Should You Trust “Sell Your Home for Cash” Companies?
When you’re in dire straits and need to get out from under your mortgage, it can seem like there are no options. Then, on the street corner or in the background noise of a radio, you hear, “we’ll buy your home for cash, no questions asked.” Could it be so easy? Or is it too good to be true?
House Guys USA wants to clear the air around these companies and help you make the right decision with your home. Whether you inherited a house that you don’t want, have fallen victim to Murphy’s law with costly repairs. Whatever the reason might be that you need to offload your monthly mortgage payment, know that there are options.
How It Works
These companies aren’t out there to help you make a profit from the sale of your house. They are there as opportunity investors. These are the companies that fix and flip homes for profit. They’ll take the burden of a home off your shoulders before it drowns your family’s finances.
Cash for Homes companies will target specific sellers because they know the homes are near foreclosure, are super damaged, or have been listed for long periods without moving. They’re experts in the market and have the liquid cash assets to afford a fast process and almost immediate closing.
They often ask what is still owed on the property and assess damages or updates that will need to be addressed, and make an offer close to the debt you owe. This is a great option if you aren’t looking to use the profit from the sale to relocate.
Benefits of Cash Buyers
When an investor buys your home, they’re familiar with the process and will have all of the paperwork ready to go without costing you anything in fees or commissions. The transaction is processed quickly because there isn’t a wait on financing or contingencies that come with traditional purchases.
While the idea of ducking out of your mortgage without defaulting on the loan and killing your credit is tempting, you should watch for red flags. Even in traditional real estate transactions, brokers get paid after the home sells and closes. If a Cash for Homes company requires fees upfront, there’s a good chance it isn’t a reputable company to work with.
Think through your decision and talk with others until you’re ready to pull the trigger. If a Cash investment company pressures you to decide before you’re ready, you’ll likely regret the choice when it’s all done. Selling your home can be a very emotional time.
We’re Here To Help
House Guys USA is here to help you in this time of big choices. We are an investment company that is completely transparent with you throughout the process. In most cases, we can close on your home and have money in your hands (or to your mortgage company) in a matter of days. Take the weight off, and let us help you find the right option for your situation.