In this edition, we will explain what the “we buy houses” thing is really all about. The pros, the cons and some of the things to consider when you sell your house to a cash buyer or investor.
The “we buy houses” companies are often run by investors and other real estate professionals who make a living flipping houses. They have the leverage to pay in cash and turn their investments around quickly. Be aware, there is a difference between investors promising quick cash for ugly houses and an all-cash offer from a homebuyer. When selling your home to a cash buyer, it is crucial that you find someone who is honest, credible and does what they say they’ll do. Selling to the right buyer could easily mean tens of thousands of extra dollars in your pocket at the end of the day. Plus, it can determine how smoothly the process goes from start to finish.
So what’s the catch? Take a closer look at selling to a “we buy houses” company.
Quick house sale (“we buy houses”) companies:
For people trying to sell their homes quickly due to a job change, a potential repossession, needing to sell an inherited home out of state, or other emergency life circumstances, quick house sale companies can seem attractive.
- No pressure to do repairs or make improvements
- No house staging, showings or real estate agent required
- Fast sale and access to cash
- Selling house below market value
- Potential for getting scammed by a con artist preying on desperation
- Potential Hidden fees and contractual agreements
“We Buy Houses” Scams
Unfortunately, there are some scams that prey on home sellers looking for quick all-cash sales. If you’re in a desperate situation, these bad actors might try to prey on your bad luck — so it’s important to always vet any potential buyer before parting with your home or personal information.
While most people have the ability to sell their home the traditional way, using a real estate agent or selling it on their own; there is a small percentage of home sellers that need alternative ways to sell their house because, well. . .life happens.
When life happens, not all house selling circumstances are created equal. It would be ideal if everyone had a “market ready” house to sell but that is not always the case. Sometimes there are issues that need to be resolved by a professional or cash home buyer.
Here are some special situations where you might need to sell your house to a “We Buy Houses for Cash” company:
- Selling Time Frame
- Costly Repairs
- Updating Needed
- Out of Town Ownership
- Title Issues
- Multiple Owners
- Will Not Pass Inspections
- Job Transfer
- In Foreclosure
- Death in the Family
- Lost Job
- Burnt Out Landlord
- Fear of Showings
- Hoarder Relative
- Owe More Than the House Is Worth
- Just Want to Sell ASAP
As you can see there are many situations and circumstances where a traditional home buyer might not be an option. Most traditional real estate agents will try to make it seem like they can sell anything but that just simply isn’t the case. Many circumstances require different strategies to sell.
If you are in such a situation or circumstance contact a “We Buy Houses for Cash” company or person in your local area near you to see if they can help you out. The easiest way to find one is to Google: “We Buy Austin Houses for Cash” or “Austin Cash Home Buyer”, etc… You will see there are many companies to choose from.
Like we said earlier, when selling your home to a cash buyer, it is crucial that you find someone who is honest, credible and does what they say they’ll do. Selling to the right buyer could easily mean tens of thousands of extra dollars in your pocket at the end of the day. Plus, it can determine how smoothly the process goes from start to finish.