Cash For My House
Looking for someone to pay cash for your house? What does it really mean when a home buyer says they will pay cash for my house? Why do I care if a buyer gets money by a mortgage vs a cash home buyer?
These are are some common questions that sellers have when looking for a quick sale on their home. First let’s address some of the reasons why a homeowner would need to sell their home fast:
-House needs repairs
–Inherited an unwanted home
-Own a house out of state
–Tired of being a landlord
-Job loss or job relocation
-No money available to make repairs on home
-Need money fast!
-Want to sell without a realtor
–Facing foreclosure or need to short sale
Did I miss any? I’m sure I did since everyone’s situation is unique and there are many reasons why you would need to sell your home quickly. Whatever the reason, you have a few options to sell your house, but which options are best?
Options to Sell My House
1. Sell FSBO (for sale by owner)
2. List with a Realtor
3. Sell to a cash buyer
Let’s take a deeper look into each of these below:
1. Sell FSBO can be a good option if you understand what’s involved in selling houses, don’t mind waiting a few months for the house to sell, don’t mind holding open houses or paying holding costs. While some sellers might have success in this area, statistics show the percentage of homes sold by owner are very low. Most often the homeowners see what’s involved in trying to sell their home and quickly give up.
2. Listing with a realtor can be an option for the same reasons above and also if you don’t mind paying a commission (typically 6% of the purchase price). This is an option if the agent prices the home right and the seller doesn’t mind paying the commission. There are two problems that sellers usually have with this route. The first problem is the commission severely decreases the amount of money taken home by the seller. The second problem is most agents are only familiar with houses that don’t need work and are mortgageable.
3. Selling to a cash buyer is another option. This option is a great alternative to the other options listed above. When you sell to a cash buyer, you don’t have to wait a long time for your house to sell. The funds are available and there are no mortgage contingencies. This shaves of weeks from the selling process. Another benefit is that you won’t be paying any real estate commissions, this saves you thousands of dollars. Lastly you won’t have to deal with the hassle of trying to sell the home yourself, dealing with tire kickers, or even getting stuck making repairs.
Selling to a Cash for Houses company
If you feel that selling to a cash home buyer is your best option, the next thing to consider is which cash buyer to chose? It’s no secret that real estate is starting to turn around. With the marketing improving, we are also seeing a large number of people looking to get into the real estate market and “get rich quick” (is there such a thing?). This is problematic for sellers like yourself. You wouldn’t trust a student in medical school to perform open heart surgery on you, would you? Of course you wouldn’t, nor would you trust your most valuable asset with someone who isn’t qualified or doesn’t have the experience.
With all these “get rich quick” real estate systems, it’s easy to be fooled. Don’t let this happen to you. Here’s how you can make sure you deal with the right cash home buyer that will pay you cash for your house.
-Get a list of testimonials: references are a must and is self explanatory! Take a look at our testimonials page. We have many happy sellers throughout New Jersey 🙂
-Get POF (proof of funds): you want proof they can buy your house! Third party POF letters from transactional brokers/funder’s are a red flag! Make sure they have the money in their account.
-Ask them the following: “Will you be purchasing this house yourself?” You want to make sure you’re dealing with the person actually buying the house
-Ask them for houses they have recently purchased. To really dive in further, you can ask them for details of their current rehabs.
These questions sound pretty harsh don’t they? On the surface, I’m sure they do, however, any reputable buyer will have no problem sharing this info with you. Are you still looking to sell your house for cash? If you need cash for your new jersey house, my team and I would love to make you a fair cash offer. We buy cash and can close fast. Please take a look at our testimonials page and our Facebook fanpage for houses we are working on.
I am more than happy to share any of the requested info above with you and look forward to solving your house problem. Contact us today using the contact form on our main page or call us directly at 973-551-8210.