Will you be listing my house on the MLS or actually buying it?

Great question. We’re not agents, and we don’t list houses. We are professional home buyers: We buy houses Calgary that meet our purchasing criteria. From there we may repair the house and resell it to another homeowner or keep it as a rental ourselves.

Do you pay fair prices for properties?

Many of the houses we purchase are below market value (we do this so we can resell it at a profit to another homeowner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash, we close very quickly (no waiting for financing), and no time or effort or expense is required on your part of fix up the property or pay agent fees. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair win-win price. (Besides, our no-obligation pricing commitment means that you do not have to move forward with the offer we give… but it’s good to know what we’re offering!)

How do you determine the price to offer on my house?

Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. As you know, house values have taken a huge hit in the last 5 years and most areas still haven’t seen prices come back up. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.

Are there any fees or commissions to work with you?

This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too!). No hassle. No fees. We make our money after we pay for repairs on the house (if any) and sell it for a profit (we’re taking the risks here on whether we can sell it for a profit or not, once we buy the house from you… the responsibility is ours and you walk away without the burden of the property and its payments… and often with cash in your hand).

How are you different from a real estate agent?

Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 6-12 months) and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We’re not agents, we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you, and we pay with all cash… we can make a decision to buy your house within a couple of days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer (which is the hard part in this market).

Is there any obligation when I submit my info?

There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us… and we won’t hassle you, won’t harass you… it’s 100% your decision and we’ll let you decide what’s right for you.

Sell House For Cash Pros And Cons

Selling a home is a major life event that requires careful consideration and research. Selling a home for cash is a viable option for many homeowners, but it’s important to understand both the benefits and drawbacks of this decision. The benefits of selling a home for cash include faster closing times, the elimination of repair costs, and the ability to avoid negotiations and paperwork. On the other hand, selling a home for cash may not net the highest profit and may include hidden fees.

It’s important to weigh the pros and cons before making a decision. It’s always a good idea to do your research and work with a reputable cash buyer to ensure a smooth and stress-free transaction. By understanding both sides of the equation, you can make an informed decision about whether selling your home for cash is the right choice for you. Lets try to understand sell house for cash pros and cons

Why Prefer Cash Buyers for Selling a House?

Some homeowners may specify that they want “cash buyers only” for their property. This means that they will only consider offers and showings from individuals who have the financial means to purchase the house in full. The real estate agent may request proof of funds before scheduling a viewing or allowing an offer to be submitted.

There can be several reasons for a homeowner to choose cash buyers over traditional home buyers. They may need a fast sale, or they may have had a negative experience with property chains in the past. Cash sales are typically quicker to complete compared to those that involve a buyer who needs to obtain a mortgage or other funding, as there can be delays if a buyer encounters difficulty securing a loan

Sell House For Cash Pros And Cons

Advantages

No Preparation Required

Selling your home through a real estate agent typically requires a lot of work in terms of deep cleaning, decluttering, and presenting it in the best light possible. With a cash buyer, however, you don’t have to worry about any of that. Cash buyers don’t care about the condition of your house and are aware that the furnishings will be gone when they take possession.

Quick Deal

If time is of the essence, selling your home for cash may be the way to go. The traditional home-selling process, through a real estate agent, can take months to close. However, with a cash-for-homes company, the closing process can take as little as seven days. This is because the company doesn’t have to work with a mortgage lender, making the process faster and more efficient.

Acceptance of Odd Layouts

Some homes may have features that make them more challenging to sell, such as odd additions, strange wall colors, or shag carpeting. But cash-for-homes companies are less particular and are often willing to purchase homes with these types of features.

No Strangers Walking Through

An open house during the traditional home-selling process can mean allowing groups of strangers to tour your house. This can be uncomfortable for some homeowners. With a cash-for-homes company, you won’t have to worry about strangers walking through your house.

Quickly Turns an Inheritance into Cash

For those who have inherited a property and are looking for a quick infusion of cash, selling the house for cash to a company can be one of the quickest ways to sell the property and receive payment.

No real estate commissions

When selling a house through a real estate agent, the homeowner must pay a commission, typically a percentage of the sale price, to the agent. Selling a house for cash eliminates the need for an agent and therefore eliminates the commission fees that are associated with the sale.

