Finding someone to pay cash for a home used to be uncommon. There weren’t as many investors, so you usually sold to typical homebuyers.
But the same isn’t true today. Many investment companies buy homes to make money. As a result, 26% of home offers are now for cash.
Are you wondering if we buy houses companies are worth doing business with when selling your home? Keep reading to learn what selling your home for cash is all about.
How Do We Buy Houses Companies Work?
A we buy houses company invests in real estate property. They usually invest in distressed properties that owners don’t want to fix.
They do this because they believe they can improve the house and sell it for a profit. They will flip the house or hold onto the property after they’re done. If they hold on to a property, it’s to rent to other people to get an income.
Let’s take a look at the process you can expect.
Submit an Application
Selling to one of these companies works a bit differently than a regular real estate sale. You don’t list your property on the market. Instead, you submit an application to a cash-buying company.
In most cases, you can fill out an online application. Most companies also have a phone number if you want to speak to someone from the company.
Schedule an Inspection
The next step to doing a we buy houses deal is to get an inspection. The company that buys your product will schedule an inspection of your property.
They do this because they need to find all the potential issues in your home. These issues will impact your price, so the more you have, the less money you’ll get for your property.
Get an Offer
The offer stage is the next part of the we buy houses process. The great thing about this process is there aren’t any complicated contracts you get with normal sales. Instead, you get a simple offer a few days after the inspection.
In most cases, you’ll get an offer within seven days. This is great if you’re in a hurry to sell your home and get cash.
Finalize the Deal
It’s on you to close the deal after you get an offer. You can try to negotiate a better price once you get an offer, but you probably won’t get close to your asking price. These companies are in it to make a profit, so they need room to make money after repairs.
Once you finalize the price of the house, you’ll be ready to sign the paperwork. You can then close in under a few weeks and get cash for your home.
Contact a We Buy Houses Company Today
It’s not always in your best interest to invest in fixing up your home and waiting for a regular buyer to come along. You may need to make a quick move and offload your house quickly.
That’s where we buy houses companies help. You’ll get a fair offer for your home and be able to close quickly without complications. Contact companies that buy houses for cash today to learn your options.
Check out the blog for more helpful tips for other common life situations.