Selling a house takes time. And it costs money. The average home sale costs the sellers more than $10,000!
Sure, you’ll make some money, but what can you do when you need to get out of your house fast? Not everyone has time to wait for their home to sell through the traditional real estate agent setup.
That’s when you should start looking for companies that buy houses for cash. They’ll pay you upfront and close on the house quickly.
But how can you find a company you can trust? What should you look for?
We’ve got you covered. Here are a few tips to help you find a reputable company to work with.
1. Speak with Friends
Lots of people sell their homes for cash, especially if they need to get out of the house quickly. And that means lots of people have worked with companies in the past. So, ask around.
Speak with friends who have sold their homes recently. Ask your coworkers for recommendations. You can even ask your attorney for suggestions.
Word of mouth is key and if someone else had a good experience with a company, you probably will, too.
2. Read the Reviews
Every cash home buying company will have reviews online. And it’s worth checking them out.
See what their reputation is like on the internet. Remember, internet reviews are anonymous and people often feel more inclined to say exactly what they’re feeling. This can give you insight into how the company operates.
If the reviews are good, the company is worth working with. If they’re bad or several people report the company as a scam, steer clear.
3. Check Their Profile at the BBB
General internet reviews are a great place to start, but once you have a list of companies you’re interested in, do a bit of digging on the Better Business Bureau’s website.
There, you’ll find additional reviews from verified customers. And you’ll be able to check the history of complaints filed against the company. Ideally, look for companies with A ratings.
4. Ask for References
It’s normal to interview more than one company when trying to get the best offer on your house. And that’s the perfect time to ask for references.
Reputable companies have previous clients that are more than happy to discuss their experiences with you. But you need to ask for those references and follow up with them.
If their past clients recommend them and had no concerns during the selling process, you’ll be in good hands.
5. Make Sure a Cash Sale is What You Want
Before you start working with a company, you want to make sure that a cash home sale is what you want. Otherwise, any company is going to feel like a bad fit.
Think about what you’re looking to accomplish. Are you hoping to get the most you can out of your home sale or are you needing to sell as fast as possible?
Cash sales may not be the right fit for every seller. And that’s okay.
6. Beware Pushy Tactics
Selling a house for cash does mean you’ll likely get a lower-than-market offer for your house. Why? Because the company is paying you in cash and sparing you the expense of working with a realtor.
But if the sales team is overly pushy and tries to get you to agree to a deal without giving you time to think about it, walk away. This is a surefire sign of a disreputable company.
Good cash home buying companies want you to make the best decision for your needs. This means they’ll be understanding if you need to think about the offer or want to discuss it with your family.
No homeowner should feel pressured out of their home, no matter what the circumstances are.
7. Look for Surprise Fees
Just as reputable companies won’t use pushy sales tactics, they won’t charge you any fees you’re not fully expecting.
If a company requires an application fee before they look at your home or asks you to pay a commission on top of other processing fees, walk away. These companies are out to nickel and dime you out of the money you deserve.
Trustworthy companies will always be upfront about any fees you have to pay (if you pay any at all). They’ll always give you an offer for your property for free. And you should never feel forced to accept that offer.
And you should never have to pay for the closing costs or any repairs during a cash sale. Your home should sell as-is and the cash house buying company should cover all closing costs and filing fees.
8. Go Over the Deal
Reputable companies want you to make sure you’re doing the right thing and that you’re comfortable with the situation. Go over the offer in detail with everyone involved. You can even take the written offer to an attorney and have them inspect it.
The most important thing is that the company offers you the chance to think about the deal before taking it. And you’ll know immediately if the company is one you should avoid—they’ll refuse to give you time to think.
The Best Companies That Buy Houses for Cash Aren’t Hard to Find
There are hundreds of companies that buy houses for cash. But not all of them are trustworthy, fair, and worth your time. Use these tips to weed out the bad from the good and get rid of your unwanted property fast.
If you’re ready to sell, whether the house is in good condition or needs a bit of TLC, don’t wait. Contact us today and let our experienced New York real estate pros get you a fair cash offer for your home.