In recent times, the number of homes bought with cash has hit 30% — and it hadn’t been that way for 10 years.
It makes sense. More and more people are realizing that selling their homes for cash can be a convenient way to skip the most arduous parts of the selling process and get money in their pocket quicker so they can move on from their homes.
However, not all “we buy houses” companies are created equal. If you’re going to sell your home this way, you need to make sure you pick a business that’s right for you and will give you what you deserve.
Here’s how to choose cash home buyers in Houston, TX.
Check the Company Is Legitimate
The first thing you’ll want to do is check that any company you’re considering is legitimate. Some companies will advertise services for people who want to “sell my house fast” or “get cash for my house” and they will end up scamming you.
The first sign that a company is legitimate is a professional website with clear, accessible content and up-to-date contact information. If that information is out of date, it’s a big sign that the company isn’t operating under the best practices.
Reading online reviews is what you should do next. Third-party reviews left by other clients will verify the legitimacy of the company so make sure you look at Google, Yelp, and Facebook. While client testimonials on the company’s website are also a great addition, they’re not the be-all and end-all because any company can fake client testimonials.
Legitimate cash home buyers will have a ton of good reviews. They should have a high overall rating and you can also dive into the high and low reviews to make sure that most people felt they got what they deserved.
If you have a friend or family who sold their home for cash, you can also ask which cash home buyers they worked with because you’ll know that business is legitimate then.
Check the Value of Your Home
Having your home appraised by a professional can give you a good idea of what the house is worth so you don’t get scammed into selling it for less. Although this does cost money, it could be a worthwhile investment before dealing with a home-buying company.
It’s worth bearing in mind though, that a cash offer is usually to sell a house as is — meaning that because you aren’t going to be responsible for repairs, etc., then the cash offer will likely be lower than the typical value of the house. The aim is to balance the convenience and ease of the process with the money you’re then getting.
A fast home offer does come at a price, but it shouldn’t be a steep one for you.
Compare It to What They’re Offering
Once you have the value of your home, compare it to what they’re offering and be honest with yourself. You should never feel pressured into taking their offer if you don’t feel it’s right for you, or too low — remember that you can always choose to go the traditional route if all cash offers are too low.
However, you do need to bear in mind the advantages too. You will be saving money on repairs, etc., so what may initially not seem like a fair house price may actually be very generous in the face of all the work that the house needs.
Remember You Have Options
Remember that we are in the mother of all seller’s markets right now. Who buys houses for cash? Lots of companies, which means you have lots of options.
While you might be impatient to “sell my house now,” it’s a good idea to take your time and ask for offers from different companies. You aren’t under any obligation to sell to them until you’ve signed a contract, so take your time through the discussion and ask all of the questions that you need to.
Read the Contract
Lastly, there is nothing more important than reading the contract you’re given in its entirety (and if they say there’s no contract, that’s a red flag and you should run!).
Although contracts can be long and boring, this is too important to skim over the details. If you’re not sure about the legal jargon, something seems off, or you just want to be sure, have a lawyer look over the contract for you — it shouldn’t take too long and therefore, the fees shouldn’t be huge. At the very least, you need to read the whole thing yourself and make sure you’re clear on every point.
This is mainly to avoid hidden fees in the contract that may take money off the price they said, etc. While we all like to think that most people in the world are honest, some aren’t, and some of these companies will do anything to make money.
We Buy Houses — Legitimately!
If you’re looking to sell your house for cash and have been searching for “we buy houses” companies, we know the struggle. It can seem impossible to sort through the scam companies from the legitimate ones.
At Millennial Home Solutions, we strive to make fair offers. All you have to do is contact us with some information about your house and pictures, and we’ll give you a no-obligation offer. We have a trusted formula to make sure we can afford the repairs and make a profit, and you can walk away happy.