You want to sell your house, and your first step is doing some research. Your research begins with internet search. You try various keywords such as “how to sell my house,” “sell my house now,” “selling house quickly,” “make money by selling house” on Google search. you will find links to real estate agents, real estate companies, property dealers, property investors, real estate investment companies etc. If you scrutinize the search results, you will also find “we buy homes for cash” business, companies and agents.
Since you want to sell your house and sell it fast, you will check the links to these “we buy homes for cash” business, companies and agents. Now, this might overwhelm you because most of them are promising you to buy your house in a week or no more than six weeks. They also promise to give you the best value for your property. As an incentive to the property sellers, these “we buy homes for cash” business, companies and agents also offer free evaluation of the house and option to buy “as it is.”
So, how do you choose the company, business or agent that offer to buy your house instantly? The first criterion for choosing the right buyer is whether the company, business or agent is based in your city. What else? For guidance, you can ask a professional real estate adviser. However, his answer might surprise you.
If the real estate advisor has good knowledge and experience, he will tell you, “Do not go to these ‘we buy homes for cash’ business, companies and agents.”
Here are the reasons why “we buy homes for cash” business, companies and agents are not a good option to sell your house:
- They want to make fast money from you by offering lowest price of lowball buyers.
- Usually, they pay 65 percent of the actual value of your house, sometimes even less, depending on the repairs needed and the market health. When they ultimately sell your house, they sell for 85 percent and more.
- Since these companies are in the process of making money quickly, they focus on the house that has resale potential. Most of the time, they will deal with a house that costs them less than $125,000.
- Their price will be based on what you owe. For example, you have a debt and you want to sell your house to clear your debt. They will offer a price that matches your debts. If your house is mortgaged and you have a labiality of $7500, these “we buy homes for cash” business, companies and agents will pay only the amount that you have to pay.
You want to sell your house quickly and we buy homes for cash” business, companies and agents are not a good option to sell your house. So what do you do now?
Instead of going to these opportunist buyers, you can go to the real estate companies and agents who have years of experience of buying and selling properties. You can also do cheap and easy cosmetic touches on your house which will increase selling value.
You can also try other options as well. Instead of selling your house, why don’t you rent your home or give it to someone on a lease-to-own option.
Of course there are some benefits of selling your house to these “opportunist investors.” You can sell your house quickly and you can sell it in “as it is” condition. However, you should choose “We buy your home for cash” option as a last resort. If you have to go with this option, get in touch with as much company, business or agents as you can and choose the one that offers you the highest amount.