There are numerous places that can help you get your home sold quickly and efficiently. One of the many ways to do so is to go through a company that will buy your home and resell it in an as-is status if you don’t want to end up going through a real estate or mortgage broker. Of course, there are extreme benefits of convenience and efficiency with this method, but there are always ups and downs. In this article, we’re going to give you that list of pros and cons of a We Buy Houses company, so you can know what to expect.
Depending on your situation, you may need to sell your home quickly just to get it out of the way. If any of the following reasons are necessary:
•You ended up needing to move for a job to a new location.
•You may have inherited a house that you don’t plan on keeping.
•If you received the house from divorce, but aren’t going to live there.
•Your house has been foreclosed, or you purchased a foreclosed home.
•If your home is damaged and you don’t want to fix it.
•You can literally just grow out of the need of living in your home and have moved into a bigger home.
You can get your home sold quickly to a we buy houses company. Here’s the pros:
1.You can get your house sold quickly because of the above reasons.
2.They will buy your house for a quick lump sum of cash.
3.Your home will be bought, then resold as-is.
4.You can move forward without a worry as your home is quickly purchased from you.
But What’s the Catch?
As mentioned, there are plenty of benefits, but there can also be drawbacks. Not only this, there are plenty of “house flippers” (which is the practice that we buy houses companies use) that are real, but there are also scammers. You need to research your company to make sure that you’re not going to get scammed though. You can even talk to a relater in order to find out what companies are legit or not. Here’s the list of cons from using a we buy houses company:
1.You don’t have control once the purchase is made.
2.You will make far less than if you use a realtor to sell your home.
3.You lose the option to make home improvements for increased value.
4.The company doesn’t have your interests in their mind (they are there to get their company profitability, not you).
5.You may be liable for taxes due before and even after you sell your home in this method.
Your home is bought as-is, which means it’s not worth what it is really worth. It is then upscaled by the company, which gives them what you could have gotten if you had sold them to a retailer. Not only this, but many of these companies can get even more profit because some of them will even pay a small price to fix up the homes, therefore highly increasing the value of the home. Even though there are a few cons, the positives can also outweigh them. So it’s not always a bad idea. Just make sure you do plenty of homework in order to make sure you find the best company that’s right for you.
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