There is a big mismatch in real estate. People have dozens of different reasons for selling their houses, but in reality only have three options for doing so. Depending on how you classify options, there might be a fourth. So no matter your reasons, you’re stuck with the same options as everyone else.
You can sell with an agent on the real estate market. You can sell privately in a for sale by owner (FSBO) situation. You can sell to a real estate investment group. That’s about it. Selling to an individual investor is another option, but unless you have a super high-end house, or have a potentially high-end house in need of significant renovation, chances are you’ll have difficulty finding such an opportunity.
Doesn’t that feel a little frustrating? You and your neighbor are selling for completely different reasons, but you’re stuck with the same options for selling.
Call us biased, but we at Houston House Buyers strongly feel that in most situations, you can find a great deal selling to an investment group. We can think of seven very good reasons. Best of all, each one builds on the last.
So we start at the top:
1. You have more flexibility
While you have only three or four primary options when selling a house, cash home buyers can offer more flexibility. We’re not a family looking to buy and settle into a house. We’re investment companies that want to earn a return. That means we’re more willing to work with your particular circumstances.
If you’re selling due to a divorce settlement, we’ll work with you differently than we would if you wanted to get out from an underwater mortgage. Facing foreclosure? We have specific ways of working with those homeowners. This is not a one-size-fits-all situation. You have circumstances, and we work with them to get you the best deal possible.
That’s not the only way we’re flexible. There is another important way that cash home buyers are far more flexible than traditional real estate agents.
2. You choose the closing date
When you sell through an agent, you’re typically not in control of the closing date. That’s part of the contract, and the seller will have a say in when you close. This can be a pain if you want to sell quickly. Maybe a buyer makes an acceptable offer, but can’t close for a month or two. What do you do then? Wait for another acceptable offer?
It’s not a great position. If you go with a cash home buyer, though, we can close on your schedule. Need to close in two weeks? We can accommodate even that aggressive a timeline. Need to close a few months down the line? We can work with you.
3. You make no repairs
You wouldn’t believe some of the repairs houses need just so they can sell. Agents will often tell you that you need to make even the most tiny, detailed repairs in order to sell. The dirt is in the details, and agents want to scrub that dirt thoroughly.
And you know what? Agents are right. They know their stuff. If you want to sell your house on the market, you have to make these small repairs.
Then we get to the big repairs: foundation damage, roofing breaches, plumbing leaks, septic issues. You absolutely must get these repaired before you sell. Otherwise, a bank won’t issue a buyer financing — even if you offer the house at a huge discount.
With cash home buyers, you sell as-is. We take care of the repairs after we close. It’s none of your concern any more. You just sell the house and move on. Pretty sweet deal, huh?
4. You can easily sell a vacant house
Have you ever tried to sell a vacant house? It might seem like a cakewalk. But it can cost you thousands.
Buyers like to imagine what the house will look like when they move in. They don’t get there by looking at a house full of nothing. Even in new houses, agents will fancy it up with furniture and other accoutrements to give the buyer a clearer picture of what they can make the house.
A house full of empty rooms? It’s a much harder sell. Then there’s the issue of repairs. Even if the house is fundamentally sound, you might have to sink money into cosmetic repairs just to get it sold.
With cash home buyers, you can just pass off that home and put cash in your pocket. It sure beats spending money on a house you’ll never live in, right?
5. No fees, no commissions, no contingencies
When you listen to offers, you can’t just consider the actual number. You have to factor in a number of additional fees. For instance, the seller has to pay an agent’s commission. They might also be asked, as part of the negotiation, to pay some of the buyer’s fees, such as appraisal.
Then there are contingencies. The buyer has a right to ask for certain concessions before signing a contract. A seller doesn’t have to agree, but to decline is to turn away the sale. So maybe you listed your house for $120,000. The actual amount of money you deposit in your bank account (minuse the money you still owe to the bank) will be far, far less.
When you sell to a cash home buyer, you get an all-cash offer. That’s the money you deposit in your account. It is the be all, end all number. There are even cases where, when you add in repair costs, you will actually realize more money than through a traditional sale.
6. You don’t have to let strangers into your house
Who wants to let groups of strangers into their house? Worse, who wants to do that on a weekly, or sometimes daily, basis? It can take a while to sell a house, and your agent might show it to a few dozen people.
Worse, you have to make the house look attractive to these potential buyers. So the house that was once yours is no longer. It’s theirs, even though you still have to live in it. It can be a very frustrating part of the process, but if you’re selling with an agent it’s absolutely necessary.
The only strangers who will come into your house when you sell to cash home buyers is the buyer him or herself. Hopefully by the time we show up at your house, we’re not exactly strangers. We want you to be comfortable with the process, so we have consultations over the phone and in person.
7. You don’t have to worry about financing
It’s a nightmare scenario. After weeks or months of showing your house, you finally find a buyer. They make an offer that lines up with your asking price. They don’t ask for a thousand contingencies. You’re on the road to closing.
And then the news comes in: they can’t find a bank that will issue them financing, or they can’t find a rate that makes sense for them.
It’s back to the drawing board for you. Now your house has been on the market longer. A buyer has fallen through. No matter the actual circumstances, it doesn’t look good for you.
When you sell to cash home buyers, you don’t have to worry about us securing financing. We pay for houses with cash, so you’ll have a smooth and easy process. We essentially remove the most uncertain step in the selling process.
Are there reasons to choose the traditional real estate market and not cash home buyers? Of course there are. We aren’t so biased or arrogant or naive to believe that every homeowner should sell to a private investor.
We do strongly feel that in many situations, homeowners are better off with cash in hand up front, rather than a potentially larger amount after making repairs and showing a house for weeks or months. It all depends on your individual circumstances. No matter what those circumstances are, Houston House Buyers will work with you.