How Do Companies Who Buy Homes For Cash Work?

So you’re ready to sell your house. You do a quick online search and come across several companies who buy homes for cash in your area.

It sounds too good to be true. How do these companies work? Here’s everything you need to know.

Every Cash Buyer is Different

Some companies that buy homes for cash do so with intentions of renting out the homes to increase their monthly cash flow. Others plan to flip the houses and turn a profit. They buy them in poor condition at low cost, clean it up, make the needed repairs, add a fresh coat of paint, and then sell it for a profit.

Some cash buyers look specifically for homes in rough condition, unwanted properties that have been inherited, or others that fit within their parameters. Other companies buy high-quality houses in good condition and then turn them around quickly, offering an improved home buying and selling experience.

Should I Sell My House For Cash?

Not every home or situation is ideal for selling to a company who buys homes for cash. High value homes in nice areas are usually better off with a traditional sell. But in the these situations, cash home buyers can make your life much easier:

  • Homes in foreclosure or pre-foreclosure
  • Bad tenants that you can’t get rid of
  • Unwanted or inherited properties
  • Vacant properties
  • Divorce
  • Need to sell quickly
  • Fixer uppers that are too much work

If you find yourself in any of these situations, or just not wanting to pay exorbitant realtor fees and commissions on your home sale, selling to a home buying company could be the solution to your problem. While a traditional home sale takes an average of 49 days to close, cash buyers are usually able to close in as little as 7 days. What home seller wouldn’t want a quick sale that leaves them with cash in-hand?

The Process

Every cash home buying company will operate a little differently, but this is the basic process to expect when selling to a cash buyer:

  1. Fill out a short form on the company’s website with information about your property.
  2. The buyer will do some research on the property and determine if it meets their purchasing criteria.
  3. If your home qualifies, they will contact you to schedule an appointment.
  4. At the appointment, the buyer will present you with a written cash offer for your home.
  5. If you choose to accept the offer and move forward, you can typically choose the closing date that is most convenient for you. Closing will usually take place at a reputable title company. You won’t pay any commissions or fees. You’ll leave with a check in-hand.

Zech Buys Houses is Here

There are thousands of companies out there that buy homes for cash. But at Zech Buys Houses, we pride ourselves in offering a straightforward experience. We operate with honesty and integrity, and we’re an open book. We’d love to answer any questions you might have. We buy houses in Colorado Springs, Colorado and the surrounding area. Contact us today to see what we can do for you!

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