You may have got a wonderful opportunity to work in another city but worried about how to sell your house quickly.
You have the traditional way of hiring a real estate agent, but it is probably not the quickest way to sell the house. Going with the traditional route means you have to minimum wait for 5 to 6 months before the sale of the house could be closed.
Apart from the time, you also have to manage dozens of other tasks, such as listing the house, doing all the necessary repairs and renovations, getting the house passed the home inspection, and waiting for potential homebuyers to offer a profitable amount for the house.
The Growing Importance of Cash Home Buying Companies
If you cannot wait for months and want to sell the house in a couple of weeks, the fastest and most efficient way is to sell the house to a cash buying company or real estate investor. A cash buying company will buy the house and close the sale as quickly as within 7 days as they have the funds available and would not like to keep the home sellers waiting for weeks.
Availability of funds means that the cash buyer does not have to apply for any loan to purchase the house. The cash buying company helps several people who are in a tricky situation and desperate to sell the house as quickly as possible and get an instant cash amount. Some of the instances that make a person consult cash home buying company are
- You have found another wonderful house and want to buy it before someone else does
- When a married couple is filing for divorce
- You have financial constraints and significant debt to pay
- The tenants are giving you stress
- The house is disputed
- Job relocation
- You are tired to fix repairs after every few days
- If the bank is thinking about foreclosure
The top home buying company guarantees a cash offer to every potential house seller and does not back out like a potential homebuyer who decides to buy the house but may change the decision at the last minute.
The biggest advantage you may get is selling the house as quickly as you would like. If you have a job relocation and have to join the office in another city within three weeks, then the only feasible option for you is to sell the house to a home buying company no matter if you get a profit or not.
There is a general talk that the home buying companies usually undervalue the property and pay 15% to 20% less as compared to market value. Well, if we evaluate certain things such as
- Not doing any expensive repairs or costly remodeling
- Selling the house as it is
- Not paying any commission or closing fees
- Not going through the lengthy process of listing the house and home inspections
It is then more than a bargain if you can get not only to sell the house within a week but also to get cash payment upfront to help you manage tasks that may require money. The home buying company usually offers 15% to 20% less than market value because they have to fix the repairs and do all the necessary renovation before the house can be sold again at a suitable price.
Difference between Traditional and Modern Way of Selling the House
In the traditional method, you have to negotiate the price of the house and pay the closing fees and commission to the real estate agent. A typical house sale means paying 4% to 5% of the sale amount to the real estate agent.
The 5% amount can be quite a lot if you have financial constraints and need money to fulfill your affairs. Apart from the closing cost and commission cost to worry about, in the conventional house selling, you also have to list the house and then wait for months before a potential homebuyer may show up. The advantages of selling the house to a cash buying home company are
- No need for any expensive repairs and renovation
- No real estate agent fees or closing costs to make
- You set the sale price of the house
- No lengthy listing processes
- House is sold as quickly as within 7 days
- Get cash payment upfront
- No complicated paperwork to fill
- Receive a guaranteed offer
As the house is sod as it is, you only need to pack your belongings and possessions and move out. The home buying company usually has the adequate financial resources to offer cash offers, which speed up the closing process. Having the funds makes it easier to offer cash; otherwise, applying and getting a loan can take up to 30 to 45 days.
Before consulting a cash buyer company, you have to know the value of your house before you sell it. Fortunately, we live in a digital age where many online websites help homeowners know the estimated value of the house.
You can also search for the sale price of houses in the neighborhood in the recent past that may give an idea of the worth of the property. Once you contact a cash buyer company, then a representative will visit your house and evaluate the entire house and then give an offer based on the looks and condition of the house.
You have the option to accept or reject the offer, but mostly, the offers are reasonable and give the advantage of selling the house as quickly as possible. Most people usually accept the offer as they not only have to sell the house but may also need the cash.
With a cash buyer home company, you do not have to pay any additional cost, whether it is the repairs, real estate agent fees, or any other hidden cost, but sell the house and get cash instead. Time is of the essence, and what better way to sell the house, which can be quite a stressful and challenging task, to a cash buying company.