So you are thinking of selling your property to a cash for houses investor. You may have so many emotions running through your head, as your home may be your greatest asset. Maybe you have never sold a property before either, or perhaps you just want to make sure you can trust who you are working with. Below are 5 ways to know FOR SURE you are working with a legit cash house buyer.
1. Your Buyer Makes An All Cash Unconditional Offer (no financing clause)
According to Wikipedia.org, a cash offer is “An offer made to purchase real estate submitted by purchasers who do not require any financing since they do not require a mortgage. The purchase is referred to as an “all-cash buyer.” source: https://en.wikipedia.org/wiki/Cash_offer
If you are working with a legitimate cash house buyer, they have the experience to know roughly what they can offer for your house after just one solid conversation with you. They will have financing lined up, their own contractors, and an idea in mind what they will do with your property once they have purchased it. This means they will be confident enough to make a firm offer and move forward with purchasing your property.
- Your Buyer Will Purchase The House Without An Inspection Clause (no inspection clause)
A truly legitimate cash house buyer will ALWAYS buy your property without needing the option to back out. Cash house buyers understand they are getting a bargain on the house, but the trade off is that the house isn’t going to be perfect (ie. It will need repairs, or their will be other issues that need to be resolved). Effectively, they are buying AS-IS WHERE IS. Having an inspection clause is a sign that your buyer is not confident in their offer.
- No Concessions… Your Buyer Will Purchase The House In Truly AS-IS Condition
An experienced cash house buyer will be able to buy your house no matter what the situation is, and will not ask for concessions. If the house is an unwanted inheritance, full of junk, in need of extensive repairs, has water damage or mould, or even has bad tenants that won’t move out… they can buy it. BEWARE of buyers who offer to pay more for your house, but ask you for a laundry list of concessions before closing.
Some of these concessions may include offering to pay more in exchange for: you completing property repairs first at your own expense, you completing junk removal on your house, you dealing with and evicting your bad tenants. Often times you may have to pay more, or deal with more headache than what the other investor had offered.
- Your Buyer Can Close On YOUR Date Of Choice. Not Theirs.
A real cash house buyer works on your schedule, not on theirs. As an investor, they will not be buying your property to live in it (unlike in the traditional real estate market). This means they should be more flexible than a typical house buyer. A cash buyer will close quickly if you need them to, or close in several months if it benefits you. If your buyer is pushing you for a certain closing date, they are not keeping your interests in mind. Again, a cash house buyer is getting a bargain on the property, and they can accommodate you in exchange.
- They Put Their Money Where Their Mouth Is – They Secure The Deal With A Deposit.
How do you know your buyer is putting some skin in the game? When an agreement to purchase a house is signed, a deposit must be sent seller or buyer’s lawyer as earnest money. This deposit is NOT refundable in the case the deals falls through due to the buyer, and they are unable to close. If the deal falls through because the buyer is unable to close, the deposit will go to you, the seller of the house. If your buyer is giving you a $5 deposit to secure a deal on a $200,000 house, you must strongly consider if your buyer is actually legitimate.
Are You Looking To Sell Your House Privately?
Then we can certainly help you! We are a cash house buyer that buys properties all across Ontario, then renovates and resells them. We are looking for fixer upper properties to buy, and we are willing to give you a fast cash offer, with no contingencies. We look forward to helping everyone that contacts to sell their house fast.
Common Questions And Answers For Selling Your House Privately
What Is A Cash Offer?
A cash offer is an offer to purchase your property without any financing conditions. Typically, if you were to list your property and sell it the traditional way, you will have to wait for your buyer to firm up the deal while they perform inspections, and make sure they are able to get a bank loan. This adds stress to the process and can cause complications in the sale of your house. At 416 Home Buyer, we make offers without any of these contingencies.
Are You Just Going To Give Me A Low Ball Offer?
To be honest, we will need a discount in order to purchase any property. When we make an offer we factor in financing, renovation, and transaction costs, as well as leaving a profit margin for ourselves and our investors. In this market, it is simply impossible for us to buy at full market value and have a profitable business… However we can promise you we will give a fair cash offer, with little to no conditions, as well as close flexibly based on whatever your needs are.
How Long Does It Take?
We can typically get you an offer on your property within 1-2 business days.
Can I Sell My House Privately To A Real Estate Investor?
Yes, absolutely! And guess what… when you sell your house fast in Ontario to a private cash house buyer, you will be saving on all those realtor commissions and fees. That’s right, you won’t have to pay any commissions!
Do I Have To Accept Your Offer?
No, there are absolutely no obligations. We want to create relationships and deals with our clients that are truly win-win. If our offer doesn’t work for you, it is okay with us, and we promise not to take it personally. We realize this is an alternative way of selling your house, and it isn’t for everyone. However, if this sounds like something you would like to do, we would love to hear from you.
Do You Need A Legitimate Cash House Buyer?
If you are thinking, “I need someone to buy my house fast” then look no further. My name is Michael Lee, and I’m a local real estate investor buying houses as is for cash. If you are in a situation where you need a house buyer to come to the table with a SERIOUS OFFER, give our team a call at 1-800-610-6171, or click the button below to submit your contact information. One of our house buying specialists will call you within one business day to begin learning about your property and get an offer ready. It’s that easy – So what are you waiting for? Contact us today!