No realtor? No commission? CASH?
You’ve probably seen those cash house buyers signs that say “We Buy Your House For CASH” along the side of the road. But is this really legit?
Not only is it legit, but for some sellers, it’s the perfect solution to sell their home.
Those Cash House Buyers May Be Your Best Friends
If you’ve ever sold a home, you know the deal. You clean your home, you purge, you stage. You make all those costly repairs that you’ve meant to do for years. You hire a realtor, stick a sign in your yard, and sign a binding contract to hand over 6% of your sales price as commission.
And then, you wait….
Every weekend, you grab the dog and the kids and get out of the house in anticipation of a showing. If you have a good realtor, you are inundated with them. At first. The showings taper off. And then, nothing….
I Don’t Have Time for This
Sometimes you just don’t have the time, the economic situation, or the incentive to wait for the traditional real estate dance. You may be:
Going through a divorce, job loss or transfer
Going through financial woes such as a bankruptcy
Your home may be in foreclosure or you just want to get out of a troublesome mortgage
Your home may be a repair nightmare and not very marketable.
Your home may be vacant and eating precious resources
You may simply have tried the traditional route and your listing expired. If you’re thinking “I’ve got to sell my house fast,” then you know you’ve got to act quickly!
You’ve Heard the Phrase “Buyer Beware”
In this case, it’s “seller beware”. Unfortunately, your cash house buyer may be a scam. Make sure you are your own best advocate.
Do your homework. Is your cash buyer not local? Do they seem too eager? Are they unprofessional? Look for warning signs before you sign on the dotted line.
So How Do Legitimate Cash House Buyers Do It?
Even in hot markets, there are homes and economic situations that make a traditional real estate sale lengthy, complex, and overwhelming. A traditional mortgage lender looks for a pristine borrower and an equally pristine home and follows stringent qualification guidelines. This may rule your home out entirely.
It may be time to take a different approach.
Cash house buyers are professional investors and can offer a legitimate solution to some sellers. They don’t charge fees. They don’t need to wait for mortgage approval. They don’t care if your home is pristine.
What Should You Look For?
The advantage of a cash house buyer is you will get an as-is, cash offer and a quick closing with no closing costs involved. But how do you know if the company you are looking at is a legitimate company that you can trust? Here are some things to look for in a reputable company:
Do they have a website that clearly states their business name and physical address?
Check public records to see if they have any recorded conflicts or issues.
Check Better Business Ratings and local review sites. Look for testimonials and check actual client reviews. Call them to see what their experience was.
When you can’t wait for a traditional real estate sale and need a quick, reliable sale, cash house buyers can be the answer for sellers who want to sell their house fast. Share your tips for quick house sales with us below.