If you’ve decided to sell your home for cash to a house buying company, with the right research you can steer clear of scammers and find a reputable home buying business in your neighborhood.
With so many real estate investors operating in your city, here are some questions you should ask to find one that’s the right fit for you.
Questions to ask your home buying company
Are you a locally based business?
Ask the company where they’re based. Choose a reputable local company instead of a franchise as they will inevitably have a greater understanding of the housing market in your area.
Local investors are more attuned to the volatilities of the changing real estate scenario and will take that into account when deciding your offer price.
Is your business accredited?
With “fast cash for home” scams being ousted every other week, many homeowners are now cautious when trying to sell their home for cash. Researching the history of your home buying company is an important part of ensuring that you’re dealing with a legitimate business.
In addition, check if the company has an accreditation that you can trust, such as a BBB (Better Business Bureau) rating. Safeguard your interests by working with a company that has a high BBB rating or other industry accreditation that establishes them as a reliable and legit business.
How long have you been in business?
A buying company is a real estate investment business that buys from homeowners who want to sell their property fast without spending on repairs or agent fees. The house buying company then repairs and refurbishes the house to sell it at a better price. The number of years a company has been doing this reflects on its experience as well its market standing.
Typically, you should aim to sell your home to a local company that’s been around for at least five years.
How long will you take to close the sale?
A good house buying company such as Druther Home Buyers that have the necessary resources for a swift sale will usually present you with a no-obligation all-cash offer within 24 hours of visiting your property. And they should be able to close the sale in two or three weeks, and even sooner if needed.
How can I be sure you’re offering a fair price?
You should be able to get the best price for your home, so don’t hesitate to ask the buyer how they arrived at the figure offered to you, and remember that you’re not obliged to accept their offer.
What fees do you charge?
Credible house buying companies do not charge any closing fees or commission. Regardless, remember to ask if you’ll be charged any fees at all.
Questions to ask yourself when selling your home to a cash buyer
- Are you happy with the offer made to you?
- Is the buying company willing to provide you with a detailed contract?
- Does the buyer seem genuine and empathetic to your situation?
- Are they available and willing to resolve your queries?