A few years back, the only way to sell a home was to list a home on the MLS. The homeowners either resorted to the real estate agent’s services or through Flat fee MLS. It took some time for a decent offer to come up. But today, when technology is touching its zenith, nearly everything seems possible. Now, buying and selling a home can be a matter of 48 hours, and that too, more transparently and fairly!
Here in this article, we will learn different ways to sell your home for cash, companies that buy houses for cash, and related details.
How to sell your home for cash?
A growing number of companies are coming forward that are revolutionizing the traditional way of selling a home. There is hardly a need for open houses and showings; instead, the home seller can now aim to sell quickly for cash.
Here are some common types of Cash Home Buyers.
1. iBuyers
Quite a popular concept, ibuyers buy homes by making instant cash offerings as per your convenient dates. They usually flip the house after purchase. They use high-tech processes to collect data, crack an algorithm, etc. The sellers get fast cash and complete the sale within a few hours conveniently.
2. “We Buy Houses for Cash”
These cash home buyers are quite traditional, unlike iBuyer companies. They prefer buying old and poor-condition houses. The houses facing foreclosures, archaic and inherited, homes that need major repair, etc., interest them. They offer cash which is usually 50% of the fair market value of the homes. They conduct several repairs and then re-sell the property at a higher price.
3. Retail Cash Buyers
The buyers want to buy a property as their primary home or as a rental home. These buyers are usually the people who have sold their property and do not have a cash crunch. They can pay the entire amount easily and buy a home in cash. Sometimes, buyers apply to seek cash from financing companies. They spend the Fair Market Value (FMV) of the property.
4. National Investors
These investors keep the property as a rental house. It creates a steady income for them, and they recover the cash payment. For example, Sundae has a network of investors who keep bidding for the properties and offer 50% to 70% fair market value of the home as cash.
Best Companies that buy houses for cash in 2022
The cash home buying companies operate legally in America. Here is the list of the best companies that buy houses for cash in 2022.
1. Houzeo.com
Houzeo is one of the most popular and competitive full-service companies. They help cash buyers by ensuring the lowest real estate agent interaction. If you want a seamless experience and exposure for your property, Houzeo will certainly help you reach your potential cash buyer. When you list with Houzeo.com, your MLS listing reaches several real estate websites such as Zillow, Realtor.com, Redfin, etc. It lends you an opportunity to get the best price deal.
Houzeo offers flexibility and reasonable moving-out and closing dates. Houzeo has many cash home buyers such as Opendoor, Offerpad, etc. It offers competitive full cash deals. Positive Houzeo reviews for getting maximum cash with zero hidden fees, full automation, timely customer support, etc., are quite impressive.
2. Redfin
Redfin is a full-service real estate brokerage firm. It offers the home sellers to sell their homes by making a listing at a discounted fee. The owners can sell directly to Redfin for cash. Currently, Redfin has started to deliver the offer within a day. When the discussion with the home sales advisor is done, the seller has around five days to accept the offer. They can also choose a different option for selling. After the free home inspection is done, the final offer is presented which includes repair costs. RedfinNow charges a convenience fee from 5% to 13%. The sellers have the flexibility to pick the move-out date at their convenience.
3. MarketPro
MarketPro was started in 2012, and since then, it has been providing the best solutions to sellers in Washington, D.C., Baltimore, and Northern Virginia. The company believes in having an edge compared to other house-buying companies as they provide a fair and personalized experience to their users. MarketPro buys homes in the condition they are. They are quick to send offers, some are sent right on the same day. They also ensure a flexible closing date.
MarketPro Homebuyers are available in more than 30 cities in Northern Virginia, Maryland, Pennsylvania, and Washington, D.C. They do not charge any closing costs. Most of the MarketPro Homebuyers have given them an A+ BBB rating with an average of 4.6-star rating. Their seamless process and a little time to close leave their clients amazed.
4. Opendoor
One of the top companies that buy houses for cash is Opendoor which was started in 2014. This firm is one of the nation’s pioneering iBuying platforms. It works by buying homes directly from sellers. The company’s online platform is used to get a no-obligation offer in a few minutes. As per the company’s website, Opendoor buys homes in the range of $100,000- $600,000. Sometimes it even goes up to $1.4 million.
Based in Tempe, Arizona, Opendoor buys homes of different conditions, but the company is unsure about buying houses that include unpermitted work and dated materials. Opendoor operates in more than 45 metropolitan areas nationwide. The firm charges a 5% service fee and usually a closing cost of 1%. Opendoor usually pays as per the market value for homes.
5. Sundae
In a marketplace that was launched in 2018, here the investors can bid for the rundown homes. If you register your property on Sundae, you will get a cash offer but not give money in exchange for your home, but broadcasting the same in their cash buyer network. It is also said that in this platform, the cash offers are lesser than the ones available in the open market. Most of the homes in this marketplace are distressed homes or the ones that need expensive repairs and upgrades.
Sundae is located in California. It operates in more than 22 cities and has a team of more than 1500 investors. This platform collects bids from buyers, and only when the home seller finds interest in the offer, does Sundae lead the communication and makes the transaction complete. Most likely, it closes the deal within ten days. It has great Houzeo Reviews and is considered a unique marketplace with pre-vetted investors bidding on your property.
Selling your house can sometimes take months and even years. But if you are in a hurry to move to your next location or need cash as early as possible, then getting in touch with the company that can buy your home for cash seems to be the wise decision. These companies buy houses by making fast offers and quick deal closing. Though most companies buy houses in the condition they are in, so you don’t have to worry about making home repairs.
The guide above will help you choose a company that can buy your house for cash!
