We’re betting that you have spotted the signs all over your town that have been stapled to telephone poles or staked into the ground. They say things like “We Buy Ugly Homes” or “We Buy Any House.” These signs are there to tell you that there are companies willing to purchase your house despite how old or run-down it is. These people are generally investors who keep an eye out for homes that they can buy and flip to make a profit. Many real estate investors are now using house flipping as a lucrative way to up their profits, quickly and easily.
When you are trying to sell your home, you may be interested in hearing what these companies have to say. Unfortunately, house flipping investors may not be the right solution for your particular situation. Before calling and inquiring after one, it is important to learn more about what they do.
Remember, the “we buy any home” company has one major goal in mind- buying homes for as cheaply as possible. Many target desperate homeowners who have been attempting to sell their house for months. They may offer 50% to 70% of how much the actual value of your home is depending on your eagerness to sell. House flipping means that the investor is out to purchase a home for much less than what it is valued at, repair it, and then sell it for a big profit. It is known as a “flip” because it is usually done quickly.
Before you sign away your home to one of these companies, read the pros and cons first.
What are the pros of selling your home to a local house buying company?
1. It’s a lot easier to sell your home
This is especially true when your home needs a lot of work done to it before you can actually make a profit off of it. By choosing a house flipping company you are avoiding the headache of trying to get a good price on a home that needs repairs. It also quickly frees you from owning the home, especially if you are desperate to sell.
2. There is only one decision to make
You only have to decide which house flipping company you will be selling to. You won’t have to worry about how you are going to make repairs, what real estate company to use, and who you want the house to be sold to. The house flipping company will give you an offer and that will be that if you decide to accept it. Since most of the companies pay cash, the closing process is also much easier.
3. You do not have to worry about getting the best real estate agent
With the influx of real estate agents, especially all over social media, finding the best one can be tricky. You don’t want to just hire someone because they have an ad on your local park bench! When you go with a house flipping company, you won’t need to worry about finding a reliable agent.
4. You won’t have to do the “sale by owner” offer
It’s not easy trying to sell your home without a real estate agent. Sure, you may save on the commission, but is the extra hassle worth it? In order to sell a home on your own, you will need to take your own excellent pictures, market your home online, be available for showings at times that may not be convenient to you, and deal with the actual financing part yourself. Selling your home to a flipping company avoids this whole ordeal.
5. Your home is likely to sell no matter what
If your home has deteriorated over the years, selling it yourself or through a real estate agent is going to be hard. You may even be living in a house that is nearly uninhabitable. A company that buys houses like Seller’s Advantage will not care about how poorly kept up your home is. They will likely offer you money for the house, even if it isn’t very much. They may even be after the lot the home is sitting on and not the house itself. If the house itself is in terrible shape, it is often more lucrative for the buyer to tear it down and rebuild.