There are a million reasons you might have a hard to sell home–anything from an outdated kitchen to storm damage. If you already know selling your home will be difficult, chances are you are looking for a solution. The most convenient and straightforward way to sell a home with structural issues, storm damage, or any other obstacle is to sell to companies that buy houses in any condition.
For most people, this process can feel uncertain and overwhelming. And understandably so. You’ve likely never sold to a home buying service before and may have even heard they are a scam. And while the process may feel unknown, it doesn’t have to be scary, and it doesn’t have to be complicated. In fact, you may find quite the opposite.
Selling to a house buying company opens up a world of opportunity for people who need to sell fast or avoid putting a lot of money into repairs. At the end of the day, you’ll find that the process is easy, a professional will guide you through every detail, and you will have more options for your future.
Understanding home-buying companies is the key to alleviating the stress of working with one. If you are looking at selling a house as-is or selling a house for cash, here are five frequently asked questions about working with a home buying service:
1. How Do Home Buying Companies Work?
Real estate investors exist to make money, but they also offer a valuable service to a specific demographic of homeowners. They offer cash on hard-to-sell properties, invest in the renovations that the home needs, and then sell the home at a markup that reflects the work they have done. This creates an alternative for homeowners who might not otherwise be able to sell their house on the multiple listing service (MLS).
While investment companies don’t always offer top dollar for properties, they do provide a quick and easy sale. Homeowners can unload a house that has become a burden, and the real estate investor will get paid for the time and energy that goes into resale.
2. What Types of Properties Do They Buy?
Because of the nature of real estate investing, these companies look for properties in rough shape. Damaged properties create the opportunity for them to generate greater profits. Homes that seem like too much work for the average buyer are often very appealing to a home buying company. There are a handful of situations where people find they need the help of a home buying service to sell a property:
- The need to sell fast, often due to divorce or job relocation
- A storm or natural disaster damaged the home
- The house has fallen into disrepair
- The home has extensive foundation, structural, or roof damage
- The house has a significant pest infestation or termite damage
- The home was tragically involved in a violent crime or death
Regardless of the circumstances that led to a home’s disrepair, an investor can take on the hard part of bringing it back to life. It’s not uncommon for homeowners to feel they simply don’t have the time, energy, or finances to give a house the love it needs. This is precisely why home buying companies offer such a valuable service.
3. How Do I Know If the Company Is Legitimate?
People are often wary of working with companies that buy houses for cash because they’ve heard they can be scams. And while there are companies out there that run illegitimate operations, there are also really good, kind real estate investors who also want to make sure they take care of the people they buy homes from.
How do you know if a company is trustworthy or not? You do some research. Start by going to the Better Business Bureau website and search for the company. Their grade will give you a good indication of their business practices.
Next, ask for proof that they have the cash to proceed with the deal. A legitimate home buying company has money in the bank to finance its operations and should be able to back that up with proof.
Lastly, they should not ask you for any initial or additional fees. These companies will make money off your property; they do not need to charge you additional fees to do that. If someone asks for a registration, listing, or processing fee, they might just be looking to pocket that money and ditch town.
4. What are the Benefits of Selling to a Home Buying Company?
In the right circumstances, home buying companies offer an invaluable service. They allow people to find freedom from a house that has become a burden. As a result, working with these companies has some distinct benefits:
- You can close on your timeline. You can sell your home in as little as a week, but you can take more time if you want. You get to choose the closing date and set the terms of the timeline.
- Cash sales offer increased flexibility over traditional sales and allow you to work with your investor to accommodate your individual circumstances.
- You do not need to prepare your home to go on the market—no repairs, staging, or holding showings.
Selling to a home buying service is quick and easy. You can avoid the headache of listing your home and ensure your own timeline is met.
5. Should I Sell to a Home Buying Company?
Buyers shouldn’t fear selling their homes to a house buying service, as these companies offer some advantages. This service isn’t for everyone, but it provides a life-changing opportunity for sellers looking to sell their houses fast. Whether you need an expedited sale or simply can’t afford to repair your property, a cash buyer offers you a solution.
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Understanding home-buying companies is essential for reducing the stress of working with one. If you’re considering selling a house as-is or for cash, this infographic answers five common questions about working with a home buying service.
