The commercials for home buying companies seem too good to be true. They offer to purchase your home quickly for cash and you don’t have to make repairs or pay a commission. That may seem like a wild offer, but it actually happens every day. Home buying companies are legitimate businesses that fill a needed niche in the home sales industry.
What Are Home Buying Companies?
Almost all home buying companies are small community businesses that specialize in buying distressed or unwanted houses as investments. They are not real estate brokers or agents, and they don’t list homes on the market. Rather, they work directly with homeowners to arrange a cash purchase.
Typically, home buying companies will rehab the homes they buy and resell them for a profit. Sometimes, they will use the homes for rental properties. They may also resell the homes to other property investors.
Who Owns Home Buying Companies?
Home buying companies are usually locally owned by people from your town. That means they know the area and care about the community. This knowledge helps them evaluate your property, assess the market, and make a fair offer.
Some home buying companies are affiliated with larger regional or nationwide companies. These operate as franchises. Thus, they may receive training and be held to company standards and values. Independent companies should also stress ethics and competence.
How Can You Tell If the Company Is Legit?
To learn more about the home buying company in your area, first investigate their website. Look for information about the company and reviews from satisfied customers. They should be transparent about their process and procedures. Next, look for reviews on other websites.
Finally, research the Better Business Bureau website. The company should be listed there, along with information about the owners and how long they’ve been in business. You should also see their BBB rating and whether there have been any complaints.
It’s natural to be skeptical about businesses that seem new, but home buying companies have actually been around for decades. They offer home sellers a viable alternative to the often slow process of listing a home on the market. If you’re interested in selling quickly, do your homework and check out the companies near you.
The Easy Homebuyer has helped many of your Spokane area neighbors sell their homes quickly for cash. Click here to see what they have to say.