Most homeowners don’t sell their homes for cash. In fact, 89% of home sellers worked with a real estate agent in 2020. This approach doesn’t work for all homeowners — clearly 11% of them go another route. One way is to avoid the traditional market entirely and sell your home for cash to a real estate investor. If this interests you, then you’ll want to find a reputable person or company who buys homes for cash.
Learn What Cash Buyers Look For
Not every cash buyer will be interested in your home. Many of them are real estate investors, meaning they are looking to fix up your home and either rent it or sell it. Some of them will want to help, no matter the state of your home. Companies like Property Spot are passionate about helping people who either need to sell their home, or can’t sell their home on the traditional market.
Cash buyers usually look for any of the following:
Houses that don’t sell on the traditional market
Homeowners who inherit a home
Distressed or outdated properties
Sellers in bankruptcy or facing foreclosure
Although the above list is the normal, it also isn’t uncommon to have cash offers in the traditional market. These offers are usually from families looking to live in the home, not real estate investors. Knowing the difference between the two buyers is essential to knowing the future of your home and the sale!
What to Expect With Cash for Homes Companies
If you decide to call, Property Spot will get you an offer within 24 hours of your inquiry. If they need more information on your home, they will send out a representative to look at your home. During this visit, they’ll look over your home and determine a fair market value. Then they’ll give you a fair offer.
Some cash buyers will ask about your mortgage and may not offer more than what you owe on the home. For example, you may owe $50K on your mortgage, which means the buyer may offer you $50K for your home. Property Spot isn’t like that. They may ask about your mortgage to ensure you’re getting a fair offer for your home, but how much you owe will not negatively impact the offer!
It’s also important to remember that Property Spot won’t ask for any of the following:
Repairs
Renovations
Independent home inspections
Closing fees
Holding costs
Real estate fees
With Property Spot, it’s as simple as calling them and getting an offer. There’s no obligation, no hidden fees, and no headaches.
Choosing a Reputable Cash Buyer
Armed with all of this knowledge, how do you choose a reputable person who buys homes with cash?
The first thing you should look for is a legitimate front-facing website. If you see a sign on the road that says “Buys Home for Cash” with a phone number, then Google that number. If you don’t find a website, then skip it. For companies, look for a polished site with a lot of user reviews. The more reviews and the more people are talking about it, the more legitimate the company.
To further vet companies, look at a Better Business Bureau rating, ask for referrals, and join Facebook groups or NextDoor to see what locals have to say about the business. Their feedback is worth more than reviews!
Next, give them a call! Ask about their experience with home buying and how they know your area. Get a feel for their experience and ask what their plans are if they buy your home. If they’re going to renovate it themselves, ask them their experience with that too. You’ll quickly get a feel for how trustworthy the company is during this first conversation.
Finally, listen to how the company or person talks to you. If they don’t listen to your needs, sound interested, or treat you with respect, then they probably don’t have your best interests in mind. You’re about to make a huge financial decision — you should make that with someone who values your time as much as you value their help.
If you want to circumvent all of this, contact Property Spot online or give them a call at 480-400-7792. They’re a reputable company who buys homes for cash, gives you an offer in 24 hours, and allows you to pick your closing date. Most importantly, they care about you and work with you every step of the way. Reach out today!