A few years back, when a homeowner wanted to sell a home, it was only through a real estate agent. They listed a home on the MLS and followed a lengthy process. But now, due to the advanced technology and availability of several more options, homeowners have tons of choices.
The homeowners who are in a hurry to sell a home or need immediate money to buy a new property can connect with cash home buying companies. It does not take time for you to get a decent offer and buying and selling a home can be a matter of a couple of days.
When you want to know “how to sell my home by owner”, you also need a guide that will help you know all about cash house buying companies, how to sell your home for cash, and which are the top cash buying companies.
How to sell your home for cash?
Several companies have been revolutionizing the basic way of selling a home. In cash home buying,
- The sellers get an offer within a maximum of 48 hours of putting the house on the listing.
- The buyers provide cash amounts.
- The price of the home remains to be around 70% to 90% of the FMV or Fair Market Value.
- The price of the home depends on the condition, age of the property, and the location of the home as well.
- iBuyer companies pay a better amount that We Buy Houses companies.
- There is no need for open houses and showings when the home seller aims to sell the home quickly for cash.
Options of cash buying companies
Here are some of the available options for Cash Home Buyers.
"We Buy Houses for Cash"
“we buy houses for cash” are the cash home buyers who follow a traditional approach. They buy old and distressed houses. The houses that are facing foreclosures, are old or inherited, homes that have structural damage and need a major repair, and more is preferred. They offer cash of around 50% of the fair market value of the home. They work by ensuring getting the repair done to the home and then re-sell the property at a better price.
These buyers have swept away a major market share. iBuyers companies buy homes by offering instant cash as per your convenient date of closing. They flip the house after purchase. By using the latest technology and high-end processing of the data, they crack an algorithm and provide a quote to the sellers. The owners get instant cash and they close the deal within a few days.
Retail Cash Buyers
To know how to sell my home by owner, you need to know about this option. The buyers who are looking forward to buying a property make it their primary home or as a rental home. These buyers pay a decent amount of money and buy a home for cash. Sometimes, the buyers may apply to finance companies to get cash. They pay as per the Fair Market Value (FMV) of the property.
These are the investors who want to keep the property to make it a rental house and get themselves a regular income. This way they recover the cash payment. Sundae is one of the national investors who bid on properties and provide 50% to 70% of the FMV of the home as cash.
Top Companies that buy houses for cash
The cash home buying companies are listed below:
Houzeo is one of the most popular names in real estate. This is a full-service company. They help their clients sell house fast for cash by providing them with the right leads without charging like a traditional real estate agent. They offer services to allow you cash buying services and charge the lowest real estate agent fee in return.
If you want a smooth experience of selling your home and also provide maximum exposure to your property, then Houzeo can reach your cash buyer. Upon listing with Houzeo.com, your MLS listing also reaches other real estate websites like Zillow, Realtor.com, Redfin, etc. It ensures that you get the best price too.
Houzeo also focuses on providing you flexibility as well as a reasonable moving-out and closing date. Houzeo has listed many top cash home buyers such as Opendoor, Offerpad, etc. who make competitive cash deals. With Houzeo, you get maximum cash with zero Houzeo hidden fees and enjoy high-tech services, excellent customer support, and more.
One of the best companies that buy houses for cash is Opendoor. The company began operating in 2014 and is today one of the leading iBuying platforms. It buys homes directly from sellers. The company provides a no-obligation offer to the sellers within a few minutes. Usually, Opendoor buys homes in the range of $100,000 to $600,000. Some Opendoor transactions have been over $1.4 million too.
Opendoor is open to buying homes of various conditions. The companies also buy houses that include unfinished work too. Opendoor operates available in 45 metro areas nationwide. They levy a service charge of 5% and also charge a closing cost. Opendoor makes an initial offer as per the market value for that house.
Redfin is also a multi-real estate service provider. It offers various services to people including selling a house fast for cash. They help the sellers who want to sell their homes for cash at a discounted fee. The owners can sell directly to Redfin for cash. Redfin usually makes an offer within a day. The seller has five days to accept the offer or choose a different option. When the home inspection is complete, the final offer is presented to the buyer which deducts the repair costs. RedfinNow charges a convenience fee starting from 5% to 13%. The sellers are allowed flexibility and they can pick the move-out date according to their convenience.
Selling a house can be a daunting task. It can make you nervous too. Sometimes it takes months and even years, and due to this, it is bound for any homeowner to become worried and disappointed. But if you are in a hurry to move out and shift to your next location and need cash as soon as possible, then connect with one of these companies to sell your home for cash.
These companies charge a specific amount and buy houses by making fast and decent cash offers. They also ensure quick deal closing. While some companies buy houses in the condition – as is, some may need a minor renovation or upgrade.