5 Questions To Ask Yourself Before Working With A Cash Home Buyer

July 4, 2019

What Is A Cash Buyer?

Most people are familiar with the home makeover shows on HGTV. The people who buy an ordinary home and turn it into something wonderfully new. These people are most commonly called “house flippers”.

Flippers and cash buyers are the exact same thing. Cash buyers purchase homes with the intention of remodeling and reselling the property. They can also buy the house and rent it out while it appreciates in value. Cash buyers are business people who help homeowners in trouble. There are plenty of cash buyers in the Houston, TX area.

Cash buyers are businesses trying to turn a profit, they buy homes below market value. Working with a cash buyer is not for everyone. In most scenarios, working with a realtor or selling the home yourself will be your best option.

Use these 5 questions to determine if working with a cash buyer is right for you.

The 5 Questions You Should Ask Yourself Before Working With A Cash Buyer

There are a couple of reasons why someone might need to sell their home in a rush. You could be going through the foreclosure process and need to sell the home before it goes on auction. You could be moving for work and need to sell the home before you move.

Whatever your reason is, when selling to a cash buyer you can negotiate the closing to the day. In Houston, approval for financing and time taken to find a buyer for the home usually takes 65 days. A cash buyer can buy a home in as little as 9 days, which can be a blessing in a time crunch.

Often banks will not approve a mortgage loan for a damaged home. To get the loan approved, the bank will request that repairs be made to the home. Cash buyers are the opposite of banks. At First Fidelity, we love damaged home. We seek out homes attacked by Mother Nature, well-loved by hoarders, or just plain past their prime. We have no need for you to make repairs, or even clean the property.

If you’ve answered “no” to the last two questions going with a cash buyer is probably not your best option. You will get a much better price by going the more traditional route and selling the home through a realtor.

Cash buyers’ goal is to turn a profit on a property by renovating or renting it. With a cash buyer, you will sell you home below the market value. Less money is the big con to working with a buyer. Don’t be afraid to ask the buyer questions about how they determined their offer price for the home. Buyers worth working with will have a system in place for determining their offer prices. Selling a home is a big decision, and as cash buyers we empathize the need to understand the process.

Many homeowners hear “Sell your home quick and easy” and immediately assume that it must be a scam. There are plenty of reputable home buyers out there who have made a career out of “flipping” homes. The best response to this is to do your research. Look for a website, reviews, social media pages, etc. to help you determine if the company is credible. First Fidelity even has a Seller’s Pamphlet that is available upon request.

Now there is one major red flag you should be aware of. Any reputable cash buyer will use a title company for the sale. A title company is a third party that insures both the home owner and buyers’ assets are protected. Money and deed should never pass through from one person to another directly. Reputable cash buyers will want to protect both your assets and theirs as much as possible.

First Fidelity is a family business that works with a wide network of home buyers across the country. Through this network we have been able to get the education and systems needed to help our customers.

As a company, we focus on putting people before profits. We put your needs first. We are here to answer any questions you have about the home selling process (even if you don’t want to sell to us). We are upfront about how we calculate our offer prices, and do anything that we can to make the process easy for you.

We understand that each person’s situation is different. We find property solutions hand picked for you based on your current predicament. Together, we can figure out what you need and discuss any and all options available to you.

Still Unsure?

You might still be apprehensive about selling to a cash buyer, even if you answered “yes” to every question. We understand. Selling your home is a big decision, and it isn’t one that should be taken lightly. 
 
Feel free to reach out to First Fidelity about any additional information you might need. Our team is here to help you make the right decision for you.

Call us at (832) 699-2333

Or email [email protected]

5 Questions To Ask Yourself Before Working With A Cash Home Buyer