Here’s all you need to know?
You have a home to sell. Great! This can be an exciting moment, and you’re looking to cash out an amazing amount of money. But while you’re thinking about that, there are also people looking to cash out on you.
Selling your home through the *traditional process* (link to How to Sell Your House in Florida) of getting a real estate agent to do it for you can be a safe approach. You know your home sale is in the hands of a professional, and every legal requirement will be duly noted. You have the assurance that everything will go smoothly and you would not be in trouble.
But while that seems the safest way to sell your house, it’s complicated and downright slow. You may wait 3-4 months to sell your house. And if you need the money fast, then you have to choose the quickest way; getting a fast home buyer!
Fast Home Buyers
A fast home buyer or fast-cash buyer is someone or a company that is ready to buy your house for cash fast. When you put out an ad stating your desire to sell your home to a house cash buyer, you’re likely to receive a considerable amount of traffic. But you should be wary.
Not all who offer to buy your house for cash are certified house buying companies. Many capitalize on your desperation to sell fast. They know you need the money urgently, or else you wouldn’t be trying to sell your house fast. As a result, some would either give you an offer that’s well below your property’s worth or even try to scam you.
This is why you need to check out any company that reaches out to you with an interest to buy your house for cash. The company—also known as We Buy Houses—should be government-certified to operate in your locality. Ensure the company is legit before making a deal with them.
How Fast Home Buying Companies operate
1. Then don’t expect you to clean up or repair the property
With a fast home buyer, you are not required to make any repairs to the property. You sell the house in whatever condition it is, and they make an offer according to its market price.
2. You pay no commission
In a traditional home sale, you, being the seller, have to settle some commissions, including Realtor’s fee, which can reach up to 6% of the house price.
But most house buying companies will foot every commission themselves, including the closing costs. This enables you to get the most value for your sale.
3. You don’t get to pay for title insurance policy
In a traditional setting, you would be the one to purchase title insurance to protect the new owner. But cash for home companies usually foot this bill themselves.
4. Fast home buying companies typically buy any house, no matter the condition
In Florida and many other States, house buying companies usually buy any and every house available for sale. So if you’re in any of the situations below, you have a chance to get a cash offer for your house:
- You inherited the house
- Your listing has expired
- You’ve gone bankrupt
- The home is damaged
- The home is in probate
- It’s in foreclosure
5. The deal is fast
When you contact a fast home buyer, they can give you a cash offer within 24 hours of checking the house, and closing can take place within a week as you so desire.
6. You choose the closing date and when to move out
One advantage of selling to a fast-cash home buying company is they give you the freedom to choose the closing date according to your convenience. They understand that why you may be in haste to cash out, you may not be ready to move out immediately. Hence, they also allow you to vacate the property only when it’s convenient for you.
Warning signs When Dealing with A Fast Home Buyer
When you’re selling a home in the traditional process, you do not pay any fee until the end of the transaction. So if your fast home buyer is asking you for an upfront commission, you should be wary. It may just be a scam.
Furthermore, if you notice they are trying to push you to sign quickly, they may have an ulterior motive.
Get peace of mind by selling to a reputable house cash buyer
To be on the safe side, only sell your house to a government-approved fast home buyer.
Fast home buyers near me Florida
Weintraub, E. (2021). ‘The Real Deal on Cash Buyers for Houses?’, The Balance, 03 January. Available at: https://www.thebalance.com/we-buy-houses-for-cash-is-it-for-real-1799045 (Accessed: 20 January 2021).