You tell yourself, ‘I want to sell my house fast,’ but the bigger question should always be whether this would be the best option for you. And if it is, which path should you follow? The truth is that there has been consistent growth and evolution in how people transact in the real estate industry. More and more people tend to prefer selling their homes for cash. Further, they are moving away from selling homes traditionally, and now embracing new methods.
Why would I sell my house for cash? Cash transactions will often assure you of a more streamlined process. You will be sure of the deal getting completed soon and enough money at your disposal within a short time. Well, there are other vital benefits too.
Should I sell my house fast to companies that buy for cash? Every day you walk on the streets, you will see real estate companies advertising themselves. Each one promises swift deals for anyone who wants to sell their house. And yes, they buy houses for cash.
There has been an increased popularity of these companies that buy houses for cash. But perhaps it would be best for you to confirm how genuine they are. In this light, we seek to explore how reliable these companies can be.
Are these companies legit?
There is no reason to doubt the legitimacy of these companies. Most of these companies are not only genuine but also very reliable. However, like any other industry or business, some could scam you. In this light, ensure that you confirm their licence.
With these companies, you are sure of investors who are ready to buy houses in any condition. The transaction is usually in cash and will be completed within 72 hours.
Naturally, this process is hassle-free. Once you decide that ‘I want to sell my house fast for cash,’ all you will need to do is contact the company. This company will help in determining the value of the property.
Once the market value of the property is established, you will get an offer. Often, the offer is lesser than the real value of the home. The next thing would be accepting the offer and consequently receiving your cash. The process takes a relatively short time.
However, this option would only be best for distressed sellers or those who are ready to accept a lower amount compared to the market value. Usually, these companies offer between 65 and 90% of the value of the house.
Perhaps you are asking yourself who these buyers are. Usually, these companies are groups of investors, house flippers, or iBuyers.
For house flippers, they will often buy a revenue-generating property and sell it afterward for a profit. However, they assure you of immediate cash to handle whatever issue you have at hand. They will take the time to renovate the house and give it a touch of elegance before reselling it. In most cases, the poorer the condition of the house, the lesser amount you are likely to receive.
Let’s now talk about investors. These people will often buy the house and hold it for a specified period. During this time, they will take up the remodeling and repair of the house to give it a new lease of life. They hope that they will land on a buyer that will provide them with a more rewarding deal.
Then we have the iBuyers. These are tech-savvy and data-driven buyers who also rely on automated valuation models. This model does not offer them much profit. It is for this reason that they tend to focus on a relatively significant volume of properties to realize better rewards. The good thing is, they will give you better rates in the long run.
What you will note about a genuine company
As mentioned earlier, these companies have different rules. However, for as long as the company is legitimate, you will surely witness various similar traits.
Some of the things that they will stand out in this process, from time to time, include the following.
• Most of these companies will buy the house in its present condition. However, they will factor in the cost of repair in the final value that they capture. In most cases, the cost of repair will be dependent on how run-down the house is. Usually, they will inspect the property through professional valuation experts. As such, you will be sure of getting fair values down the road.
• They will allow you to bypass various contingency clauses. You will not need to worry about the buyer backing out of the transaction for one reason or the other. Once you have agreed on the terms, you will be good to go.
• Some investors can allow you to rent back the house for a specific period. This way, you will not be in any hurry to move out.
Why would I sell my house fast to a cash buyer?
We have many benefits that come with choosing to ‘sell my home’ to these cash buyers. Perhaps, understanding these reasons would have a positive impact on your long term decision.
• There is a little chance of the deal falling through. Once the investor sees your property and gets its value, they are most likely to offer you a reasonable offer. The transaction will only be off the table if you choose to decline the offer.
• You will not need to worry about repairs, renovations, or even remodels. This way, you will hardly feel the burden of looking for extra cash when you are already cash-strapped.
• The companies will buy your home regardless of the reason. Whether you are facing foreclosure, alimony, financial distress, or any other matter, you will be sure of getting enough money to move on.
• This process is usually swift. In most cases, you will need to wait no more than 72 hours for the transaction to be completed. This duration is relatively friendly.
In conclusion, companies that buy houses for cash are reliable and genuine. For as long as you choose the right one, you will have nothing to worry about. However, scams could be there too. If you find yourself saying “I’d like to sell my house fast for cash,” know that you have a number of reliable options in cash buyers. You will still however, want to ensure that you avoid any company that features any red flags.