Cash! Yes, the idea of selling your house fast, easy, and for cash sounds awesome – maybe even too good to be true. So, is it? You may be having some doubts or hesitations about how this works.
Maybe these “We Buy Houses Fast for Cash” companies aren’t credible? These concerns are completely normal and understandable. Know that you are not alone in thinking this.
If you are thinking about selling your house for fast cash in Atlanta, then keep reading to learn about some tips to keep you safe and make sure you get fair treatment.
Do Your Credibility Research
You’ve seen all the signs posted on telephone poles, and you may have even received some phone calls and text messages from home buyers wanting to buy your house fast for cash.
Do all of these people have enough cash to buy your house (quick answer: no), and how do you know if they will come through?
Here are few things you can do to check credibility:
- Search online – Look to see if there are reviews or testimonials. If there are none, then this isn’t necessarily a bad thing, but definitely something you can check quickly. Check the Better Business Bureau (BBB) to see if anyone has had a negative experience.
- Check for a website– Just the fact that the company has a website and a presence online is a reassuring step that the company is credible & professional. Read through the information on the site and get a sense of whether they seem like they know what they are doing.
- Proof of Funds – If they say they are going to buy your house for cash, ask them for proof of funds. And then verify this with the bank or lender that provides the proof of funds letter.
- Check your gut – If anything feels shady, then it probably is. Anyone wanting to buy your house for cash should be completely transparent about the process and be able to answer any and all of your questions.
Get a Fair Offer
If these “cash” buyers don’t have any cash, how does this work? Some of the cash buyers that call or text you are hoping that you are in a desperate enough situation to sell your house for a significantly lower price than what it’s worth. They can then flip the contract or “wholesale” it to an actual house buyer who wants to rehab or rent out the house.
If you are looking to get rid of your house quickly, and are grateful to get any money for it, then this is probably what you are looking for. But typically the cash buyers can only make you one offer – a deeply discounted cash offer.
Sell to a Professional
A professional will take the time to listen to your situation and give you multiple options to help you, not just offer you a single cash option.
Another important point to keep in mind here is that any time you sell to an investor, you should be able to avoid the typical costs of selling the normal way through a realtor. You shouldn’t have to pay any commissions, fees, or closing costs. Professional buyers will take care of this for you.
If your home would do better selling with a realtor, then we will make that recommendation and provide you with a great real estate agent if you need one! We care about helping homeowners, not lining our pockets by taking advantage of people.
Timeline
You also want to make sure that the buyer you decide to work with is transparent about the timeline, and they should keep you updated often on how things are moving along. If there are any issues, then they should be upfront and straightforward about the next steps moving forward.
Experienced and professional buyers will be able to meet deadlines and the process will go smoothly. You will be able to depend on them, and rest assured that the process will move forward as planned.
You can also get a sense of how professional the cash buyer is by how well they communicate. If they are not responding to your calls, texts, or emails, then you have a right to be concerned.
Although usually very busy, anyone working on a large decision like selling your house should be available when you need them.
Again, trust your gut on this. If it doesn’t feel right, then don’t move forward.
When You Need to Sell a House “As-Is”
Homes that need a lot of work and unable to sell with a realtor are one of the top reasons that we see people seeking a cash buyer. And this is a great reason to do so. The right buyer will recognize the potential for the house, fix it up, and sell it to an eager family. Win-win-win!
You should expect to sell your house for a discount when it needs a lot of work, but you still don’t deserve to be taken advantage of. What this means is that the buyer will show you how they determine the value of their home, how much they expect the repairs to cost, and what their plans are for selling or repairing it.
It should put you at ease when the buyer is clear about why they are offering you a particular price, and not trying to hide things. Ask them how they determined their offer for your home, and don’t be afraid to ask many, many questions.
Know Your Numbers
In order to negotiate with cash buyers, and to make sure you are getting a fair offer, try to get a ballpark understanding of how much your house is worth. You can do this quickly and easily using two different methods.
- Look up your address on Zillow, Redfin, Realtor.com, and Eppraisal websites. All of these websites will have an estimated value for your home. Punch all four of these estimates into a calculator or spreadsheet and take the average. This will get you close as long as the home does not need a ton of repairs.
- Watch my video on how we use Zillow to estimate the after repair value (ARV) of your home. This can be a really accurate estimate if you have a lot of homes that have sold in your area lately. This estimate does not factor in repairs as these will be different for each home.
Give Us a Call!
We would love to help you sell your house for cash in Atlanta. Even if the home isn’t a good fit for you or for us, we will still help you find a buyer. We make it easy! Send us a message or call us at (404) 500-8094 today!