What exaclty are "we buy homes" companys?
The real estate market, like many other things, has evolved through the years. Now you have more options in how to sell a home than ever before.
The real estate market, like many other things, has evolved through the years. Now you have more options in how to sell a home than ever before. It won’t take you too long to spot a “we buy homes” sign driving through the city and you may be left wondering what exactly does that mean. We are here to tell you everything you need to know about these companies.
An Introduction to “We Buy Homes” Companies
We buy houses is a tagline used by many real estate investors and due to the use of this catchphrase these investors are usually known as “we buy homes” companies, like John Medina, Buys Houses.
The first thing to know about these we buy houses companies is they offer cash for homes and don’t rely on a mortgage-backed sale. This often makes them an ideal option for people looking to sell for instant cash. Another important characteristic of we buy homes companies is that they often advertise as “we buy houses any condition” which means that they can buy properties that will be hard to sell conventionally.
Positive Aspects of “We Buy Homes” Companies
There is ample good reason that people are opting more and more for a we buy homes company to sell their houses. Whether you need to sell a house fast or you cannot afford repairs, there are multiple scenarios where selling to a we buy homes company has advantages for the seller.
Easy & Convenient
“We buy homes” companies will take a house off your hand no questions asked. It means you can skip all the repair and maintenance work and sell the house as-is. A reputable cash home buyer like John Medina Buys Houses will make sure to let you just sit back and relax while they do all the heavy lifting. You will not have to worry about any paperwork, staging, cleaning, repairs or visits. Selling to a we buy houses company is as easy as can be!
Instant Cash For Homes
Another big draw for sellers to consider “we buy houses” companies is that they can get fast cash for their homes. These companies are arguably the fastest way to get cash in your hands. A good company can close the deal in as few as just 10-14 days.
At John Medina Buys Houses, a reputable we buy houses for cash company from CA, can
Foreclosure? No Problem!
A property that is in foreclosure is very hard to sell on the market but a we buy houses company will still be interested to make you an offer on your foreclosed house. So if you are behind payments or at risk of foreclosure, cash home buyers could be the right option for you.
No Need for a Real Estate Agent
If you want to sell your house on the market you will need a real estate agent to do so. It is not easy to find a good real estate agent and finding one is a task on it’s own. Moreover a real estate agent also takes a percentage of the house sale as commission. With we buy homes companies, you don’t need a real estate agent.
The Negative Aspects of “We Buy Homes” Companies
What is good for one is not necessarily good for others, and so is the case with cash home buyers. There are a few reasons that may make selling your house to these companies a bad option.
Not The Highest Price You Can Get
If you want to sell your house for the highest price that it can fetch then selling to a cash buyer is often not advised. If the added cost of repairs and maintenance are trivial compared to the price the house can be sold for in good condition, then selling through a real estate agent is the better option.
You Can Get Scammed
There are many unethical cash buyers that will be looking to exploit your stressful circumstances for their profits. The best way to save yourself from such practices is to approach a reputable and ethical we buy homes company like John Medina Buys Houses.
Are These Companies Legit?
The marketing for these companies is very attractive and makes you wonder if they are even legit. You can say goodbye to any insecurities you have because “we buy houses” are 100% legitimate. So how do they do what they do and offer you cash in a matter of days you ask? House selling is a long process mainly due to the need of a mortgage backing and loan approvals, but a cash home buyer can bypass all that by offering to purchase the house directly for cash. This allows these companies to close on home deals unbelievably fast.
These companies are motivated to do all of this to make a profit by:
Buying houses in hopes of reselling them quickly to make a profit. This is called house-flipping.
They can also convert any property they buy into a rental for a continous revenue stream.
Buying a rundown property for cheap and Converting it to sell for a profit.
These are the reasons a cash buyer may be willing to go above and beyond to buy your property that others seem to avoid.
Should You Choose a We Buy Homes Company?
Different options exist for different people. A traditional home sale makes more sense if you want to sell your house for the highest price, but there are no guarantees when the house will sell or if it even sells. A cash home buyer iThe real estate market, like many other things, has evolved through the years. Now you have more options in how to sell a home than ever before. It won’t take you too long to spot a “we buy homes” sign driving through the city and you may be left wondering what exactly does that mean. We are here to tell you everything you need to know about these companies.