You may have wondered if those billboards you see on the side of the road claiming to buy homes fast for cash are truly legitimate, or if they are just scams. It is normal to think that such deals should be “too good to be true.” But, in actuality, these cash home buying companies are legitimate companies. Continue reading to learn more about them and their process.
What is a Cash Home Buying Company?
A home buying company is a business that buys homes in their entirety without having to finance the home with assistance from a lender. In other words, they don’t need to get a mortgage on the home—they purchase it “for cash” (but not with briefcases of bills, of course). But why would someone do such a thing? A home buying company understands that not every home seller has the time, energy, or ability to sell their home via the traditional route. Therefore, they provide an alternative option for selling a home that greatly speeds up and simplifies the selling process for their clients.
How Does a Cash Sale Work?
Compared to selling a home via the traditional route, selling a home for cash to a home buying company is much faster and much less complicated. The home buying company fairly assesses the worth of your home, as well as any potential costs for repairs. Then, they offer you a no-obligations cash deal. If you accept the deal, the company will take care of all the logistics so that you can focus on moving out. Once the deal has closed, the company takes care of repairing and selling the home.
Why is a Cash Sale Beneficial?
A cash sale is beneficial for both the seller and the home buyer. Since the home buyer is taking care of all the repairs and logistics, they will ask for a slightly discounted price on the home. Upon selling the home at a higher price, the company will then make a profit. At the same time, a cash sale is beneficial for the seller because it allows them to move out quickly. Furthermore, it removes all the hassle of selling a home.
So, you may now be wondering, is selling my home for cash the right choice for me? It greatly depends on your situation. Talk to a real estate professional today to learn more about the process—they can help you make an informed decision on what is right for you.
Interested in a fast, stress-free home selling process? Click here to learn more about SOS Home Offers, a home buying company dedicated to buying homes for cash in any condition!