If you were to sell a property today, what is the first thing you would do? The majority of people would contact a real estate agent for guidance, advice and assistance in finding a buyer for the property. This is the normal method of selling a property, but as the average time of houses staying on the market becomes longer it is no wonder that people are using alternative methods. One of these methods is the use of a company that buys houses.
We buy Tyler homes and are also known as a “we buy houses” cash home buyer. These property investors can be highly beneficial for people who are trying to sell their house quickly, but they also present with some disadvantages. Choosing whether or not to use a cash home buyer requires taking several factors into account. This article will provide information on the pros and cons of this real estate method helping you make an informed decision on using a cash home buyer.
The cash home buyer or “we buy houses” investor is able to complete the purchase of a property at short notice in any situation. This is beneficial for people who need a quick sale, for example in the case of foreclosure where there are months of overdue mortgage payments piling up. It is also possible that the quick sale could help manage growing debt, assuming that the property is the largest asset you own.
Without having to depend on banks or other types of financial lenders for funding, the cash home buyer is able to perform an immediate direct purchase of any property. It is typical for this property buyer to close a sale within 48 hours; therefore, if the property is facing repossession this is the only option you have to stop the action.
If you are losing your home, as is mentioned in the above examples, the only method to deal with the situation is to make a bold move and sell the home you are already losing. A benefit of using a cash home buyer is that you may be subject to a sell and rent back option. Many “we buy houses” companies provide the option to clients to sell their property with the option for renting back after the sale has been completed. This allows you to remain in the home without losing the property to a bank or money lender.
Another benefit is that no real estate agent is involved in the property sale. This means that the seller (you) can save the cost of real estate agent fees. A cash home buyer will also purchase properties regardless of the state they are in; therefore, you will be able to sell a home that is well maintained or one that requires renovation. The cash home buyer does not inspect the home beforehand and will pay for any house ‘as is’.
Unfortunately, cash home buyers do not give the sellers the fair value of the property and it is common that sellers receive less than they should for the home. In a market saturated with sellers, they have the power to dictate price and sellers tend to accept the offer regardless of the amount.