How Do “We Buy Houses” Work

Maybe you’ve seen the yellow signs posted on telephone poles around town.

Perhaps a billboard with a bearded caveman wanting to buy your house has caught your eye.

Maybe, you’ve even gotten postcards or letters wanting to buy your property.

What’s the scoop on the people wanting to buy your house?

Most people immediately think of calling a realtor or sticking a for sale by owner sign in their front yard when they want to sell.  It’s the normal thing to do and the process most homeowners take.

However investors with cash are always looking for opportunities for more property, and this could be an opportunity to you.  That is what “we buy houses” is selling.  It is an investor or group of investors looking for properties to purchase.

What is the benefit of selling this way?

It’s easy.  Because they want to buy, they won’t  list your house while you wait 60-90 days to show the property multiple times wanting for a buyer to arrive.  They won’t require you to clean it up or make repairs.  You won’t enter into a back and forth negotiation with someone chipping away at you with concessions.  At most, they will set aside one day for their partners and contractors to inspect the house.

It’s fast.  Investors have cash or access to cash, so appraisals aren’t needed for banks which slow down the closing process.  Many investors can close as fast as 7 days.  Everything is already in place to purchase.

Who can benefit from selling to an investor?

Inherited property.  Perhaps you’ve inherited property that is too much to deal with.  Getting it show ready would take too much time.

Tired of tenants.  Your best tenant left and you don’t want to search for a new one.  Plus there are repairs to be made to the property.

Out of state owner.  You’ve moved and can’t manage a property from long distance.  It has become more of a burden than an asset.

Overwhelming finances.  There is not enough equity to sell without a loss, but the payments are becoming a burden.

Need to move quick.  You have equity but need to get out fast.  Whether it’s a job situation or moving into a retirement home, your property needs to be gone.

All these reasons above are legitimate and normal reasons selling to an investor is an option to consider.

Investors can be creative with you.  Even if the price is right, they can craft terms that make it advantageous for.  Some will even take over your payments and let you move out immediately.

If you are interested, I am one of these investors.  We buy in the Greater Louisville area and all over Southern Indiana.  You can find us at www.ibuylouisvillehouses.com.  Check out more details about our company.  We also have several free resources that can help you sell your house, whether that is through us or more traditional means.

 

 

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