requires some plumbing or repaint that would cost you $1,000 to complete, selling your home for an amount that is less than the amount of the repairs is a bad idea.
Get estimates on your house repairs from professionals to get an idea of how much you need to spend on repairs. Then get an appraisal on the property from reputable real estate agents to know your house's value in the market. Once you get an idea, compare it with the offer from "we buy houses company." That way, you will see if you are selling at a reasonable price and getting rid of possible headaches from a significant renovation or getting short-changed from the house sale.
Watch out for Scammers
"We buy houses" companies that look out for desperate house owners who need a fast influx of funds. Although their transactions are perfectly legal, they take advantage of this desperation to purchase properties at rock bottom prices. Even if you need fast cash, always consult a reliable real estate agent to verify the offer's legitimacy and process due diligence when closing the deal.
Getting a Good Deal out of "We Buy Houses" Companies
When selling your house, don't accept the first offer on the table. Instead of searching how to sell my house on the internet, just scout around for reputable real estate companies in the area. The agent can inspect and appraise your property to get an estimate of its market value and make recommendations of possible repairs.
Once you know how much you need to spend or not spend on repairs, you can then contact companies offering to buy houses in cash. Try to talk to one or more companies, then compare their bids. Get the services of a legal practitioner to check the legitimacy of the drawn papers. If you do this, you can be sure that you will get the best deal for your home.
There is absolutely no shame in needing money. If you need fast cash and the only option is to sell, we can buy your house. The process of how we buy our houses is easy and hassle-free. Just follow the steps we mentioned in the beginning. Once you get in touch with our representatives, you will get a call requesting a viewing schedule in a few days. And it all starts from there. Don't fall for the promise of a quick and easy sale. Do your research and trust only experts in the field. Always check your options and decide accordingly.