“We will buy your house for cash!”
If your house is paid off or if you have about 50% or more paid off on your mortgage, you may have received a letter, a handwritten note, or advertisement with these words on them, often with the phrase, ‘buyers in the area looking at your home’.
What does it mean?
It’s a different kind of sales tactic. If you have paid off half or more of your mortgage, it’s likely that your home is older and in need of repairs or updates if you wanted to sell it. Additionally, it means that you could walk away with a fair amount of cash after a sale even if you didn’t get market value for your home.
So, potential cash buyers take that knowledge and reach out to this potential seller pool, because some of these people might be more interested in just walking away with cash than going through the hassle of cleaning, updating, and listing their home. With these cash buyers, they will give you an offer that is what your home is worth, minus a percentage fee for themselves and minus repairs.
I know of an investor like this who offered $234,000 on a home that would be worth $280,000 once it was updated and cleaned up.
This type of cash buyer might be the right fit for you. If you are more concerned about choosing a closing date that works for you and not worrying about the hassle of cleaning and showing your home and aren’t as concerned about how much money you walk away with, this type of service is a good fit.
As your potential Realtor, I’m not just here to convince you I’m the best in every scenario- I’m here to help you find the best fit for you. In some instances, I might suggest you use a different service than what I offer. I want to give you best offer that fits you.
If you want to know more about these types of services, feel free to reach out to me with any questions!