You will find there are number of companies or individuals advertising to “buy your house for cash”. And you may be wondering if it’s a scam or just risky. Well, it’s not a scam nor is it risky. As long as you do your homework as you would with any large decision. Selling your house for cash to someone is completely legitimate and is a great option to get out of a difficult or undesired situation.
But, before you start taking offers from someone, get to know them. Some buyers are simply looking to pay the least amount possible so they can “flip” the house after repairing and updating it to meet what home buyers are looking for in that neighborhood.
So why sell your home yourself and not list it with an agent?
1. Maybe you don’t want to pay the seller’s commission
2. You need to sell fast and don’t want to risk the buyer’s financing falling through (happens way too often…)
3. Your home needs repairs and/or renovations and that means time and money that you may not have
4. It’s not your main home, or you inherited it and don’t want to waste time
5. Don’t want neighbors to know you need to sell
Fundamentally, selling your home to a cash buyer means:
1. You save time which means you don’t lose anymore money
2. You’re not negotiating down from a listing rate (due to repair/update needs)
3. Your home doesn’t sit for weeks and months competing with dozens or hundreds of other area listings
4. You are free and clear of your mortgage debts in a matter of a few weeks
5. You don’t have to worry about contingencies (especially financing or the buyer selling their home…)
So these are all great points, but as I said, get to know the cash buyer. Make sure they have a goal for a mutually beneficial outcome. Not just trying to squeeze you into the lowest possible price that you can afford. As a cash buyer, we pay attention to our sellers. Sometimes, we’re not going to be their best alternative and we will say so. Our evaluation process is done in three steps and usually only takes a total of a few hours to provide an offer.
Our goal is to make the offer appropriate to the current value of the home and, if possible/necessary, provide some additional cash on top to help the seller. Could be money towards moving costs. Or maybe it covers the security deposit on a rental. How it’s used isn’t our concern, but we do want to be fair and supportive.
GLG Homes, LLC is a company that buys and redevelops homes. We are upfront with every seller and make it clear from the first phone call – we want to help and we will treat you with complete respect. Please, if you have any questions contact me directly at [email protected].
Thanks and we look forward to hearing from you.