Why Use a ‘We Buy Houses Company’?
The housing market in the United States is an ever-fluctuating scale, especially for people trying to sell their homes. Trying to guess when the best time to place your house on the market and get the best value while also navigating how to best present your home to potential buyers can be a hardship and can tie up your time if you are looking to sell quickly. This is where a “we buy houses” company may be beneficial for you as the seller. A company that buys houses usually will expedite the process exponentially for the seller…saving you that ever-so-awful headache.
Going through a “we buy houses” company simplifies the home selling process. When selling a property, the seller has a variety of decisions to make in regards to the sale such as:
- What to price the home at
- Which real estate agent to list the home through
- What repairs are an absolute necessity to be done before listing the home
Should You Use a ‘We Buy Houses’ Company?
With a “we buy houses” company the only question the seller has to think about is to sell or not to sell. This is especially beneficial whenever the sale of the home is coming after a traumatic or stressful event. The seller may have a world of other issues surrounding them if that is the case and being able to simplify a usually complex issue can be a lifeline to someone who may feel like their world is crashing down around them. “We buy houses” companies have the ability to move forward with the buying process more quickly than selling the home on the regular market. This is beneficial for situations which require the seller to move forward with the sale quickly such has a death, an unexpected move, or a divorce. These things are sudden and drastic life changes which would require the seller to have the need to move the property through the market as quickly and thoroughly as possible.
Foreclosure is also a reason a seller may want to sell quickly. Foreclosure is when someone who has a mortgage on a home falls behind on payments and the institution that the loan is through starts the process to repossess the property. If the seller wants to avoid losing the money that they have already invested in the home, they can try to sell the property and use the profits from the sale to cover the debts. But, this would have to be done quickly to avoid the property being foreclosed on. If the seller was to put their home on the market, the property could very well sit there for months which would either put the seller behind even more with payments and increasing their debt owed or allow the institution to begin the foreclosure process which could ultimately leave the seller with no home and no potential cash flow from a sale. In addition, a foreclosure on the seller’s credit can stain it when applying for a home loan again in the future. Foreclosure sounds like a scary thing and does come with the possibility of scary repercussions, but this can be avoided in many ways including getting in contact with a we buy houses company to help speed the home selling process along.
Benefits of ‘We Buy Houses’ Companies
“We buy houses” companies also have extensive knowledge of the market and how to navigate the difficulties of selling your home. When selling your home there are many things to consider upfront which can somewhat be alleviated by a “we buy houses” company. Who better to guide you through the ropes than a company that does this almost daily and has people specifically hired to do so? Also, the best time to sell based on the market varies from location to location so trying to guess the housing market is difficult for even a seasoned real estate agent. A “we buy houses” company does not care about what time of year it is or the housing market, they will buy your home for a reasonable price and cut out the guesswork. A “we buy houses” company will also help navigate the issue of pricing the seller’s home. They can research the average price for a home with those qualities in the seller’s neighborhood and help the seller make an educated decision about how to price their home.
Before a seller puts their home on the market there are certain repairs and renovations that will need to be done to ensure that the seller is getting the best value for their home. While these can up the asking price for the home, they are also costly and time consuming. Another benefit of a “we buy houses company” is the fact that they will purchase a property as is. This is especially beneficial if the seller is trying to move the sale along quickly. Repairs and renovations can be expensive and would have to come out of the seller’s pocket upfront. Many sellers would have a difficult time acquiring the funds to complete lengthy repairs just for the sake of the home being able to be sold. Less time and money on repairs and an almost guaranteed sale are huge benefits of a “we buy houses” company. A buyer may also have a list of demands of repairs or renovations that must be met before the sale can be completed. Many types of loans have certain requirements that have to be met for the house to qualify and seeing as loans are the primary way many buyers purchase their homes, it may end up being things you as the seller would have to comply with before the sale could be finalized. Most “we buy houses” companies have the ability to pay in cash so that would also negate the need for the loan and the requirements that go along with it. Although the offer price that a “we buy houses company” may be less than what the seller could receive through putting the home on the housing market, the ability to move through the sale quickly and without putting the money out of pocket for repairs is an added benefit.
If the seller does not want to pay a commission to a real estate agent, they can also try to list the home as for sale by owner. This option comes with its own unique set of challenges including how to best list the home online to be able to be viewed by potential interested parties, being able to photograph the home in aesthetically pleasing angles to best show the home, and the seller must be able to have a flexible schedule to be able to be available for showings. Another responsibility that falls on the seller when selling the property themselves is ensuring that the potential buyer is qualified for a mortgage. When going through a real estate agent, they are normally the ones who make contact with the buyers and arrange their meetings with loan experts who then run the numbers to guarantee the real estate agent that the buyer is indeed qualified. During the process of for sale by owner the seller is responsible for all of this and can make an extremely stressful situation even more stressful. A “we buy houses” company can help alleviate all the stress that comes with an as sold by owner situation and can help navigate all the issues with come with that type of situation.
Selling a home is more than just selling a piece of property, it is selling a place that has been yours for any length of time. Home is a place of comfort and support, and where people have watched their children grow and flourish. Selling something that holds so much sentimental value is a huge change and requires time to think about the best option for you. A “we buy houses” company is a beneficial option for a variety of reasons including being able to sell the home quickly and with little to no repairs needed. This can take the stress off of the seller and make for a much smoother transition. When going through a life transition, it is important to make the experience as smooth as possible, which is why a “we buy houses” company can be helpful. With the accumulated knowledge in companies such as that, it is sure to make a hard transition easier for the seller.