Selling your house for cash may be entirely new to you, and you probably have a lot of questions. The good news is that we’ve worked with countless homeowners in your exact situation and learned the most common questions that arise. We’ve consolidated them all here, along with our answers.
We hope this educates you on how we operate. But if there is something else you’re curious about that we haven’t answered here, feel free to contact us or give us a call, and we’d be happy to discuss it with you. We’re here to help!
Will you be listing my house on the MLS or actually buying it?
A. Great question. We’re not agents, and we don’t list houses. We are professional home buyers: We buy houses Nationwide that meet our purchasing criteria. Frothier we may repair the house and resell it to another homeowner or keep it as a rental ourselves.
How long will it be until I get an offer?
A. We strive to get an offer to you as quickly as possible. But at the same time, we want to make an offer based on your property’s current condition and your situation. Because of that, we typically don’t make an offer until we’ve had a chance to meet with you and view the house. And trust us – it’s better this way! That way, we can give you a confident offer based on reality.
Here’s how our typical process works. We’ll first have a phone conversation with you to see if we will be a good fit for each other. Then, we’ll set an appointment whenever you’re free to meet with you at the house or we can do a virtual walkthrough with you through your home. After that, we’ll put an offer together for you. We typically have your offer ready within hours of meeting with you or at least by the following day.
How long will it be until closing?
A. Since we’re not buying your house to live in, we can work on your timeline. Need a few months to get moved to your new place? We can handle that! On the flip side, if you need to close very quickly for some reason, you’ve come to the right place! We have the means to close in 7-10 days if need be.
Will I have to make repairs?
A. This is one of the biggest benefits of working with us. We will never ask you to make repairs when you sell your house to us. Compare that to a retail buyer that knit-picks every detail of your home and comes to you with a long list of repairs.
Depending on the age and condition of the home, we might hire a home inspector for due diligence. However, this is only for our reference so that we know what we need to repair. You can be confident that you will not have to make a single repair when working with us.
What are the benefits of a cash offer?
A. The primary benefits of a cash offer on your house are convenience and simplicity. Transactions are way more complicated when a lender is involved because they often have special requirements that must be met. Not to mention that lenders won’t approve a loan on properties that need significant repairs. A cash offer cuts out all of these requirements and gets you what you need, money in your pocket in the shortest time possible.
The definition of a cash offer is an offer with no financing contingency. Nearly all traditional offers involving a lender include a contingency based on the buyer’s ability to obtain financing. If they can’t qualify, they are allowed to back out of the deal and receive their earnest money back. This happens quite a bit with retail buyers. But that is another thing you don’t have to worry about when working with a cash buyer.
Do you pay a fair price for properties?
A. Many of the houses we purchase are below market value (we do this so we can resell it at a profit to another homeowner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash, we close very quickly (no waiting for financing), and no time or effort or expense is required on your part of fix up the property or pay agent fees. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair win-win price. (Besides, our no-obligation pricing commitment means that you do not have to move forward with the offer we give… but it’s good to know what we’re offering!)
Are there any fees or commissions to work with you?
A. We charge zero fees! When we make an offer on your property, the price you see is the price you will get at closing. Compare that to selling your house on the market. First, agent fees are typically 6% of the sales price. Also, closing costs can be several thousand dollars if the buyer asks you to pay them. Lastly, retail buyers often perform inspections and request a list of repairs which can cost thousands of dollars.
You won’t have to worry about any of these fees when you work with us. We don’t charge agent fees or commission, we pay your closing costs, and we won’t ask you to fix anything. These perks alone can save you tens of thousands of dollars!
How do you determine the price to offer on my house?
We understand that this might be one of the top questions on your mind. Several factors go into each offer that we make on a house. The most important considerations are the location, size, condition, finishes, what nearby homes have sold for, and what we plan to do with the property.
We take all of these things into account and work to calculate an offer that will work for you. We also consider your near-term plans and try to structure our offer to help you meet them!
How are you different from a real estate agent?
A. Real estate agents list properties and hope that someone will buy them. The agents shows the properties to prospective buyers, and then take a percentage of the sale price if they find a buyer. Most realtor selling fees are around 6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay around 6,000 in commissions to an agent). Agents provide a great services for those that aren’t in a hurry to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We’re not agents, we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the houses from you, and we pay with all cash… we can make a decision to buy your house within a couple of days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our cash, fix the house and market it ourselves to find a buyer(which is the hardest part in this market).
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