Are you looking to sell your house to a company that buys houses instead of listing it with a Realtor? Don’t have the money to fix up the house to list it? Just want to be done with your house?
But you’re not sure where to even start?
This article is going to walk you through everything you need to know.
You’ll learn what to look for in a company that pays cash for houses, how does the process work, are cash home buyers legit, and what to expect when selling your house for cash.
So, keep reading.
Finding a Reliable Company That Buys Homes
You’re probably worried about getting scammed by a company that buys houses for cash. Selling without a Realtor is not mainstream, so it’s completely normal. Our goal is to help you understand the process and what to look out for so that you keep your family safe.
What To Look For In A Cash Home Buyer
Not all companies that buy houses are the same. Some are large. Some are small. Some work with a moral compass. Some scam people. It’s important to know what to look for in a companies that buys houses for cash.
Most likely, you’re getting calls, junk mail, ads, and maybe even people at your door telling you they want to buy your house. This makes it difficult to navigate through who is legit and who is here to make a quick buck off your home.
First things first, check out their presence on the internet. Search their company name into Google.
Do they show up in the search results? Do they have a website? Do they have reviews? Do they have photos? Are they producing videos?
These are all things to look out for when checking out the credibility of a cash home buyer.
If they check the box for all of these items, let’s move to the next one. Do they have Google reviews?
A company that has zero reviews is a company that you should stay away from. Roughly 1 out of every 15 homeowners we buy houses from leave us a Google review. So, someone who has zero Google reviews is someone who has not been in the industry very long.
You want to make sure that the company buying your house for cash has a long standing reputation of treating homeowners right.
How Does A Cash Home Buying Company Work?
Nearly all of the companies trying to buy your home are going to tell you that they are the ones who bring cash in hand to buy your house. 99% of the time, this is not true. But what’s worse is that they won’t tell you this. This is where cash home buying companies become a little scammy.
An honest cash home buying company will tell you upfront that they are not the end buyer. In this business, we are wholesalers. Think of us like Costco or Sam’s, but for houses.
The value that we bring the homeowner is that we have spent years building up a massive network of investors. These investors are hedge funds, flippers, and landlords. They have the cash and resources to tackle buying your house.
We are the “match-makers” between homeowners and these investors. When you reach out to us, we see if your house and situation would be a good fit, and then we call our investors and let them know about the deal. Anyone who is interested will come check out the house and then bring cash to the closing table.
So, why wouldn’t you just sell to them directly? And why aren’t they marketing to you?
The truth is, their superpower is not the same as ours. As wholesalers, our superpower is marketing and sales. We market to homeowners and generate leads. We come to an agreement for price and terms with the homeowner. And we market to these investors who can buy the deals that we find.
Their superpower is running their own operations, which means that they don’t have time to market to homeowners, meet with them, and solve their problems. They are focused on managing contractors, projects, tenants, lenders, and employees. We simply feed them deals.
Are Home Buying Companies Legitimate?
Some are. Some are not. The truth is that there is no regulations on cash home buying companies. Anyone can go to a Holiday Inn Real Estate Seminar, learn about investing, and then market to you and tell you they can buy your house with cash.
It’s hard to tell who is a legit cash home buyer and who is fresh out of a weekend seminar. Here’s 5 ways to vet the company that is making you a cash offer.
1. Have they thoroughly explained their offer?
A common strategy for shady investors is to accept your price to “lock it up” and re-negotiate later. Be confident they won’t renegotiate your price later on and tie your house up for months while you still pay the bills.
2. Do they have numerous 5-star reviews?
Check their Google Reviews to make sure that they have raving customers and so you can save your family from being scammed.
3. Have they been in business for a while?
There are hundreds of weekend seminars teaching people to get rich quick in real estate. Don’t let your family fall victim to someone fresh out of a weekend seminar trying to make a quick buck.
4. Can they provide proof of funds?
It’s important that you vet buyers and make sure that they aren’t printing off fake proof of funds from the internet. You risk tying your house up with someone who can’t purchase it.
