Selling your house is a difficult task. It involves lots of negotiation and a long wait. You have to make plenty of trips to real estate agents. There will be some inconvenience during the physical house showing if you are staying in your house.
You may or may not get your desired price. Even after all the hard work, the deal may fall through at the last moment.
In such a scenario, companies that buy houses for cash look tempting. These companies offer you instant cash in return for your house. But is the picture so rosy as shown? Are the promises made by companies that buy houses for cash true?
What are “we buy houses” companies?
In simple terms, these are companies that purchase your house and pay you cash. Let’s examine the workings of companies that buy houses for cash.
The “we buy houses” companies even purchase houses that are old and need repairs. You have to contact them with the details of your house. They may offer an online price estimate for your home. They send their employees to assess your house.
The final value is adjusted according to the condition of your house. The deal is closed quickly.
These companies base their price on factors like the condition of the house and its location. You don’t need to undertake any repairs or do any cleanup. Their offer remains active for around a month.
You can accept or reject their offer during this period. Some companies that buy houses for cash offer to settle the deal in as little as 10 days. We buy houses reviews speak of a hassle-free house sale experience.
These companies purchase properties and then undertake the necessary repairs and renovation. Subsequently, these properties are sold in the market at a much higher price.
Advantages and disadvantages of “we buy houses” companies
Pros:
- You get cash quickly. This is great for people who are going for a distress sale
- Fewer formalities. You don’t have to deal with multiple buyers
- No negotiations. You don’t have to indulge in tricky negotiations.
- You don’t have to worry about making your house look good in front of buyers
- The process is fairly straightforward
- The sale is certain. The companies usually don’t renege on their offer
Cons:
- You may not get the best price for your house
- The price offered by companies that buy houses is usually much lower than the fair market value
- You don’t have any negotiating power
- If you are going for a distress sale some companies may try to pressurize you into accepting a lower price for your property.
If you are selling your house to “we buy houses” companies then it is better to get a quote from multiple companies that buy houses for cash. Some companies offer better value but still, their price will be below the fair market price.
If you want to get the best price for your property then it is always better to list it on a site like Houzeo.
The Houzeo experience
Houzeo is a tech-intensive website meant to assist owners in their house sales. It offers plenty of tools to assist you in getting the best price for your property. These tools are usually used by real estate agents.
Houzeo has no hidden fees or commissions. You get the best value for your property without paying any commission. You can check Houzeo reviews for more information.
Features of Houzeo:
IntelliList Listing Management System: This system makes it easy to list your home. Listing is as simple as logging into the website and providing the necessary details. Just a few clicks and your house gets listed.
You are also assigned a broker according to your choice. The website offers you plenty of guidance on the documents to be submitted.
You have full freedom to make any changes to your listing at a later date. You can request changes online. The entire process gets done quickly.
Houzeo offers: You can compare all the offers online. Houzeo also offers assistance in deciding your best price. You can also put forth a counteroffer. If there are numerous offers then you can call for the highest and best offers.
Houzeo Showings: This feature is meant to help you schedule your property showings. You can allow in-person showing or virtual showing. The duration of the showing appointment is your choice.
You get access to the contact info of buyers and agents who request showings. You can reach out to them and schedule your showings at your convenience. If your property is occupied you can schedule an advance notice period for convenience.
Houzeo website allows you to reschedule the requests. You can also view the activity and feedback on your house. The feedback can enable you to undertake any modifications necessary to your property. You also get to keep track of the past and upcoming showings.
You can select a settlement agent to close your transaction. Advantages of Houzeo as compared to traditional sale methods.
- Transparency: The entire process from listing to sale is transparent.
- Convenience: You can sell your property from the comfort of your home. You don’t have to book appointments with real estate agents.
- Comparison: You can compare all the offers you receive.
- Maximum choices: Unlike”we buy houses” companies your property reaches thousands of buyers. You receive multiple offers.
- Flexibility: There is no compulsion or timeline for the sale. You can conduct the deal as quickly or as slowly as you want.
- Expert advice: The reason most people hire real estate agents is that they are unaware of the nitty-gritty of the transaction. Houzeo provides you with expert advice at every step of the process. You can also hire experts through the Houzeo platform.
- Greater control: You can control every aspect of your house sale. Whether it is listing, showing or the final closing you have a choice in all matters.
- Saving of money: You get to save the commission spent on real estate agents. You also get the best price for your property.