What Questions Should I Ask A Local Cash Home Buyer from a We Buy Houses Company?
Updated: May 13
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Here are 4 Super Important Questions to Ask Before You Sell Your House to a Cash Buyer
You need to sell your house fast so you’re on the internet searching for a local cash home buyer. First thing you need to figure out is which company you can trust. If you need help finding a trustworthy cash home buyer you should read this article “Who Are These “We Buy Houses” Companies and Can They Be Trusted?” Once you find a reputable and honest firm to sell your house to, you’ll need to ask them a few very important questions. Here are 4 super important questions you should ask a local cash home buyer before you sign a purchase contract.
Questions One: What Fees Do They Charge for Their Service
A real Cash Home Buyer should have zero fees or costs associated with providing you with an offer to sell your house fast. However, some investors are sneaky and try to add processing fees and transaction fees into the purchase agreement to make a few extra bucks. So make sure you ask them if they charge any fees and what those fees are actually for. Always review your purchase agreement in full and look for anything questionable. If you need assistance, the real estate investment specialists at the Ligon Group are always here to help.
Question Two: Will the Property be Purchases As-Is
If you are selling your home to a cash buyer you’re probably not looking to make any repairs. I’m sure the goal is to sell the house in its current condition. Before you sign a purchase contract to sell your house ensure that the sale is for “As-Is” condition. The cash buyer should be agreeing to purchase your house without you needing to do any repairs or work to the home. Review the offer/contract and make sure that the buyer is agreeing to buy the house in its current condition “as-is”.
Question Three: Do They Pay ALL the Closing Costs
The Closing costs associated with a real estate transaction aren’t the same as service and transaction fees. Closing costs are legitimate costs associated with purchase and charged by the closing company. Typically the closing costs can range from 3-6% of the homes purchase price. If the investor isn’t paying all the closing costs then you need to be aware that these fees will be deducted from the agreed purchase price of the home at closing.
Question Four: How Fast Can They Close
A typical real estate transaction on a residential home closes within about thirty days. However, if you are dealing with a real cash home buyer, they should be able to close the deal in just a few short weeks. In some cases they may even be able to close the deal within a few days. The difference between a real cash buyer and a conventional home buyer is access to capital. A cash buyer has instant access to the funds to close and a conventional home buyer needs to acquire a loan from a financial institution in order to close. Since the cash buyer isn’t bound by banking guidelines they should be able to accommodate a fast close, or even provide you with time if you need it.
Bonus Question: Can They Assist You Further (Optional)
Depending on your particular situation you may not require any further assistance. However, in our experience many sellers have asked us one of two questions?
· One: Can You Help Us Find a New Home
· Two: Can You Guide Us In Investing The Money We Just Received.
If you find yourself in a situation where you’re in search of a new house or in need of investing ideas for the funds you just received, you should be able to request assistance from the investment firm that you are dealing with.
Selling a house to a local cash buyer doesn’t have to be a stressful process. If you do your research and find a trustworthy reputable company the process should be super easy. And if you make sure to get answers to the questions above you should be able to avoid any issues with the home selling transaction. Good luck and as always if you need any help with anything real estate related, simply contact the professionals at the Ligon Group.
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