5. Does the contract allow you to back out?
Make sure that the contract you sign allows you to cancel if they can’t perform. Cash home buyers will tie homeowners up for up to a year while they desperately market the house on Craigslist and Facebook Marketplace to try to find a buyer.
As with any industry, there are scam artists. Also, as with every industry, there are reputable companies that want to add value to the marketplace. Please, vet the company making a cash offer on your home and make sure that they are a legitimate home buying company.
What To Expect When Selling Your House To A Company That Buys Homes
Selling your house to a company that buys homes is a lot different than listing and selling with a Realtor.
|Selling w/ An Agent|
|Commissions / Fees:||6% on average is paid by you, the seller||NONE|
|Who Pays Closing Costs?:||2% on average is paid by you, the seller||NONE – We pay all costs|
|Inspection & Financing Contingency*:||Yes, up to 15% of sales fall through||NONE|
|Appraisal Needed:||Yes, sale is often subject to appraisal||NONE – We make cash offers|
|Average Days Until Sold:||+/- 91 Days||IMMEDIATE CASH OFFER|
|Number of Showings:||It Depends||1 (Just Us)|
|Closing Date:||30-60 +/- days after accepting buyers offer||The Date Of YOUR CHOICE|
|Who Pays For Repairs?:||Negotiated During Inspection Period||NONE – We pay for all repairs|
Benefits of Working With a Company That Buys Houses
When working with Breyer Home Buyers, we tailor our home buying process to you.
Get Paid To Move
You’re in a tough spot.
For whatever reason, your house has turned into a financial burden.
You feel the tension rising up.
How are you going to catch up on late bills, buy packing materials, rent a truck, rent a storage unit, and put a down payment on a new place BEFORE you even sell your house?
That’s why when you sell your house to us, we pay you to move.
We will lend you money upfront to ease the pain of moving costs.
That’s one less thing for you to stress about.
We Pay For Movers
Have you been standing in every room in your house just staring at your stuff?
Wondering how the hell you’re going to move all of this stuff?
Big couches, beds, mattresses, and mountains of boxes?
Can’t afford to pay someone to help you move?
We will pay for a moving company to come in, pack your stuff, and move it for you.
We Pay For Junk Removal
You’ve got years of junk in your house.
(We all do.)
But do you REALLY want to move it all?
Do you REALLY want to fork out money to rent a dumpster and throw it all away?
You don’t have to.
When you sell to us, we will pay junk removal guys to come in and clean out the house for you.
You can literally pack ONLY what you want and walk away from the stuff you don’t want.
It’s that easy.
4 Page Contract
You remember when you bought your house and the Realtors gave you a book of contracts that was 100-pages thick with all kinds of confusing mumbo jumbo?
Yeah, we don’t do that.
Our 4-page contract is simple and easy for you to understand.
You won’t be rushed to sign it.
You won’t have someone skimming through 10 pages saying, “This just says this – sign here.”
You deserve clarity, understanding, and peace of mind that you’re not losing your ass on the house.
Our contracts provide you with that.
Don’t List It. Sell It.
Do you have time to list your house and wait months HOPING that someone buys it?
When we make an offer on your house, it’s an offer to buy it.
No more waiting and wondering.
You get peace of mind that your house is being closed on.
Don’t Take Off Work
Do you have time to take off work every time something with your house comes up?
Can you afford to lose hours at work?
We will meet you at your house after hours and on weekends.
You don’t have to worry about taking off work.
You don’t have to use vacation hours.
You don’t have to make less money this week.
We work around your schedule.
Offers In 24-Hours
Do you need to sell your house in a few weeks?
Do you want to meet with investors who take 1-2 weeks to give you an offer?
What about investors that drag their feet on the whole process?
Don’t you need a decisive offer as fast as possible?
Once we see your house, we will have an offer in your hands within 24-hours.
Your time is not wasted.
You will know ASAP whether we are the right solution for you.