Are you looking to sell your house for whatever reason, and are wondering if you should sell it to We Buy Houses or one of those other cash home buying companies? You may have even seen a sign on the side of the road that says “we buy houses cash” or one of those “we buy ugly houses” big banner signs. That’s the question we’re going to be talking about today.
Who Are They?
Who are these people who have enough money to buy a house with cash and have paid to have this advertising up and put them all around your city? Well, typically these people are real estate investors and so they are people who are looking to either fix and flip your property or buy a property and then rent it out to tenants. When it comes to real estate investors, it’s typically a broken up into three categories: buy and hold investors, fix and flippers, and real estate wholesalers. What’s the difference between them? A buy and hold investor is your typical landlord who wants to buy the property from you, maybe fix it up a little bit and then rent it out to tenants for some monthly cash flowing income. A fix and flipper wants to buy your property from you all cash to fix it up, flip it and put it back on the market and list it for full retail value. What a wholesaler does is they work very closely with a fix and flippers and the buy and holders, and what they do is they go out and they find people who are looking to sell their house, like you potentially, and then they will offer to buy your house and get it under contract and then they’ll essentially sell the contract to a fix and flipper who wants to get the house. So you may be dealing with one of those people as well if you’re looking to sell to we buy houses. Another person who may have we buy houses signs out is what’s called an ibuyer, which is fairly new in the real estate market now, and that’s going to be big name tech companies like Zillow or Redfin or Opendoors.
So Should I Sell to Them?
Now that you know who these people are you probably wondering, “so should I sell to these people who buy houses all cash?” And the answer to that question is it depends. So it really depends on the situation and what you’re looking for out of your home selling situation.
If you need to sell your house fast and you’re looking to get cash, or maybe you don’t have a lot of equity in the house or enough equity to list with a realtor, or maybe you inherited a property and you want it gone or you just want to get rid of the property without any hassle without having to worry about fixing it up yourself or cleaning it out, then going with one of these cash buying solutions is probably a good choice for you. It’s going to require the least amount of work on your part, you can close quickly, usually within less than a week, you can get cash in your hand ASAP, and it just makes things really easy with no hassle and you don’t have to worry about paying any kind of fees for commissions to get it listed with an agent.
Now if you’re looking for top dollar for you house and don’t need to get the sale super fast, and you’re willing to wait a little bit longer to get your house cleaned up, repaired, and listed on the market with an agent and then wait for the agent to sell it, which may take up a couple of months depending upon the market and time of year, then that could be a good option for you. So typically when you list with an agent, you do have the potential to get more cash in your pocket depending upon how much equity you have in the house already.
To sum up quickly: If you’re looking for fast money or are tired of dealing with a burdensome property and don’t want to deal with the hassle that comes with selling a house using traditional methods, you should seriously consider looking into a cash sale option. If you’re more concerned with getting top market value, can wait it out, and are willing to put in more work on your end, you should think more about listing with an agent.
At Stonebridge properties, we actually offer both options. So we are a cash home buyer in New Hampshire and Massachusetts, but we also work very closely with real estate agents who can list your house and sell it on the MLS for you. So if you don’t know which option you want to go with, you can reach out to us, give us a call or submit your info in the form below, and we can walk you through the process on how we think you can get the most cash in your pocket at the end of the day and how we can best help you.