You have probably seen those handwritten, all-caps signs on the roadside, saying that someone “WILL BUY YOUR HOUSE FOR CASH!” Some claim they buy ugly houses, while others refer to themselves as real estate investors.
Which bids the questions, how legit are these all-cash offers?
If you are looking to sell your home as-is, for cash, in a way that is both safe and ethical, these are the questions you should be asking:
Real estate investors buy off-market homes for cash from sellers who have issues that require a quick and easy sale of their property. These houses typically need renovations that the buyer takes care of before reselling or renting them.
They buy homes in any condition, and because of their business model, the real estate transactions can be completed in a matter of days. If your circumstances have changed abruptly and you need to sell your home fast, or if you lack the time or money to complete the repairs your house requires, selling your home to a real estate investor is an option to consider.
Do you actually own one of those infamous “ugly” homes the all-caps signs are talking about? Even if you don’t, the common denominator here is time and efficiency.
If your property hasn’t been updated for years, if you simply don’t want to spend the money, or need to move out fast, selling for cash can be a solution.
Real estate investors can accelerate transactions from start to finish within a matter of days - which is advantageous if you need to sell your house quickly despite its substandard condition.
Now that you have a good idea of what selling your house for cash entails, you might be wondering if this is an option worth considering.
The truth is, there are many benefits to selling your home to a real estate investor.
Just imagine: no meeting with contractors to discuss bids…no slaving away on the weekends pouring sweat equity into a home you just want to get rid of…no endless cleaning to prepare for showings.
Selling your home to an investor as-is could be a great option because when they purchase your home, even if it is falling apart, they take over total responsibility for all necessary repairs.
Tick, tock…Tick, tock. Whether you are being transferred for your job or are facing a financial crisis, the clock is ticking, life is crazy, and you probably do not have much time to spare.
The good news is that by selling your home as-is to a real estate investor, not only will you receive a cash offer, you will also speed up the process. You can move on with your life as soon as you accept the offer.
Their cash offers do not require mortgage approval, so you can typically expect to sell your house and move on in as little as one week!
At Simply, this is exactly how we operate.
We know you may need to sell your home and get packing quickly. Your time is valuable, so if you give us just 30 seconds, we can make you an offer.
Ah, the dreaded “contingency clause.” These clauses usually protect the buyer more than the seller and can stand between you and the sale of your home.
When you take the traditional real estate route, some of the clauses might say something similar to Offer is only valid if the buyer’s current home sells within three months. Or offer is only valid if the home passes an inspection with no foundation issues.
Although many cash buyers will still want to have the home inspected, they’re less likely to nickel and dime you on repairs.
Selling to an all-cash buyer further simplifies the process by freeing you from any legal housing entanglements.
All-cash buyers can solve problems like tax issues or delinquent mortgage payments by dealing with all of the research and paperwork. Plus, you should not encounter hidden fees or costs at closing, as is common when selling your home with a realtor.
Real estate agents must be licensed to operate, real estate investors though, have no legal obligation. There are many ethical local investors and cash-for-houses companies out there. Still, the industry is filled with fraudulent businesses.
Along with the possibility of being scammed, you may encounter real estate investors and companies who are less than transparent about their buying process, and pressure sellers into moving forward with the transaction.
To ensure the all-cash buyers operate ethically, keep a close eye on your credit history to be certain they have not taken out a second mortgage on your home, and be wary of anyone who requires an application fee in advance.
If you are facing an emotionally draining situation, selling your home as-is to a real estate investor can be the right solution to help you move on with your life.
However, it is crucial that you do your research to make sure the buyer is not a scammer, and remain vigilant throughout the process. Crooked investors can steal your equity and leave you in even more dire circumstances than when you first entertained the thought of selling to them.
At Simply, we act with transparency and compassion as we work closely with you every step of the way, offering you the highest off-market price possible and closing on your timeline, with full transparency as to how we arrived at our offer price. We are here for you, so take the next step and find out what your property is worth today!