If you’ve never sold your home to a cash buyer before, chances are you’re skeptical about the process. Before you throw all your eggs in one basket, it’s important to do some research to ensure you’re choosing the best cash buyer for your needs.
So what qualities should you look for when researching a cash home buyer? Let’s dive in.
Does the buyer accept your home as is?
One of the biggest appeals of a cash home buyer is the minimal effort required to sell it. If a buyer is expecting you to clean up and make repairs before selling, they might as well be a real estate agent. If they’re asking you to do so, chances are they’re looking to make more money with less work, which isn’t fair to the homeowner. A quick home sale should be exactly that; quick!
Is the process simple?
Homeowners often turn to cash home buying due to the lengthy process of traditional selling. There are so many moving parts with traditional selling, and some circumstances prevent home buyers from being able to see that process through. A legitimate home buyer shouldn’t require excessive amounts of paperwork, repairs, etc for that reason. A typical fast home sale process requires a quick walkthrough of the property, a fair cash offer on the spot, and a short closing process. For reference, check out Home Buyers Express simple four step process.
Does the cash buyer have experience in real estate?
A true cash buyer will have extensive knowledge and experience in the real estate industry. Anyone can buy a house for cash, but not everyone knows the correct legal processes and steps that are required to do it successfully. Legitimate home buyers are reputable, as many of them are investors and real estate agents. If your supposed buyer doesn’t have any references or refuses to share them, you’re probably dealing with a scam. Before you begin negotiating, ask the buyer to send you a list of properties the buyer has purchased in the past. With that information, take some time to check the courthouse records to verify the information is accurate.
Is the cash buyer providing a realistic price and closing date?
Cash buyers know that homeowners are taking those routes because they’re in a difficult financial situation. Unfortunately, scammers will take advantage of this, and give unreasonably low offers. But don’t fall into this trap! Do some research to know what your home is worth. A good buyer will also work to educate you on market value and provide honest and transparent information.
Is the cash buyer pushing any hidden fees?
A standard cash home sale requires a cash payout to the homeowner, while the home buyer handles the closing costs and up front fees. If you’re being asked to pay homeowner processing, administrative, or other variable fees, you’re better off finding another buyer.
If you’re looking for a trusted cash home buyer in Maryland, Home Buyers Express can help! With over 20 years of experience in real estate and hundreds of homes renovated, bought, and sold, we are confident that we can help you with your real estate endeavors. Visit our how it works page for more information, and contact us today!