There are a large number of house buying companies all across the country that advertise as wanting buy houses in “as is” condition, in addition to being able to pay cash for them and close much faster than a conventional buyer. So why would you want to contact one of these companies in your area if you have a challenging house to sell? Also isn’t it true that those types of companies just want to try and rip you off? These are two very important questions that I’m sure you have asked yourself if you have a fixer type house to sell that may not be best suited for the retail market in its present condition. For the remainder of this article I am going to address these important questions and more in order to help you better understand why these “We Buy Houses” companies exist and how you may be able to utilize the services they provide in your area.
If you happen to be in a situation where you need to sell a house that is in dyer need of major updating and/or some renovation and repair you can be sure that the traditional way of selling a house will be a bumpy ride for you. When people have a “pretty house” to sell they generally call their local realtor, have them come up with a list price that is supported by comparable properties and they list the house for sale on the RMLS realtor network. The hope is that other realtors will see the property and have a buyer for it, then soon thereafter you will be presented with an acceptable offer for the property and you will be on your way to a hassle free closing. Although no real estate sale is that easy these days, that is the general process for houses that don’t need and major updating or repair.
If you do happen to be selling a house that is in need of minor TLC and updating to major renovation and repair, you can pretty much expect a bumpy sales process if you plan on going the traditional route that was just described. The first reason is because most people will always contact a realtor or two in the beginning stages of trying to sell a property….and in this type of case that is where the first misstep can take place. The problem with houses that need major updating and repair (besides the obvious) is that realtors generally have no clue what they are really worth, so quite often they will throw out a number that sounds great in theory but will never come to fruition. I like to call this buying the listing and some realtors will do it intentionally to help secure a future paycheck while others will do it out of pure ignorance because they just don’t know any better. The 2nd major stumbling block that you will hit going this route is that you run a large risk of having …Read more