What Does A 'We Buy Houses' Company Look For In Your Home?

By
Services for Real Estate Pros with Oyoy Inc.

They want to make a profit, which they can easily do if your home needs a little bit of work.

The offer that you receive will be based upon the value of the house, minus the amount of work that needs to be put into it, plus their ability to make a profit from this type of transaction. 

When you receive your offer, this is what you need to keep in mind. 

What Is The Process That Typically Occurs? 

The process that occurs will be you will talk to them about purchasing your home. They will evaluate your home based upon what it looks like, the work that needs to be done, and its location. 

They will also consider how much of a mortgage you currently have, if any, and then they will be able to negotiate a price with you that will be fair for everyone involved.

For example, if it is a free and clear home, one that is valued at a couple hundred thousand dollars, they will take this into account as they make their offer.

Is It Better To Wait For A Potential Buyer?

It depends on your situation when making this judgment call. Listing your home can take a lot of time and effort and there may be other factors involved.

For example, if you move out of state and need to sell fast, these are great companies to work with. Once you have accepted their offer, it will go through escrow, and you will receive a check for the home, and they will own your house from that point forward. 

This will prevent you from having to worry about trying to sell it for several months or renting it out to someone that may not pay your rent. 

It is also a good idea to put tens of thousands of dollars into the home to make sure that it can be resold. They will take care of all of this for you and augment the offer they are making accordingly so that both you and the cash house buyer will be happy with the total amount of the transaction. 

This overview of finding and utilizing we buy houses companies will set you in the right direction. You will check the classifieds, Yellow Pages, and listings online to see all companies that offer this service. 

You will know what to expect when they make an offer and how quick the transaction will be. Based on the reviews that you read, you can choose the best we buy houses company to sell your property to.

 

Comments (2)

Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It seems that people are swayed by what they think is a good offer and once they find out that with the fees and such it isn't such a good offer, they are in too deep.

Aug 24, 2021 05:38 AM
Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Great information for sure

Aug 24, 2021 06:02 AM