Cash House Buyers: The Perks and Snags of Selling your House for Cash

Cash House Buyers

Cash House Buyers: The Perks and Snags of Selling your House for Cash

Cash House Buyers

Going about your, business, you are certain you come across signposts advertising house the “cash house buyers” or other companies that buy houses for cash are willing to go about buying a house with cash. These signposts are huge, erected on telephone posts or the fences of unsuspecting citizens while attracting potential sellers telling them of how they provide a service of buying a house with cash with the occasional  I buy houses cash printed with large fonts. Sure, the “cash house buyers” companies; companies that buy houses for cash do exist but not to completely protect your interests. Before outlining the procedures to sell your houses to these cash house buyers, you would have to know why you should and should not sell our houses through such listings.

Advantages of the cash house buyers

There are some advantages to selling your houses to these companies that buy houses for cash one of them being that they pay cash! This means you will avoid the buyer mortgage contingency. Additionally, they employ the buying a house with cash process. They buy your house the way it is without going into the lengthy push and pull negotiations of who would have to pay for repairs. They are also fast on closing since they do not wait for inspections. Since they bypass the otherwise would be a lengthy process, they pay on demand some or all the closing amount. Making the buying a house with cash process really smooth

Cash House buyers target a set of sellers

The cash house buyers guys are like predators ravenously scouring for the desperate house sellers to take advantage of by buying a house with cash. They frequently place ads in categorically hoping a seller would heed the pied pipers call. They usually target bankrupt sellers, sellers whose listings have expired, sellers whose homes are probate, sellers that get transferred from one place to another in their line of work, sellers whose houses are damaged among others. Once they get a seller they set out to begin the buying a house with cash process.

 

 

Commission-free as they put it

These cash house buyers will always draw attention to the fact that no commissions would be paid by you and they would go further to explain to you what a great deal it would be since no realtor will benefit from your hard-earned money. Sure, no realtor would but they most certainly will, because that is their mission.

These companies that buy houses for cash do not charge commissions for a number of reasons. One would be the fact that they do not want to get sued, another would be because there would be a conflict of interest. They are smart too, paying for title policies for themselves and even avoiding title insurance altogether

 

Amounts these cash house buyers pay

Once known as equity purchase companies, they solely make your equity position their main focus. They use your position to negotiate the least possible price for your house. To calculate the net profits for sale on your side the offer you will receive is most likely to be less than 80% of the market value of your home and the position of your equity will most likely to be discounted further, more than 50%. Additionally, these companies will go to your mortgage and take with them the title “subject” which essentially means that they will continue covering your mortgage payments. Also, the cash house buyers company will find means of cashing out either by raising the amount or using credit.

Once closed

Once closed, the cash house buyers will most likely go into the market and plan on reselling your house for a higher price to a conventional buyer making a huge profit while they do it.

It is imperative that if you are not desperate then listing your house on a housing market rather than going after the cash house buyers types of companies that buy houses for cash.

Is it worth using companies that buy houses for cash?

Not quite. Not to badmouth anyone that is running such type of business but their aim is to make a quick dollar out of you. Quite certainly if you approach one of these guys and ask “Will you be buying my house for cash anytime soon?’ They would gleefully smile and answer you, ‘Yes I buy houses cash!’. With an average 65cents on the dollar and sometimes even less, they find joy in taking from others and reselling the property for huge profits, say they resell your previous house at 85 cents on the dollar! That is a really significant amount of money they skim off of you in a matter of weeks. Even after taking the title subject to an existing loan you have, you will most certainly still be on the books for the mortgage until the debt is repaid in full

In case you are okay with the skimming, you can go ahead and sell your house to them

Selling to cash house buyers companies

The first step would be to either visit their website or go physically to their locations and submit your details: name, location n of the house you are selling among other things

After being reviewed, the company people will get back to you and make an appointment to view the house. Remember they do not care so much for the condition of the house and the reason for seeing it would be to make an estimate of the worth.

After making an estimate, they will present you with a no-obligation offer. This simply means that if you choose to decline, no upfront fees would be deducted from you.

Once everything the terms have been agreed, the amount is transferred and the sale is completed. Simple as that.

But if you have decided to do away with these companies, the next best step would be to get a house the proper way. To do this, visit https://www.dejavuproperties.com/ and browse through the various categories for your house of choice. In case of any query, they have dedicated customer support that will be delighted to help you out.

Good luck!

 

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