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Going through the normal selling process might not be for you when you want to sell your home. But if you don’t want to wait to find a buyer for your home, you have another option.
You can sell your home to a company that will buy it for cash. We will look at some companies that could offer to buy your home.
Many sellers who want to sell via a real estate investor are interested in selling as-is. They don’t want to worry about staging their homes for the real estate market.
Many houses typically sold in this fashion may have problems an owner does not wish to disclose to conventional buyers.
Sellers also avoid the tedious process of preparing their homes for sale, conducting open houses, and constantly showing their homes.
An investor will be looking for homes to buy and sometimes renovate, sell, or rent for a profit. There are several different types of companies that purchase homes for cash.
We will review all of the different companies that provide this service.
As you might imagine, this company is willing to buy homes that aren’t in the best condition. Along with homes that could be considered ugly, they will also buy properties that need repairs; they are associated with bad memories for the owner or mortgages the owner can no longer cover.
HomeVestors is the franchisor for We Buy Ugly Houses.
HomeVestors is a franchise business with investors that buy houses all over the country. They have been in business since 1996 and have purchased more than 125,000 properties in that time.
We Buy Ugly Houses is the most recognizable name among real estate investors who buy homes.
This is a network of companies looking to buy homes for cash. They are an intermediary, linking sellers to interested investors.
This business has over 200 real estate investors that buy houses in over 30 states. When you contact this company online, they will send a representative to assess your home and make an offer.
We Buy Houses is one of the more established real estate investors who purchase homes.
Operating in Washington DC, Pennsylvania, Virginia, and Maryland, this company buyers around 25 homes for cash each month.
This company buys one home every 20 minutes, and sellers can benefit from their sale closing in as little as 7 days. They are an up-and-coming company in the investor side of the business.
This business isn’t a cash buyer. Instead, they offer a short-term loan to allow you to buy your next home. You do have the option to convert this into a typical mortgage once your previous home has sold.
Flyhomes only operate in a few markets, including Southern California, San Francisco, and Boston.
This is also a network of investors that buy houses, and they will send a representative to assess your home. After the home inspection, you can expect to receive offers.
As this is a network of investors, you might receive multiple offers that you can choose between.
Instant buyers offer sellers a way to speed up their home sale, taking over the transaction and often charging a fee for selling the home. They are one of the better options for selling for cash.
The downside for many people looking to sell for cash to a real estate investor is their property requirements.
Unlike other investors who buy homes in poor condition, iBuyers want properties in excellent shape.
You could have an offer on your home in less than 24 hours from Offerpad. If you qualify, they also provide a service that allows you to list your home but keep their offer as a backup. They provide a free move within 50 miles if you accept their offer.
HomeLight will value your home based on local sales data, and you could be paid in as little as 10 days. When the sale has closed, you have up to 30 days to move out.
This iBuyer primarily operates in metro areas and limits itself to buying homes with valuations between $100,000 and $600,000.
If you are in a situation where you need two mortgages, Orchard gives you another option. They will pay you cash up to 90 percent of your home’s value, allowing you to buy your new property.
They’ll also help you improve your home and list it if you agree to their offer. However, they only operate in a few areas, including Austin, Atlanta, Seattle, Phoenix, and Denver.
A similar service to Orchard is offered by Knock, though they don’t pay you cash. Instead, they underwrite a loan that lets you buy your new home. They operate in 16 states.
Know is an interesting twist to the traditional real estate investor purchasing your home.
With this cash sale, you will have less of a wait to close and move into your new home. You won’t have to worry about various home inspections tanking your sale.
However, since you are dealing with investors, you can’t expect to get the best price for your home.
But if your home requires a lot of repairs or you need a quick sale, using a cash buyer could be a good option.
If these aren’t concerns you have when selling your home, you will be better off hiring an experienced real estate agent and finding a buyer the traditional way.
Homes are sold far more frequently with real estate agents because sellers net far more money.
About the author: The above article on “Companies That Buy Houses For Cash Reviewed” was written by Bill Gassett. Bill has been working in the real estate industry for the past thirty-seven years. He works for RE/MAX Executive Realty in Hopkinton Massachusetts. Bill loves providing trustworthy information to buyers, sellers, and fellow real estate agents to make the best possible decisions. His writing has been featured on RIS Media, National Association of Realtors, Inman News, Placester, Today.com, Credit Sesame, and others.
About Rochester’s Real Estate Blog: Rochester’s Real Estate Blog is owned and operated by Kyle Hiscock of the Hiscock Sold Team at RE/MAX Realty Group.
Since being launched in 2013, Kyle has published more than 150 quality, in-depth, and unique real estate related articles on the Rochester Real Estate Blog pertaining to topics varying from home selling to mortgages and everything in between! In addition to quality real estate related content, there are also many quality articles pertaining to the Greater Rochester NY area.
The Rochester Real Estate Blog has been recognized by many reputable websites as one of the best real estate blogs to visit and follow! In addition to being recognized as one of the best real estate blogs, Kyle has been recognized as one of the top Realtors on social media by several organizations and websites.
The Hiscock Sold Team has almost 50 years of combined experience, so if you’re thinking of selling or buying, we’d love to share our knowledge and expertise.
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