We Buy Margate Houses: Top 4 Companies

Pros and cons of Margate’s Home Buying Company

If you are selling to a home buying company in Margate, it is important to understand the disruptive and potential drawbacks. These companies offer a quick and easy way to sell, but this ease can sometimes come at a price. Here’s what you need to know:

A person who sells to a home buying company in Margate

• Quickly close: Most homebuyers can close within a week or two, which is much faster than traditional sales. For example, sales through Margate agents may take about 105 days (average average days for settlement loans + average market days for Margate (64).
• No family preparation: You don’t have to worry about repairs, upgrades, installments or cleaning. These buyers accept the home.
• No financing barriers: Since these are cash sales, there is a risk of not reaching a deal due to unexpected events or loan approval issues.
• Less effort: You don’t have to manage the exhibition, open house or proposed negotiation process.

Disadvantages of selling a home buying company to Margate

• Lower sales price: When you sell cash, you may receive a quote below market value, which means you can walk away with less money than using an agent. Our homebuyers usually follow a 70% rule, which means they will provide 70% of the estimated post-heavy shoe value (ARV) of your home, which is the estimated repair cost.
  • Example: Suppose your Margate home is worth $350,000 and needs to be repaired about $30,000. Use 70% rule: ($350,000×0.70) – $30,000 = $215,000
  • In this example, a Margate cash buyer might offer you a home of about $215,000.
• No negotiations: These companies usually offer firm, even-paid offers, so there is little room for negotiation.
• Distrustworthy buyers: Not all cash buyers are reliable or even legal – some may defraud sellers in distress as buyers.
• Less Seller Protection: Cash transactions will often like buyers and provide sellers with less legal or contractual protection.

It is important to note that working with leading Margate real estate agents can lead to higher financial returns.

For example, after considering typical sales expenses, such as settlement costs, agency committees, and market preparation, experienced agents may help you get $330,750 or more – a big difference compared to cash quotes.

Your situation is important

The right approach depends on the condition of your home, the necessary repairs, and your overall sales target. If your biggest concern is speed, a cash quote may be the best option. But if it’s more important to maximize your selling price, listing with a trusted Margate real estate agent may help you achieve higher prices.

Regardless of the route you want to consider, it is crucial to do research before committing to any major deal, especially ones as important as selling a home.

At Homelight, we recommend that you first consult a knowledgeable local agent. They can give you a realistic estimate of the home’s market value and help you compare it to any cash offer you receive. Homelight can connect you with the best performing agents in the Margate area if you prefer.

Need a quick starting point? Try Homelight’s Home Value Estimator to estimate the value of your property in less than two minutes.