When you’re selling a home, it’s a good idea to fully understand the property buying process and timeline that an endeavour like this takes. If you’re looking for a cash for homes buyer, this can get easier- but that doesn’t mean that it’s always perfect, or that your buyer is who they claim to be. If you hope to sell your home for cash and want to know more about how to pick the right group, you’ve come to the best place.
Why Should You Sell With A Cash Buyer?
Cash buyers are one of the best ways to go when you’re looking to sell a house. They always know exactly what your home is worth, and even better, you can sell in as-is condition. No more pesky repairs or renovations that eat up your budget! Cash buyers always know what you can take, and they don’t want to cost you any money at all. Every time you sell with a cash buyer, you’re guaranteed to close, and you never have to spend a dime. While you may make a little less than you would on the market, due to the property buying process and realtor fees you probably would’ve paid the same amount through renovations and commissions anyways. Cash buyers are quick, easy, and know what they’re talking about- and they usually have your best interests at heart when they offer to buy your home. Sometimes, though, there can be scams- so you need to vet your buyers carefully before you sell.
- Buyers Should Purchase Your Home Outright
If your cash buyer doesn’t have the money in their pocket before they sign the contract, that’s a sign that your deal might fall through. If your cash buyer doesn’t have cash, that means that they’re relying on loans to buy your house. This means that they’re entirely reliant on a lender, like a bank or a credit union, to give them the money to buy your house! With a financed cash buyer, your sale isn’t totally assured– that makes these groups not the people you want to sell your home to.
- Right-Away Contracts
Some cash buyers might pressure you to sign your contract immediately, maybe even before you’ve finished settling your offer. Within a few days of agreeing to sell your home, they’re already showing up and asking you to sign paperwork- and this is a great way to get scammed. You always deserve the space to think about your sale before you sign a contract, and being forced to go through paperwork right away is a good sign that your buyer might not be as legitimate as you think. If your cash buyer is forcing you to sign papers within only a few days of first speaking, that’s a good sign that you don’t want to sell your home to them.
- Decreasing Your Price Right Before Signing
Another thing questionable buyers will do is tell you that your price may change late in the game. While this sounds okay, at first, it also means that you might get your final contract and learn that there was a huge decrease in the price that they’re buying it for. This is a bad move on their part, and you deserve better! If your cash buyer pulls something like this right before you sign your final contract, drop the deal and look for somebody better.
- Charging You Money Right Away
If your cash buyer is charging you money for them to even consider buying your home, that’s a good sign that it’s a scam. Even if it does pay for surveys and solicitors, there’s still a very real chance that that buyer will just take the money and run, which means that you’re out of your money and still stuck with your problem home. Don’t trust any cash buyer who asks for money up front- instead, look for a different buyer to help you sell your home.
The Cash Property Buying Process Should Be Simple
If you go through the process of property buying, you can find simple places to vet each of your buyer candidates. If they don’t measure up, don’t sell to them! Cash buyers are great, but not all of them are truthful. Protect yourself- and your house- with these tips about how to spot scams and faux buyers.