Let’s face it: we’ve all seen the advertisements. There appear to be hundreds of companies throughout the UK that advertise with the slogan “We Buy Any House”. But are these companies truthful, and are they worth looking into when you need to sell a problem property? Here are some of the reasons these companies might be worth your time– and a few ways to tell if they’re the real deal.
What Is A “We Buy Any House” Company?
What are these companies, anyway? And what do they actually do? The truth is simple. “We Buy Any House” Companies are more colloquially known as cash buyers, and they’re called that because they already have the money, they need to purchase your property. Cash buyers are a great choice for your home because of many reasons, the biggest being that they don’t have to contend with a mortgage lender in order to purchase your home. Instead, they already possess the money they need and can buy your home easily without the help of a realtor. Even if your home is in bad condition, or there are strange terms around your contracts, a cash buyer is willing to purchase your home, and they’ll never fall through on their side of the deal.
Should You Find a Realtor or a Cash Buyer?
Realtors are one of the most popular ways to buy and sell homes, so it’s perfectly normal to be asking why you might choose a cash buyer over a realtor. In short, realtors are expensive! They require you to repair and renovate your home to keep it at market standards while selling, and that can be a little more expensive than the average homeowner bargained for. Even worse, you have to pay your realtor a salary for the whole time you work with them. This can be expensive, and detract from your savings. In short, working with a realtor can actually take away from the profits you make off your sale, and it can damage your earnings substantially. Even worse, your realtor is paid on commission, which means that they take a percentage of your profits as their own. This may mean they overprice your home– and slow down your sale– in order to make a bigger paycheck for themselves later. In contrast, cash buyers do absolutely none of this when purchasing your home.
The Perks of Working With Cash Buyers
Cash buyers are a great way to sell your home, and they can often be simpler than fighting with a realtor over repairs and profit margins. Cash buyers will always purchase your property, no matter the condition it’s in. This is known as as-is buying and means that you don’t have to spend as much money on repairs or renovations. Instead, you can get to what really matters– selling your home for as much money as possible. When the totalling is done, too, cash buyers will give you just as much money as you might earn with a realtor once you’ve taken away the repair fees and the realtor’s commission. Cash buyers give you just as much profit, in an easier way.
How Do You Know Cash Buyers Are Trustworthy?
Not every cash buyer knows what they’re talking about, though. If the cash-for-homes company you’re talking to asks for application fees or service fees before you even consider selling your home to them, it’s a good hint that you’re about to fall for a scam. Similarly, companies that insist on verbal agreements, quick decisions or contract signings, or have next to no online presence are likely to just be trying to get your house without paying you your fair share. If they ask for your title before you sell, too, that’s a good sign that you shouldn’t trust the company you’re looking for. If any company attempts to pull one of these with you, get out as quickly as possible and find a new, better buyer for your home.
Are “We Buy Any House” Companies Too Good to Be True?
“We Buy Any House” Companies– are they too good to be true? It turns out, very rarely! Cash buyers are a legitimate and great way to sell your home, and often will give you just as much profit as a realtor. Be sure to carefully preview your home sale to ensure that you’re not falling for a scam, and a cash buyer can be the best thing that’s ever happened to your home.