House-buying companies usually purchase your house for investment purposes, seeking distressed or unwanted properties at discounted prices to purchase at a discount, renovate, and then resell at a profit. Many will buy your home as is without making renovations themselves and can provide fast closing processes as well.
Providers typically review your property within 48 hours after being contacted by you and make you a cash offer, often within just 24 to 48 hours. Their offer will depend on local market factors, similar sales history, condition of home and any service fees or repair credits that might lower final payout. Once an offer is accepted by you, title work and closing arrangements will be prepared – any outstanding issues such as liens can even be paid off from proceeds of sale!
Avoid selling your property without first consulting with a qualified real estate agent to conduct a comprehensive property valuation. This will give an accurate picture of its true value, helping you decide whether a “we buy houses” company or an iBuyer will offer the best price.
There are three companies that will buy your property: iBuyers, buy-and-hold investors and fix-and-flip investors. IBuyers are real estate tech companies that use automated valuation models to purchase homes quickly for cash – sometimes within as little as one week! These buyers tend to pay closer to fair market value but may charge service fees.
Buy-and-hold investors are real estate investors that plan on keeping and renting out the property they purchase from you for an agreed upon rent price, typically paying competitive market prices in most markets. Fix-and-flip investors provide another viable solution for sellers wanting to move quickly but lack time to list their home on the open market – typically found in highly sought-after areas and popular markets alike.
Choose the path that fits best with your priorities: for quick, convenient solutions consider We Buy Houses companies such as iBuyer; however if you want top dollar for your home then listing it openly might be preferable.
An experienced real estate agent can provide expert home valuation and marketing strategies. They’ll negotiate on your behalf to secure you the best deal; waive certain contingencies such as an inspection or appraisal if needed to speed up closing time; even create an escalation clause to increase offer when other parties show interest in purchasing your property.