When you decide to sell your home, there are many options that you can use to successfully complete the transaction. One of those options is selling to a cash home buyer. While this is a great option, there are quite a few myths you may hear that need to be debunked.
It’s a Scam
The most common thing you may hear when you talk to people about selling your home to a cash buyer is that you are getting scammed. While there are people out there who will try to take advantage of you, selling your home to a cash buyer is a legitimate thing. These companies are able to leverage their assets for cash, which is how they are able to pay for your home. Legitimate companies won’t ask you to pay for anything or lock you into anything until you have accepted the offer they make.
They Don’t Want Your Home
You may hear that home-buying companies only want specific homes and that your home isn’t one they will be interested in unless you meet certain specifications. While these companies are interested in homes that will sell quickly, they are willing to buy homes regardless of the condition they are in and what money you currently owe on the property. A lot of people actually work with cash home-buying companies to sell properties that need a lot of work, to avoid bankruptcy, or sell a home in probate. Home-buying companies often focus on a specific area, so the point is to find a company that works in your area.
You Won’t Get Good Money
When you sell your home traditionally, you are able to negotiate with the buyer to get the best price for you and the buyer. When you sell to a cash home buyer, there is no negotiating that happens. They will offer you a price and you can take it or leave it. This has led to the myth that you aren’t getting good money for your home, but this isn’t true. The offer they make may be a little below market value, but this is more than you are likely to get if your property has issues. And rather than lowballing you, the company simply deducts the cost of repairs or other issues from a fair market value to make you the offer.
Now that you know the truth about these myths, you can make an informed decision about what is best for you and your home. Make sure that you are considering all of your options carefully. A cash home sale makes a lot of sense and can come with multiple benefits.
Want to learn more about the cash home-buying process? Click here to learn about how we buy homes!