Like most of us, you’ve probably seen one of those “We Buy Houses For Cash” ads on TV, or on signs attached to a telephone pole or staked at the corner traffic light. Some of us have received a similar letter or postcard or have seen online advertising for the same. The sign or mail piece may also note that the advertiser will buy your house in “any condition” and with “no closing costs”. While this fast and easy method of selling a property quickly may have appeal, you need to be cautious. While there are some legitimate companies that do pay cash for property at a reasonable price, there are others that may seek out vulnerable homeowners; they search for those that need to sell a property quickly or that don’t want to (or can’t) deal with the conventional real estate process for a variety of reasons such as:
- Inherited an unwanted home or property
- Behind on mortgage payments and/or facing foreclosure
- Recently divorced/widowed
- Need to relocate quickly
- Inability to make repairs or needed updates before selling
What You Should Know
Cash for homes transactions may only offer you only 50-70% of the actual value of your property. You should do your due diligence and fully research any company you’re thinking of working with, including being certain they are fully licensed. Check online reviews as well.
Your Best Bet
Selling a home can be very stressful and you will need someone to look out for you—someone who will work for you to meet your objectives. It is now that you should consider hiring a reputable real estate agent. While you might want to work with a cash investor to avoid paying a real estate commission, what you leave on the table in a cash transaction will most likely be far greater than a potential commission.
Your local REALTORS® at Century 21 Armstrong Team Realty have the knowledge and experience necessary to help you with the specific issues surrounding the sale of your home, and together, we can build a strategy that works best for you.
Beware of offers that sound too good to be true; most of the time they are!