You’ve likely driven around and passed signs advertising to buy homes as cash offers. You may have wondered whether the advertising was for multiple local companies or a nationwide business. Over the years, similar companies have cropped up with names like “We Buy Ugly Houses,” this only adds to the confusion of whether the company is local, let alone legitimate.
Thankfully, we’re here to clear up the confusion, so you can seriously consider if this approach to home selling is right for you. Under the selling model for cash offers, companies purchase the home “as-is.” This means that you do not need to make any repairs or upgrades because the company is purchasing the house in its current condition.
For those that need to sell their homes quickly, cash offers can be a convenient option. As with most decisions in life, there are pros and cons. Here’s an inside look at how we buy houses companies work, so you can decide if this approach to selling is right for you.
Here’s how cash offers from we buy houses companies work.
Cash transactions are much faster than traditional approaches to home selling. You don’t need to worry about complex financing to sell. Additional advantages of buying houses are that they do not require home inspections or loan approvals to purchase your home.
There is a 3-step process to close the deal:
- Contact an agent to discuss your potential cash offer.
- Meet them at your home for a fair cash offer.
- Sell your house in a matter of weeks or within two months.
Contact the company with your house status information.
An offer from we buy houses companies is cash for your home that you will receive within days. For a cash offer, contact the company and give them information about your home. With the information you provide, your we buy houses company will make a cash offer you can accept or reject.
Receive an offer, accept it, or reject it.
Most we buy houses companies rely on automated valuation models, which automatically compare the status of your home to real estate prices within the market. While this does suggest that your offer may not be ideal (or even correct), you can still accept the offer and get cash fast. Knowing that the offered percentage will be under market value, what’s the ballpark? On average, your home will be offered to you at no greater than 70% of the post-rehab determined value by we buy houses companies.
With a cash buyer, you can expect the following benefits:
- no commissions/fees
- straightforward selling process
- Sell your home as-is.
- fast closing process
See how much you can get for your home.
If you don’t have time to go through a long process and are okay with paying less than market value for your home, cash offer companies may be worth considering. Reach out to us to buy house companies near you to see how much you can get for your home.