Pros and cons of surprising home buying companies
For sale to an amazing home buying company. Quickly check out key benefits and disadvantages to help you determine if this route is right for your situation.
A surprise home buying company offers speed and convenience. These companies will purchase your home as is without any repairs or cleaning. Most sales are much closer, far more surprising than the average market days.
Surprise for sale to home buying companies
- Quickly close: Many homebuyers can complete your sales in a week or two, and this is ideal if you need to move quickly. For example, it may take about 121 days to sell through a surprise agent (average days, i.e., the average number of days to close the loan + average market (75).)
- Sales “as is”: These companies buy a home, which means you don’t have to spend time or money on repairs, installments, or cleaning.
- No financing to ic: Since buyers pay in cash, you don’t have to worry about contingency or loan approval slows down the process.
- Minimum effort required: No display, open house or negotiation – just simple quotes and quick sale.
Disadvantages of selling to home buying companies
- Lower sales price: You may receive quotes below market value, which means you can walk away with less money than you sell with an agent. Most of our homebuying companies use 70% of the rules to determine their products, which means they will give you about 70% of the restoration value of the home, minus their estimated repair costs.
- example: If your surprise home is worth $426,000 and requires $30,000 in repairs, a quote might look like this: ($456,000×0.70) – $30,000 = $289,200
- In this example, one surprise from our home purchase company might offer you about $289,200 for your home.
- Limited negotiations: Most home buying companies will have discounts for charges or exploits, which leaves you with little room to negotiate higher prices.
- The potential of scams: Not all cash buyers have credibility, some are scams targeting desperate sellers who trade unfairly or hide fees.
- Less Seller Protection: Unlike traditional home sales, these transactions usually benefit the buyer and provide sellers with less contractual protection.
It is also worth noting that the most surprising real estate agents can bring you more value than cash quotes.
For example, after considering potential closing costs, agency committees and market preparation, an agent may help you with the same home as the above-mentioned home.
Your situation is important
The best choice depends on the condition of the home, repair needs and sales goals. If time is prioritized, cash buyers can fit well, but selling with real estate agents may result in higher prices.
It is important to properly review any company you may have a significant deal with for sale (such as for sale).
Homelight recommends that you consult an experienced local broker to better understand the value of your home for sale on the open market. Then, compare your cash quotes. Homelight can connect you with the best performing agents in the market.
You can also use Homelight’s House Value Estimator to perform initial course estimation in less than two minutes.