The idea of putting a home up for sale and having the entire transaction happen online may seem risky. Especially when you first hear about it. However, there are real companies out there who are serious about making a deal with you for that ‘as-is’ house. There are some situations where you have the time to go through the usual house-selling process. This could last about two months depending on market conditions.
Hiring a realtor, making repairs, staging a home, and showing it to potential buyers is not a quick process. But if you need to sell a house fast, whether for a new job, an expanding family, or because you need the cash, then you might want to consider a We Buy Houses company. Before you start an internet search for a company that buys homes in Central Florida, read this guide. Then you will understand more about the process.
How We Buy Houses companies work
One of the main characteristics of We Buy Houses companies is that they are fast. These aren’t buyers who need to secure a mortgage to move into your home. Nor will they care about inspections and a final walkthrough.
Online companies that buy houses see your home as a business transaction. Some of the most well-known ones are Redfin Now and Knock.
They may have different models such as iBuyers (instant buyers), fix and flip investors, and buy and hold investors. However, in general, these companies will buy homes at under market value. Then they use them as an investment to turn a profit. Your home isn’t a place to grow old in, it’s a business deal.
The benefits of selling a home online
This type of transaction isn’t for everyone. However, the convenience of working with a We Buy Houses company is what makes it a solid choice for people who need to sell a home as-is.
What can make selling a house take longer is the need for repairs, passing inspections and showing a home to would-be buyers. By eliminating those steps, you could sell your house in as little as a few days. There’s also no need to hire a real estate agent, another task that can add to the timeline.
The disadvantages of selling to internet buyers
While working with a We Buy Houses site can be convenient, it may not be economically feasible if you need to get the most for your home. That’s because the convenience of a quick sale comes with the downside of a reduced sale price.
Flippers, for example, might offer you 50 or even 70 percent less than a home’s market value. You won’t need to pay a commission to a realtor. However, you are unlikely to make as much selling your home as Is as you would if you prepped it to sell following the traditional route.
When you need to sell a home fast, there’s no doubt that We Buy House companies are a solution worth considering for selling a house as-is. However, you should be prepared to likely get less for your home when working with these online solutions.