Transparent or Shady?
We’ve all heard commercials or seen advertisements for “we buy houses for cash” businesses, also called cash buyer companies. For some reason, these home buying companies can seem, somehow, ‘less than above-board’. It leads to some home sellers asking the question, ‘are these house flippers legit?’ Today we are tackling this stigma, to get all the answers you need, once and for all! Let’s get started.
The Types of Cash Buyers
Individuals (or Couples) – Your Local Real Estate Investor
First, let’s go over the three main types of cash buyers, the first one being individual, local real estate investors who flip houses for a living. Typically, they make purchases on or off-market, depending on the opportunities available. Sometimes they live in the home they purchase while renovating it, other times they may buy houses for rental properties.
These house flippers are looking to spend less money to buy ugly houses no one wants, and still get a high potential resale value when they fix them up. They attend property auctions, foreclosure sales, etc., or wherever they can find the best bargain prices.
iBuyers – Multiple Investors
WHO ARE iBUYERS?
iBuyers are the new wave of technology for many real estate investors such as Zillow, Redfin, OpenDoor, etc., who use the internet to facilitate the houses they buy. They use data collected by special algorithms and artificial intelligence (AI, or a ‘robot’) to calculate and make cash offers. They typically pay more money for the houses they buy than other cash buyers, closer to a home’s fair market value.
THE FEE
However, even though home sellers get better cash offers here, they may not be aware of the fact that they also charge a service fee. This conveniently omitted detail is about the same amount that real estate agents charge as commission, and any repair costs are charged to you, as well. Additionally, these cash buyers are only interested in houses that need very little or no work, before resale. iBuyers buy houses for a lesser profit margin because they depend on volume.
THE OFFER
The AI buys houses online (sight unseen), using data collected from public records and other sources of information to come up with a cash offer, usually 5-10% less than fair market value. The cash offer is determined by the amount the house could be sold for on the open market, in its current local market conditions.
Other Cash Buyer Companies (Legitimate)
Then there are other legitimate companies that buy houses for cash but in a more ‘traditional’ manner. In other words, visiting the property in person and dealing with people directly. A cash buyer company typically pays less, for instance with Sell Your House Fast – Mississippi, we have a formula to our process that anyone can use beforehand to get a good idea of what a cash offer from us will be. Most companies that buy houses have hidden fees or other costs involved in a cash sale, but not us.
Sell Your House Fast – Mississippi
Here at Sell Your House Fast – Mississippi, we’re cash buyers who care about our clients and want to help find win-win situations for people who need to sell fast. We are built on integrity and reliability and believe in full transparency. You can visit our homepage right here on this website and get full details on our process at any time. We understand sometimes in life plans change, and so do timelines. People need fair solutions from companies they can trust.
We make fair cash offers based on a purchase price of estimated open market value, minus estimated repair value. We do not charge any service fees, and in fact pay all closing costs and legal fees, or any other costs associated with the sale of your house. Sell Your House Fast – Mississippi is the cash buyers who care!
Reasons People Choose A Cash Buyer
Let’s go over some of the main benefits of selling your house for cash, so you can easily see the reasons why some people choose this method:
- Fast closing time – with cash sales you can have the money within two weeks, and sometimes in just seven days, depending on the situation! With a financed purchase, the average closing time is approx. two months.
- No real estate agent = no commission – no real estate agent is necessary for a quick cash sale, and typically they’re done off-market anyway. Many sellers don’t realize that even if they don’t use an agent themselves, 6% of the sale price goes to the buyer’s agent instead of splitting it between the two. (6% of $125,000 = $7,500!)
- No repairs necessary – at Sell My House Fast – Mississippi, we buy ugly houses too! In fact, we buy every house ‘as-is’, regardless of its condition.
- No home inspection – a lender requirement that isn’t needed for cash transactions.
- No appraisal fees – an official appraisal is another lender requirement and is not necessary with cash purchases.
- Flexible closing dates – in addition to faster closing, if you need extra time to get clear of the house for whatever reason, Sell Your House Fast – Mississippi allows you to choose the timeline for yourself!
- No open market selling costs, etc. – selling your house on the open market involves a lot of costs that really add up quickly if you think about it. In addition, it requires time and extraordinary energy to prepare a house for a traditional sale. Open houses, curb appeal, virtual and live showings, staging costs, renovations, home repairs and home inspections, official appraisals, packing, cleaning, moving, etc. Time, energy, and money saved.
- No potential buyers issues/deals falling through etc. – problems with financing, seller/buyer concessions, or a multitude of other problems can cause a deal to fall through at the last minute. Traditional sales are stressful!
Closing Remarks
Sellers and buyers alike love the quick simplicity of cash home sales. To get started by obtaining a free, no-obligation, no strings attached cash offer from Sell Your House Fast – Mississippi, just fill out the short form located here and a cash buyer will be in touch shortly to schedule an appointment to see the property in person.
At that time, the representative will be prepared to make you a cash offer on the spot, you can take it or leave it with zero fees. And remember, we buy ugly houses, pretty houses, and everything in between – these are as-is purchases. What have you got to lose? If you’ve been thinking about selling your house for cash, check us out today! Visit Sell Your House Fast – Mississippi, cash buyers who care.
As with any cash house buying company, before dealing with anyone, do your due diligence and look up the business on the Better Business Bureau website, and make sure they’re in good standing. Good luck and happy selling!
