House sales without a real estate agent are becoming increasingly popular in the United States. According to the 2019 National Association of Realtors report, approximately 11% of all transactions involved for sale by owner (FSBO) properties. This comes from a backdrop of homeowners getting increasingly frustrated with real estate agents as they try to sell the houses fast.
Cash home buyers provide an attractive alternative, providing an instant offer with a faster closing process. Selling to an investor allows you to enjoy the full amount and dispose of the property as-is, with less risk of the deal falling through.
It’s enticing to sell your house fast for cash, but you’ll want to remain vigilant throughout the home selling process. Here are five considerations to keep in mind that will ensure you pick the right home buying experts.
1. Experience
The home selling process is complex, with legal paperwork and formalities require before the deed can switch hands. You should make sure you’re selling to an investor with years of industry experience. Newcomers who are dipping their toes into the real estate waters may not understand the documentation and local regulations involved in house sales. Inquire if the company has any experience in your area and the number of houses that they have purchased. While being inexperienced doesn’t mean they’re out to scam sellers, you’ll still want to ensure you’re selling to an investor with adequate experience.
2. Accreditations and Certifications
You’ll want to look into the credibility of the home investor with an interest in purchasing your property. Accreditation by respectable organizations within the industry is often a good sign. The company is more likely to carry out ethical deals as they have to adhere to a set code of rules on professional conduct. This doesn’t mean that cash buyers without accreditations or certifications aren’t to be trusted. However, these kinds of endorsements can provide some peace of mind.
3. Proof of Funds
The sad truth is that there are some cash buyers who may not have the best intentions. To place your mind at ease, you can request that the buyer provides a “proof of funds” certificate from their financier. This letter guarantees that cash home buyer has enough money in their account to fund the transaction. You do not have to worry about getting scammed when you sell your house for cash.
4. Proper Communication Channels
Your home sale is one of the largest personal financial transactions that you will undertake in your life. You need to ensure that everything goes smoothly. As such, you should find a home buyer with proper communication channels that allow for regular updates about the transaction. Selling to an investor based in your area can ease your communication. If possible, arrange for a visit to their physical offices to get a feel of how they conduct their business.
5. Reputation
You’ll want to reflect on the trustworthiness and reputation of the cash home investor in Chicago. You ought to conduct a quick online background check on your potential buyers. Read as many reviews about the company as you can and learn more about their average review rating. Check if there any complaints lodged against them on online review sites. This feedback can help you determine if they are the right fit for you.
Selling to an investor provides an excellent opportunity for homeowners to receive instant cash payments for their property. Kendall Partners Ltd provides a fair cash offer with a closing date that you prefer. For more information on selling to our reputable home investors, please contact us today.