You see it everywhere, billboards touting, “we buy houses for cash” or signs on the side of the road stating, “we will buy your ugly house”. Or maybe the occasional popups on websites telling you that you can, “Sell your home fast!”
So many companies claim that they will buy your house with no questions asked. Sounds ideal, right? In fact, to many this may sound too good to actually be true.
Well, don’t pinch yourself. These are legit businesses and you can get some serious cash for your house when it is all said and done.
Read on as we break down if companies that boast, “We buy houses” are legit, what to look out for, and how to know if the company is right for you.
When to Contact A “We Buy Houses” Company
Selling your house is not the easiest of tasks. From figuring out the right price, to dealing with the showings, all the way to long, drawn-out closings, the process of selling your house can leave you overwhelmed and exhausted.
This is where companies that offer to buy your house come in handy.
If you are looking to sell your house without having to make any improvements to it, companies will happily offer you cash for your home and purchase the house just as it is.
However, just like not every landscaper will be worth the price you pay for them, the same can be said for companies who buy house.
Not All Businesses Are Created Equally
If someone asks you to to a restaurant with them, but doesn’t specify which one, what are some options?
- An expensive steakhouse?
- Fast food drive thru?
- Vegetarian fare?
- Thai takeout?
- Interactive habachi experience?
There are many different types of establishments out there that serve food. They are all categorized under the banner of “restaurant.” This is the same for businesses who buy homes for cash.
While all of these businesses do partake in legitimate transactions, it doesn’t mean they will all have your best interest at heart. In fact, on some occasions companies that offer to buy your house for cash will present you a lowball offer.
That is not the nature of the “we buy houses” business per se. That is just the nature of business. The same thing can happen if you decide to list your house.
Your realtor may be in for a quick buck and pressure you to settle for a price bid on your house that is far below what you desire. However, not every realtor is like that. This exact comparison can be made for companies who offer to buy your house.
Do Your Due Diligence
If you are looking into selling your house to a company that will buy it “as-is”, be sure to check out their rating on the Better Business Bureau.
You wouldn’t just buy any old computer without reading reviews, asking friends and family for advice, and maybe even asking the retailer a few questions.
Do the same for your house. Don’t go with the first business that pops up on the Google search. Just because they made the most sales and bought their way to the top of Google rankings does not mean that they are the most reputable business.
As you make your decision whether or not to go with a “We buy houses” company, ask them for reputable references. We aren’t talking about “testimonials” that they type up on their webpage.
Anyone can steal a picture off of the internet, conjure up a fake name, and copy-write some half-hearted testimonial. Ask for real pictures and to share stories from happy customers.
What to Expect When a Company Buys Your House
You can expect a lot less hassle than the actual selling process. Essentially, these companies are doing you a service. They are taking a property you no longer want off of your hands. From there, they are doing one of two things.
- Gutting, renovating, and flipping the house for a huge profit
- Making minimal fixes to get the value up to market price and sell
The end result is the same. They want to sell your property to somebody else. Therefore, if you owe a lot of money on your house, you might not get any cash at all. In fact, they might just take off your mortgage and you are free to go.
However, if you have a good amount of equity in your home, you will make some money.
The company will take the value of your home into consideration, the repairs needed to hit one of the above mentioned targets (flipping or bringing up to market value), and they will make you offer.
While it’s not as official and nerve-wracking as hiring a realtor, appraiser, and inspector, as well as scheduling showings, and dealing with closings, your house will still be evaluated.
These companies are looking to buy your house for cash. Therefore, it is still an investment for the purchaser.
Just like when you were buying your house, you want to know what you are getting into before the sale is final.
Why Go with a “We Buy Houses” Company?
If you truly feel that you can make a sizable profit off of your house, then going with a company that buys houses “as-is,” is probably not the best option for you.
Waiting it out on the market, dealing with showings, and cutting in the realtor will serve as the most profitable endeavor for you.
However, all those aforementioned things must happen. That can be taxing and in the end, may not be worth the hassle. That’s when it’s time to go with a “we buy houses” company.
If you are looking for a reputable company to buy houses “as-is,” turn to one like We Get Properties. We Get Properties has a long-standing record of buying houses for a reasonable price.
The company inherits all the closing costs and finalizes the sale on your timetable.
You can schedule a meeting at your convenience (which beats all those tedious showings and no-showings). On top of that, you dictate the speed of the closing.
So, if you are looking to be done with the house in a month, within 27 days, you will have cash in your hands.
Is This the Right Choice For You?
At the end of the day, companies touting the, “We buy houses” tagline are doing what you are trying to do and that is make a quick buck.
It’s just that some companies offer a more fair offer for that quick buck than others do.
After you do your due diligence and decide whether or not the companies you want to contact are a scam, shop around. You should feel comfortable with the sale of your investment.
Once you find the right company for you, the process will be a quick and painless one.
However, if you’ve put a lot of work into your house and have a nice amount of equity, then you might want to try your hand listing your property on the market.
Worst case scenario, it doesn’t sell. Then you can turn to a company like We Get Properties to come in and take the house off of your hands and put some cash in it instead.