Contingency-free

Cash sales are not subject to the same contingencies as traditional home sales. For example, a traditional home sale may be contingent upon the buyer’s ability to secure financing, and the sale may fall through if the buyer is unable to obtain the necessary funds. With a cash sale, the homeowner can be confident that the sale will close as long as the buyer has the funds to purchase the property.

Flexibility

Cash buyers are typically more flexible when it comes to closing dates, making it easier for the homeowner to coordinate the sale with their other plans and obligations.

Disadvantages

Reduce Sales Price

Cash-for-home companies are businesses, and their main aim is to purchase homes at a lower price than the market value, so they can flip them for a profit. As a result, the sales price offered for your home may be lower than what you could get from a traditional sale.

Hidden Fees

Though it may seem like selling a house for cash could save you money on fees, it often ends up costing you more. Companies like Zillow and Redfin charge fees that can be up to 9% of the sales price. In addition, some cash-for-home companies may charge hidden fees that are not disclosed upfront.

Cost of Repairs

Cash-for-home companies may require you to pay for any necessary repairs before the sale is finalized. These repairs could range from fixing fences, holes in interior doors, or any other issue that needs to be addressed before the sale can take place. These repairs can significantly eat into your profits, so it’s important to be aware of this before accepting an offer from a cash-for-home company.

While selling a home traditionally can incur fees and closing costs, selling to a cash-for-homes company may also come with additional fees. For example, services like Zillow and Redfin, which offer cash-for-homes services, can charge fees of up to 9% and between 6% and 12% of the sales price, respectively. Additionally, cash-for-homes companies may ask you to cover the cost of any necessary repairs, which can be deducted from your proceeds. This lack of transparency makes it difficult to determine exactly how much money you will receive from the sale of your home.

Unclear Business Practices

When you call a cash-for-homes company, you may speak to a representative who seems friendly and knowledgeable. They may visit your home and provide you with a quote and a closing date. However, they may not disclose that their business is to find homes to purchase at a discount, only to hand over the deal to another company. This lack of transparency can lead to the actual buyer having no intention of following through on the original promises made by the “finder.”

Limited Competition

While a cash-for-homes company may have to compete with a few others to purchase your property, traditional home buyers have the advantage of competition with many other potential buyers. In a market with more buyers than cash-for-homes companies, you are more likely to receive a better offer from a traditional home buyer.

Inferior Offers

Due to the nature of the business, cash-for-homes companies aim to purchase properties at a discount. As a result, their offers will often be lower than what you could receive from a traditional home buyer. The lower offer will result in less profit for the company, but also less money for you as the seller.

Final Words

Selling your house for cash can be a good option if you are looking for a fast and hassle-free process. It eliminates the need for cleaning, decluttering, and preparing the house for sale, and can lead to a quick closing. Additionally, cash home buyers are less particular about the condition of the house, making it easier to sell an odd-layouted or inherited property.

However, it’s important to consider that selling your house for cash can lead to a lower selling price as the company is looking to purchase at a discount and turn a profit. Additionally, the company may charge fees and deduct the cost of repairs from the sale price, eating into your proceeds.

When considering selling your house for cash, it’s essential to do your research and carefully weigh the pros and cons before making a decision.

FAQs

What is a cash home buying company?

A cash home buying company is a business that buys homes for cash, usually at a discounted price, with the intention of flipping the property, using it as a rental property, or tearing it down to use the land for another purpose.

How fast can I sell my house for cash?

Selling your house for cash can be a very fast process, with some companies able to close in as little as 7 days.

What are the benefits of selling my house for cash?

Sell your house for cash to avoid preparation, get a fast closing, accept odd layouts, and turn an inheritance into cash quickly.

What are the drawbacks of selling my house for cash?

Cash sales have a few drawbacks, including a lower selling price, fees eating into the proceeds, having to pay for repairs, and a lack of transparency and competition.

Can I get more money by selling my house the traditional way?

In most cases, selling your house the traditional way, through a real estate agent, can result in a higher selling price as there is more competition among buyers. However, selling your house for cash may be a good option if time is of the essence or if you need a quick infusion of cash.

Is selling your house for cash a good idea?

Whether selling your house for cash is a good idea depends on your individual circumstances. Selling for cash can offer a fast and hassle-free sale, but it also often involves a lower sales price as cash buyers look to purchase at a discount for their own profit. It’s important to weigh the benefits and drawbacks and consider all options before making a decision.