Buy My Property For Cash
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Buy My Property For Cash
When you sell a house for cash, it simply means that you sell to a buyer who can purchase the home outright without the use of a mortgage loan. If you agree to an offer of $350,000, your cash buyer will need to show proof that they have that $350,000 at the ready in a bank account or something equivalent.
Besides repair and staging costs, a cash offer can cut out additional closing costs. Many house-buying companies will cover closing costs in full for the seller, which can amount to 9%-10% of the sale price. (The largest cost is typically the agent commission at an average 5%-6% of the sale.)
These savings can act as a counterbalance to a lower offer price. A HomeLight study found that the average cost to sell a house to a traditional buyer is $31,308, so when weighing whether to sell for cash, you should always factor in the selling costs associated with each option.
Whether you want to move next week or stay put for a couple of months, a cash sale generally gives you plenty of wiggle room. Sellers who work with a house-buying company often select a move-out date that works best for them.
Working with a cash homebuyer differs from the traditional agent-assisted process in many ways. Below we offer a side-by-side comparison followed by an infographic showing the steps to complete a cash sale.
Investors purchase homes for the purpose of building wealth. Some flip homes for a profit while others hang onto them for rental income. They typically pay cash for their purchases. Investors include:
Simple Sale provides you with a no-obligation all-cash offer sourced from the largest network of cash buyers in the country. Our partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold.
In short, the answer is yes; there are many legitimate companies out there that purchase homes for cash, will provide you with a great experience, and are good on their word. However, we always recommend that you do your due diligence on any buyer before you provide sensitive information or sign a contract.
Without the risk of financing glitches delaying the sale or inspection issues prompting the buyer to renegotiate, selling your house to a cash buyer will get you to the closing table much faster and with fewer headaches. But unless you sell to a cash buyer who plans on living in the home, Abdel says you could be giving a discount of 10% to 15%. However, the fast sale may be exactly what you need.
We Buy Ugly Houses has a better reputation than most individual cash buyers, but your experience can vary based on the quality of the local franchise. While We Buy Ugly House can close in as little as three weeks, it pays far less than fair market value.
HomeVestors (the parent company of We Buy Ugly Houses) is a national cash buyer brand made up of independently owned and operated local franchises. Though HomeVestors can provide an initial offer within 48 hours and close in as little as three weeks, home sellers receive as little as 55% of their home's after repair value.
iBuyers like Offerpad and Opendoor are the next generation of companies that buy houses for cash. Most rely on technology to make an initial offer within 24-48 hours and close in as little as two weeks. Though iBuyers are more selective about the homesthey purchase, they generally pay much closer to fair market value than "we buy houses" companies.
Wondering how to find a real estate agent who can do just that Enter your zip code below to see how much local cash buyers will pay for your home. We'll match you with a top local realtor, who will bring you offers from trustworthy cash home buyers in your market. Your agent will also provide you with a free professional home valuation, so you can discover what your house is worth on the open market.
Companies that buy houses for cash can save you a lot of time and help you avoid expenses like repair bills and closing costs, but the ease and convenience of selling your ho