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Are Companies That Buy Houses For Cash Helpful To House Sellers?

House with for sale sign out the front

Are Companies That Buy Houses For Cash Helpful To House Sellers?

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Are you in need of cash? One thing people do to get a considerate amount of money is through selling their houses. According to Trading Economics, there were 6 million previously owned U.S. houses sold in March 2021.

So, if you’re thinking of selling your current home, don’t fret. You still have a high chance of earning from selling your house. This is proven in the study of the National Association of Realtors wherein 87% of home buyers chose existing homes than brand-new ones.

The choice is yours if you will go the traditional way of listing your home with a real estate agent or sell it to companies that buy houses for cash.

Real Estate Agencies Vs. House Buying Companies

You’re on a roller coaster ride when you decide to sell your home on the real estate market. Before listing your property, you have to make sure that it will appeal to potential buyers. This means you may need to have it renovated and do some repairs. This step is important because the very best homes are the ones sold quickly in the competitive real estate market world. Check out this detailed article about selling a house that needs repairs.

The worst-case scenario that can happen if you don’t apply improvements in your property is that the listing will remain stagnant and will not generate interest. If you decide to work with a real estate agent, make sure that they are experienced and knowledgeable. It is their responsibility to help market your home and find you a qualified buyer.

If you want to speed up your home selling experience, look for companies that buy houses for cash. These are real estate investing companies that pay home sellers cash on the spot. No need to put any work on your house because they will buy the property as it is. If the house needs any repairs or renovations, they will be the ones responsible for doing those so they can resell the property in the market. Compared to real estate agencies, home sales will most likely take a few days rather than months.

More About House Buying Companies

House buying companies are pretty straightforward—they buy houses for cash. These companies usually fix and flip a property for resale. On the other hand, some of them opt to rent out the property. Others use the property for real estate investment purposes. They usually offer a lower price than what usually is offered on market value.

Cash home buyers also target sellers in a particular situation. For instance, homeowners who need to relocate to another location immediately can benefit from cash home buyers. House buying companies are also a big help for those couples in the middle of a divorce who want to get rid of their house. No matter what the situation you’re in, as long as you need to sell your house right away, home buying companies are the ones to contact.

Advantages of Working with Cash Home Buyers

Home seller sold his house to a cash home buyer

Image Souce

Most of us are used to going the traditional way of selling our homes, that is through a real estate agent. That said method may be helpful but can take a lot of processes. Fortunately, there is another way of selling a house as is quickly and efficiently. Take a look at these reasons why we should try contacting house buying companies:

Speed

One of the biggest advantages of trusting cash home buying companies is the speed of their process. Compared to an open-sale market, you can close significantly faster with their help. The average time to close a deal takes about seven to 14 days. In an average sale on the real estate market, a property may take up to 68 days to be sold.

Simplicity

Putting your house on sale with house buying companies isn’t complicated. You can save time and money from expenses like formal house listings, clean up, as well as discussions with a realtor. Also, since you won’t need the help of a realtor, this means you get to bring home all the cash accumulated from the sales. Typically, the realtor commission is a 6% split between the listing agent and the buyer’s agent.

Saves Time

When we talk about sales, we usually think of the concept of “putting our best foot forward”. In real estate, this means applying all the remodeling works just so a potential buyer can notice your property. And all these repairs just don’t finish in one day. The whole work may even take years to be completed. After the sales, you also need to wait for a closing period of up to 60 days or more. In companies that buy houses for cash, sales happen quickly. They buy the property as-is and closing periods are only a week or two.

Certainty

Even if you’ve successfully made a sale on the real estate market, there’s still a chance that your buyer’s financing may fall through. When this happens, you’ll go back to step one of finding a new buyer. With cash home buying companies, there is a lower chance of your sale falling through. No need to worry about your buyer changing their minds, being disqualified in a mortgage, or disagreeing with some of your sales terms.

Accepts Any Type of House Condition

Selling a house in poor condition is possible with house buying companies. It’s a huge benefit on your part as you don’t need to spend funds on extensive repairs or renovations. Get your needed cash quickly no matter what the condition of your home is.

The Typical Transaction Process

The first step begins with you contacting the home buying company. Then, they will ask for details about your house and its condition. A local representative will come over for an inspection and present you with an offer. If you’re pleased with the offer, you can then proceed with signing the purchase agreement and schedule the closing date. No need for you to wait for the bank to underwrite a mortgage because your buyer will be paying you cash.

In Closing

Wanting to get rid of your house immediately for cash? Contact house buying companies. They can buy your home without the need to have it repaired. This allows you to save your budget and time on other important matters.

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