Every year in the United States, over 5 million existing homes are put on sale.
So, if you’re looking to sell your home, you’re not alone. There are many reasons to sell an existing home. Perhaps you want to upsize or downsize or you’re relocating to another state.
Regardless of your reason for selling, you’ll find two kinds of buyers in the market: those who want to pay for the home in cash and those who want to buy with a mortgage.
Are you eyeing a cash deal? Good!
Read on for a guide on selecting cash house buyers.
But first off:
Why Is It Important to Sell a House for Cash?
Cash deals for a house are quick. This is ideal for homeowners who’re looking to sell their properties urgently.
Unlike a mortgage deal where the prospective buyer has to wait for the lender to review the application and disburse the money, cash house buyers usually have the money, ready to close the deal urgently.
Also, when dealing with a company that buys homes for cash, you don’t have to hire a real estate agent to help you with paperwork. This means you’ll pocket the money you’d have paid out as a commission to the agent.
The best cash home buyers will have a team ready to help you complete the paperwork and seal the deal. But how do you find these best buyers?
Is It an Individual or a Company?
A cash home buyer can be an individual or a company that specializes in buying homes for cash.
Why should it matter whether your buyer is an individual or a company? After all, the buyer just needs to make the payment.
Well, that’s correct, but it’s better to work with a company, especially if you don’t want to hire a real estate agent. An individual buyer might not offer you the support you need to close the deal without hiring an agent or attorney.
Plus, you’re less likely to be scammed when working with a company. An individual who wants to scam you can just show up from nowhere and you won’t have a way to prove whether they’re legitimate buyers or not.
Avoiding individual cash home buyers doesn’t mean you’re out of the woods as far as being scammed is concerned. You can still find shady companies that are out to scam you.
This is why it’s prudent to consider the reputation of a cash home company before accepting the offer.
Go online and look up the name of the company. Do they have a website? If not, that’s a red flag. If yes, look at how credible the site is. Is there a contact page with a valid address and phone number?
Next, look at the online reviews? Be wary of a company that doesn’t have any online reviews, as well as one with many negative reviews.
Finally, ask the company to refer you to a handful of their past clients. Don’t shy away from contacting them to ask about their experience.
Selecting Cash House Buyers Made Easy
When selecting cash house buyers, give preference to established companies. Ensure the company has a solid web presence and check out their local offices. If everything checks out, you can then proceed to do business with them.
Explore our blog for more helpful tips and advice.