Signs announcing companies that buy houses for cash get a bad rap.
Some of them are scams and deserve their bad reputation.
But there are plenty of real estate investors making an honest living flipping houses. If you know how to tell the difference you stand to gain a whole lot.
In this article, we’ll explain what to look for and exactly how you can tell the difference.
Home Buyer Scams
If you’re in a pinch, selling your house for cash can be a wise financial decision. If you get caught in a real estate scam it’s going to be the worst decision you ever made.
Let’s take a look at the difference between companies that buy houses legitimately, those that are scammers, and how you can tell the difference.
Companies That Buy Houses for Cash
Companies that buy houses for cash aren’t everyone’s cup of tea but are a legitimate part of the housing market.
For someone in a sudden difficult financial situation, selling their house for cash can be a sound idea. The house might be the only real asset they have while being cash-poor.
They put real fluidity in the market, which can be a good thing for the housing market as a whole.
Buyers will consider damaged homes, inherited properties and foreclosed properties.
There are scam companies that will jump at someone’s misfortune, buy their house at an undervalued price and sell it for 5 times that.
A quality company will pay cash at just slightly under market value. They will make the required repairs and then resell at a profit.
It can be a situation that puts all parties in a better financial situation.
How Does It Work?
When a seller expresses interest in selling their house for cash, the buying company will make an appointment to see the house. After this meeting, the company agent will give the seller a valuation of the property, where they estimate its selling price.
They’ll make a cash offer. If the seller is happy with the price offered, the agent has a buyer’s contract drawn up.
Who Sells Their House for Cash?
There are many sorts of people that might be interested in selling their house for cash.
These include divorced couples wanting to get rid of their shared property. Or people who have inherited a home but don’t have the money for its upkeep or repair.
A damaged house that will cost more to repair than the owner has is another example of a house perfect for a cash sale.
Every situation is individual and can be discussed with the buyer agent.
Choosing a Reputable Buyer
One of the primary considerations in choosing a company to buy your house for cash is to check their reputation.
If you’re looking to sell a house for cash in South Florida, you can look at the reviews and testimonials of homeowners about our work.
Look for evidence of professional ratings that suggest a company has ethical practices. The Better Business Bureau is one example. At Florida Cash Home Buyers, we have an A+ rating with them.
Selling for cash to companies that buy houses might just be the best decision you ever made.
If you think there might be an advantage for you in selling your South Florida house for cash, get a valuation.
Getting in touch with us will at least give you an idea of the sort of cash we’ll pay you for your house. If you decide that the turnaround time or price isn’t suitable, you have no obligation to go ahead.
Since information is power, take that first step by contacting us today for an obligation-free valuation.