Inside Look At Companies That Say "We Buy Houses!"

Published: 08th April 2015
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We've all seen a sign on our block or, on a light post in our neighborhood that makes the claim "We Buy Houses", or "Cash for Houses". Most of us probably never give these signs a second thought, but many of these companies have helped sellers who want to sell quickly. You may be wanting to sell and have completely ruled out investors or companies who buy houses as one of your potential buyers, because of the fear of potential scams or not enough knowledge about the these companies, but by giving these companies a second look you may be able to sell your home faster and easier than if you were to sell to a traditional buyer.

Many of these companies are reputable and they are willing to buy your home very fast and sometimes even the same day you inquire. Reputable companies who buy houses most often start by accepting your call or an online inquiry asking a series of questions about the property you want to sell. They are usually looking for the age of the home, the conditions, the number of bedrooms, how fast you want to sell, and other things a real estate agent might ask during a preliminary meeting. The company will then give you a selling price based off of this information. Shortly after that the company will send a representative out to physically review and evaluate the property. The amount the company is willing to pay is based on the condition, location, and amount of work that needs to be done on the home.

It is not uncommon for an investor to offer less than the asking price for the property. Many of the companies who buy houses are not looking to live in the homes they are buying. The goal is to usually make any repairs (if needed), and then sell the home as quickly as possible or rent it out. This is why most offers will be less than the listing price. This may be the reason why many sellers are not interested in selling a home to one of these companies, but what they do not know is that many of the offers may be below the fair market value, but they are reasonably close. On average a seller may receive 60 to 80 percent of the fair market value, which is better than nothing.

While the description above assumes you are working with a reputable company, you need to be sure that you are working with an investor who is part of a reputable company, or a company you can verify through the Better Business Bureau.

Here are some signs of companies that may be trying to scam you:

1. They want you to sign a contract that you don't understand

2. Parts of a contract you are signing are blank.

3. They promise cash for houses in the beginning, then ask to "take over "payments instead.

4. They ask to auction your home for you instead of buying.

Companies that are doing business legitimately will want you to feel comfortable with a contract before signing. They will want you to have a completely filled out contract so that neither party can add any conditions to the contract after it has been signed. They will be understanding of your situation and not forceful. Although this is a business transaction and buyers can be serious or straight to the point, there is a huge difference between that type of business and a business that looks for weak sellers they can scam.

Don't neglect this option when selling a home. You can sell your home quickly and painlessly without all the demands of a traditional transaction. Make sure you are well informed and comfortable with the process first. Don't let the fear of selling to someone who says "we buy houses" keep you from giving them a chance. They could be the best choice you make.

Deciding the best ways to sell your house is the most difficult part of the home sale process. Don't let it overwhelm you though. Remember, the end goal is to sell your house. Visit our blog for more articles on selling houses!


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