Who are Cash Home Buyers
Who are Cash Home Buyers
There’s a lot of speculation about these “Cash-For-Home” companies that leaves us with many questions about their claims. “Sell your house in less than 7 days” and “We buy properties at any condition”. Most of us understand the real estate business as a lengthy and costly process, especially at the selling end. We will show you how these companies function and the benefits of selling your home to a Cash-Home-Buyer.
Ok let’s clear the air first. It’s essential to remember that a cash home buyer company operates under a profit model, and thus they will be offering you less than the market value. You can expect to see an offer that’s somewhere between 10-15% less than the value of your property. The low offer is strategic and not created to make a massive profit in the end. In turn, they are everyday people trying to make a living. This “lower than market value” offer opens the door to different benefits that can appeal to some people.
Sure, it’s not what you’re hoping to get for your house but let’s look at what that offer entails opposed to selling on the market. You don’t pay any fees and commissions. You’re not getting the market value because the company has its own costs and this is reflected in the offer. Costs that you would typically have selling on the market like closing fees, transfer fees, legal fees, realtor commissions, are all taken care of within the offer price. Secondly, cash house buyers will work hard to get your property sold in days rather than weeks or months. This should be reflected in that offer price.
The way they can make these fast offers is they don’t have to rely on acquiring finance through a mortgage, so the idea of a ‘cash’ buyer is literally the truth of the matter.
Why sell to a Cash Home Buyer? You get all the money they offer, the sale happens faster, it is less likely to fall through, and no repairs or conditions needed before selling the property! I hope this sheds some light on the process and if you’d like to find out more feel free to contact us!
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