You’ve probably seen the advertisements for cash buying companies. They state they will buy your home for quick cash, without the hassle of a traditional sale. But if you’re wondering if the company will actually want to purchase your home, the answer is yes—they buy all kinds of houses.
It Needs Repairs
If your house needs repairs, don’t worry—cash home buying companies purchase homes “as-is” or, in other words, in their present condition. It’s typical for the homes they buy to have problems, whether it’s multiple minor repairs needed or major defects like a bad foundation. No matter what condition your home is in, a home buying company can help.
Unlike traditional home buyers, cash home buying companies aren’t looking to move right into your home. They are property investors who specialize in buying distressed homes and reselling them. They’ll take on the responsibility of dealing with any necessary repairs.
It’s in Great Condition
Lots of people have homes that don’t have any serious problems, but they need to sell quickly. Often, the homeowners are facing a financial crisis, such as a job loss or impending foreclosure. Other times, they need to sell quickly because of a sudden life change like a job transfer or divorce.
When selling to a cash home buying company, the sales process is quick and predictable. In most cases, you can complete the process and close within a month. This appeals to many home sellers, no matter what condition their house is in.
I Still Owe Money
If you still have a mortgage on your home, you can still sell to a cash buying company. This is not an unusual situation. In fact, it’s not unusual for homeowners who are behind on their payments to sell their homes quickly to avoid foreclosure proceedings.
You’ll have to contact your mortgage company to get a payoff quote. This will guide you in determining how much money you can accept for your house in order to settle your debt. Your lender may accept a short sale, meaning they’ll accept less money than you owe.
Selling to a cash home buying company may not be for everyone, but for some people, it’s the best solution for their needs. If you’re thinking about selling, locate a home buying company near you and discuss your options.
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