If you decided to sell your home today, what would you do first?
Chances are you would find a reliable real estate agent in your area to help you find a good buyer and advise on the process.
That’s pretty much what many people do, but as the average time homes remain in the market keeps increasing, more and more are turning to we buy houses companies.
They are basically called cash home buyers, and they can close a house deal even at short notice.
So, if you are months overdue with your mortgage repayment, are facing foreclosure, have a huge pile of debts or just need to raise a significant amount of cash quickly, then the best way out is be selling to these companies.
These buyers do not depend on banks or any other type of lending institution for funding. They have cash on hand that enables them to make a quick purchase to any given property.
They can close a sale in just a few days and so, if you are facing repossession for instance, then it is the best option you may have.
Also, if you are buried in massive debt, the only way out is to make a bold move. In this situation, you may be losing your home, but what really matters is you taking back control of your life and starting fresh.
However, if you are really bent on staying in your home, you can find a real estate investor who offers the option to sell and rent back.
Another appealing thing about dealing with we buy houses companies is that there’s no real estate agent involved in the deal.
That means you will be able to save thousands of dollars on commissions.
Cash home buyers ideally purchase homes, regardless of their current condition and that means you don’t have to bother with repairs if your home needs a makeover.
Most people say that the downside of selling to cash home buyers is that you do not get the fair value of your house. But try selling to anyone today, and it’s highly unlikely that you will get an offer with an asking price that’s based on what you think the house is worth.
In a market with few buyers and many sellers, the buyers have the power to dictate the price and the only way you will be able to sell quickly is by dropping the asking price.
However, in my opinion, there’s no reason to be afraid of listing your home at a low price. It might even work to your advantage.
Lowering the asking price can get you multiple offers, which in turn should drive up the price of your home a little bit, and giving your back the negotiating power.
There’s very little danger in pricing low, particularly in this slow housing market.
The danger lies in overpricing and picking a real estate agent solely based on a high valuation.