You may have received texts, phone calls or marketing in the mail from several home buying individuals or companies. As a seller, you should always consider all of the options available based on your financial needs, priorities, and requirements before you sell your house.
Who are these individuals and companies?
These companies purchase your home directly. The primary benefit for you (the seller), is that these companies can offer a quicker, streamlined process than other methods. The following explains these different individuals and companies as well as the home-buying model they utilize (traditional process with a real estate agent not included):
Buy-and-Hold Companies – just like real estate investors, buy-and-hold companies purchase homes that they intend to make a profit on by renting them out to tenants. Just like home flippers, they purchase properties that will give them a good return on their investment. Unfortunately, some of these companies are small, inexperienced and may not have the resources to honor a closing price or date.
House flippers – in most cases, these are individuals who purchase properties to remodel and/or renovate to increase their value and then turn a profit when they re-sell it. However, they’re looking to make a large profit themselves. You may not get the most competitive cash offer from a company looking to flip the property.
iBuyers – these businesses employ their housing market data and current technology to make sight-unseen offers on homes when a seller initially contacts them. They are usually fee-based and make offers based on the actual value of the home rather than. They will charge you a 6% to 7% fee for handling the purchase and may ask for concessions at closing.
Trade-in Companies – the home trade-in concept varies based on who the company you’re dealing with. Some offer to purchase a new home for the homeowner and use that home as collateral. In some cases, the homeowner may be allowed to rent the home after the sale of the older home.
Homeinc – with all of these different types of home-buying individuals and companies, choosing the right option can be a challenging task. With our extensive experience in the home buying business, Homeinc can offer you a competitive cash offer and honor the agreed upon price.
Our company representatives are available to help you with your custom requirements. Call Homeinc today at (888) 850-2636.