What are cash for houses companies?

When it comes time to sell your home, your mind may automatically go to finding a real estate agent. However, there are cash for home companies available that you may want to consider first. How does this process work? Is it legitimate? We’ll break down this process and help you determine if it’s the right choice for you.

Cash for homes 101

First things first: cash for houses is lawful business practice. Much like with any other company, however, you want to make sure you are working with a reputable individual before proceeding with them.  

Every cash for houses company is different, so you’ll want to confirm all details, questions, and concerns with the company you go with beforehand. However, there is a basic outline to what the process looks like and what you can expect:

  1. Reach out to the company. After you’ve browsed the company’s website and have questions or want more information, reach out to them. You are doing your research on the company and they will want to get some information from you, too. In order to give you the most accurate information, the company may ask you a few questions about your home, like how old it is, its size, its lay-out, and what the current condition of your home is. Again, this varies company by company.
  2. Meet and greet. The next step is often a representative from the company meets you at your house. They do their own version of an inspection and explain how their individual process works for their company. Depending on the company, you likely won’t have to do repairs. With a cash for house sale, the best part is how quickly you are able to get cash for your home. Whether you’re in a hurry to move or need to relocate, you’ll want to work with a buyer who can offer cash in your hand within 7 days. 
  3. Close – quickly. Another advantage to going with a cash for homes company is the fact that you won’t have to be slowed down by lengthy processes. No more staging your home, making repairs or upgrades, having private and public showings, working with difficult, demanding banks, or the up-and-down roller coaster of contingencies. Cash sales mean closing much faster, which means cash in your hand sooner. 

Something else you will want to confirm: If repairs need to be made. The best type of cash for home companies does not make you do any repairs or upgrades. Not only can this slow the process down, but it can cost a lot of money. 

There are several different areas and components you will have to check, starting with the kitchen and bathrooms (since these areas have the most mechanical systems):

  • Kitchen appliances (refrigerator, stove, dishwaver, and microwave)
  • Cabinets (no loose hinges, stuck drawers, broken or missing knobs, or any type of damage)
  • Sinks and faucets (need to run leak-free and drains should be free and clear)
  • Bathtubs and showers (fixtures should be fully operational and no clogs. No broken tiles, no peeling acrylic

Next, you’ll have to take a good look at the interior of your home, looking at:

  • Walls and ceilings (no nail holes, dings, dents, discoloration)
  • Floors (need to be in good condition, with no chips, scratches, dents, or cracks)
  • HVAC and water heater (good working order with no leaks or dirt)
  • Smoke and carbon monoxide detectors throughout the home
  • Electrical panel and circuit breakers (everything must meet current codes

You’ll also have to take a look at the exterior, namely:

  • Doors
  • Garage door
  • Roof 
  • Drainage
  • Foundation
  • Your yard
  • Deck and/or patio
  • Landscaping
  • Fencing

This is just a general list that most real estate agents will look at before considering selling your home. A long list of lengthy repairs can come out of this. Additionally, even if your home is in good shape, you may have to make upgrades to meet current likings. While your home may be designed and decorated the way you like it, your real estate agent will likely have many suggestions on what needs to change to make it more appealing for buyers. 

When going with a cash for homes company, you won’t have to worry about repairs, redesigns, or staging your home. Your home will be bought outright, allowing you to move on to whatever is next in your home journey. 

What to keep an eye out for

As we mentioned above, cash for homes is an honest business. However, like any other industry, there are companies who are not going to be fair or honest. According to Trulia, these are the red flags you will want to keep an eye out for:

  1. Empty ads. Can’t seem to find any information on the company besides a phone number? Happen to just see a sign hanging up for the company? Empty ads could mean empty promises.
  2. Unprofessionalism. This one may seem like a no brainer, but if something feels off, odds are, it is. High-pressure sales tactics, acting like your best friend (even though you just met) or other shoddy practices can all be major red flags. 
  3. Bursting ads. Just like an empty ad, an ad full of useless information can be sketchy, too. Trulia writes that a financial info dump, sending tons of bank statements and various other details by email, could mean fake documents. 
  4. Weird behavior. Always listen to your instincts, no matter what company or person you are dealing with. If a person seems too vague or too forthcoming, or is too available or too unavailable, it could be a sign for you to walk away. 

Contact Honest Home Solutions

You’ve done your research – now it’s time to contact the best! Honest Home Solutions will have a cash offer in your hands within 7 days. No need to worry about fixing up your home – Honest Home Solutions will make your sale quick, easy, and fair. Contact us today! 

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