The process of selling a house is often a very time consuming one, which is why many sellers are drawn to alternative ways of selling their homes. Things such as raffle sales, auctions, and selling without using a real estate agent are now becoming more mainstream. Another popular alternative is selling a property to cash house buyers in charlotte. By using these types of companies, sellers get a quick, hassle free, and guaranteed sale of their property. The business model of these companies is to provide sellers with offers that are below the current market value for their property, but with the promise that the sale can be completed as quickly as possible. Sometimes sellers can have the proceeds from the sale of their home in their bank account within just 7 days.
In the city of Charlotte, North Carolina, there are so many different real estate agents to choose from. The sheer amount of choice that there is is actually rather overwhelming and is somewhat off putting for any sellers that are looking to sell their property quickly. After all, how does a seller know which real estate agent provides the best service and which one can sell it for the highest price and quickest. However, selling your property without the help and assistance of a real estate agent can be really daunting for some sellers, which is why some of them turn to using cash house buying companies instead as they provide a much simplified solution.
However, before going down this route, sellers need to be aware that they will be offered a price for their property that is below the true market value for it. Just like a seller would do research prior to appointing a real estate agent to sell their property, it is also advisable to do the same with a cash house buying company, as it is important to ensure that they are legitimate and trustworthy.
What is a cash house buying company?
These companies are pretty simple in what they do – they buy properties outright for cash. By having large sums of money available to them, they can make instantaneous purchases of any residential property, no matter what its value is.
In order to check the legitimacy of a cash house buying company, sellers can request to see proof of funds. This should not be an issue to prove. Because they have the funds available to make an immediate purchase, it means that the entire process can be completed quickly.
The vast majority of cash house buying companies are actually property investment companies. They operate by purchasing houses at prices that are below their true market rate and then make renovations and build extensions on them in order to increase their value. They either then sell the property or rent it out.
Due to the increasing popularity of selling a property this way, there are now a wide number of cash house buying companies out there.
How does a cash house buying company work?
The vast majority of cash house buying companies operate in the same way. First off they will perform an evaluation of a property in order to determine its value. During the evaluation process, they will be looking at every detail of the house, including things like its overall condition and where exactly within a neighbourhood it is located. To help with determining the value of the house, they will also look at how much other similar properties within the local area recently sold for and what other houses are currently available on the market. In some instances, they may even consider the properties potential for development or expansion. Where there is space to add an extension or scope to perform some renovations then this will make the house more attractive to a cash house buying company as there is clearly a profit to be made from it.
Whilst some cash house buying companies will perform a property evaluation remotely via the use of certain pieces of mapping software and information that is publicly available, other ones will want to come out and do this in person. The cash house buying companies that perform real life, in person, property valuations tend to be those ones that plan on renting the property out to a tenant once renovated.
Those cash house buying companies that are legitimate will never require a seller to pay some sort of fee in order to perform a property valuation. Similarly, they will not attempt to get you to agree to an option agreement. This is something that stops a seller from selling their property via any other means within a certain timescale.
After the property valuation has been completed, a cash house buying company will then send an offer to the seller. This offer will be anywhere between 75 percent and 80 percent of the true market value of the property. Where this offer is accepted by a seller, then specific arrangements are made in order to complete the sale of the purchase. The entire process takes anywhere between 7 and 28 days, so is an ideal option for those sellers that are looking for a quick sale of their property.
Why sell to a cash house buying company?
There are a number of reasons why it can be beneficial to sell a property to a house buying company. They provide a quick and hassle free service that removes the most stressful parts of selling a house. It also negates the need to perform multiple viewings, with different sets of potential buyers or having to deal with legal professionals. In the best case scenario, you will have your property sold in the space of just one week. This is a particularly attractive thing for those sellers who are in a difficult financial situation and require some capital as soon as possible. Selling to a cash house buying company is also attractive to owners of hard to sell properties.