4 Myths and Misconceptions About Cash for Homes That You Need to Drop

cash for homes

Over 37 million Americans relocate every year. That translates to approximately a dozen moves for the average American throughout their life. Moving can be stressful, especially when you wish to sell a house fast. The traditional realtor route can have your property stuck in the listings for months on end.

Most homeowners now prefer to turn to cash for homes to dispose of their property within the shortest time frame. However, the aftermath of the 2008 financial crisis led to a lot of misinformation flying around about selling to home investors. Before you frown upon the cash offer from Chicago home buyers, here are four myths about selling a home for cash debunked.

1. Cash Home Buyers Only Provide Low Ball Offers

Most homeowners wrongfully believe that they will receive pennies on the dollar for their properties when selling to an investor. You do not have to lose money through a direct sale. The home investor provides an instant, fair cash offer depending on an agreed valuation of your home.

Additionally, you do not have to incur extra costs covering expensive repairs, staging fees, photography costs, and agent commissions. You can enjoy the full amount without any unnecessary deductions if you decide to sell through the cash for homes method.

2. Private Investors Are Out to Scam You

Most cash for home buyers treat the buying process as part of their business and remain ethical in all their dealings. You do not have to think that every private investor is out to con you. To quell your fears, it would be necessary to do your homework on the different cash buyers intending to purchase your property. Do they have a physical office? What’s their standing among the local community?

A little research online can give you reviews of past clients who can speak of their professionalism or lack. Seek to see proof of funds before proceeding with the purchases. You do not need to worry about getting scammed if you do your due diligence.

3. You May Take Longer to Close Your Deal

Realtors tend to argue that it takes more time to sell a home without an agent, leading to most homeowners believing the misconception. The 2019 National Association of Realtors reports showed that house sales without agents were complete within two weeks or less compared to the 64 to 95-day average when you list through a realtor. Cash for homes investors provides instant cash offers after a quick walkthrough of the property. Most will allow you to set the closing date on a day that you prefer.

4. Cash Buyers’ Only Interest Is in Ugly or Perfect Homes

The traditional realtor route demands that you conduct repairs to their homes to increase their overall appeal to potential buyers. Some homeowners carry over this notion while dealing with cash buyers, thinking they are searching for the ideal property to buy. Others are misled by the distasteful ads by a few home buying companies depicting that they wish to buy run-down properties. Truthfully, most cash for home investors are less interested in the condition of the home. You get to sell your house fast on an ‘as is’ basis.

Home sellers are quickly embracing the benefits of selling a home fast for cash. Do not let these four myths hold you back from a good deal. For more information on selling your house to an investor, contact Kendall Partners Ltd.