We Buy Houses for Cash What is the Deal with these Companies?
We Buy Houses for Cash | Real estate | Photo from Freepik
If you are trying to sell your house fast, you can always use Buys Houses if you are living in the Pittsburgh area. We buy houses for cash as is, which means that you don’t have to do anything for your home. You have probably seen us or other cash house buyers purchasing real estate properties in a certain area.
Cash house buyers like Buys Houses buy your property in whatever condition, give you cash payment, and make sure that you don’t pay for any costs. We buy houses for cash and ensure that you won’t have any hassle. For anyone who isn’t familiar with cash house buyers, this sounds like a scam because these terms are too good to be true.
However, you should not be worried about cash house buyers. We buy houses for cash in a way that is different from the traditional method of buying and selling real estate. If you want to understand more about how we buy houses for cash and the process of buying real estate, you should read this article.
How do we buy houses for cash?
Cash house buyers like Buys Houses buy houses from people who want to sell their houses fast. Most of the time, it depends on the situation that people are going through such as divorce, recently inherited property, houses that need large rehabs, maybe they are in financial strain like foreclosure or bankruptcy. The largest issue we see are properties that need small and large rehabs. Rehabs can be very extremely expensive and can also be painful when dealing with certain contractors, trust us we know. You only need to contact us as we buy houses for cash. Once you call us, we will go to your property location.
Then, we will inspect your property and give an assessment. You should not worry about an assessment because we will not require you to repair or fix anything because we buy houses for cash as-is. We just need to inspect your real estate property to assess your property as renovations can be tricky to build a budget on. This assessment will be the basis of our offer when we buy houses for cash.
Afterward, we make an offer after 1 day. If you agree to the offer, the sale would be closed after a few weeks (depending on local boroughs). On average, a real estate sale would be closed in 30 days or less when selling on a cash house buyer. A traditional real estate sale closes in around 60 days. Cash house buyers give people an option to sell houses faster.
How do cash house buyers make money?
How cash house buyers make money | Photo from Freepik
Cash house buyers like Buys Houses are here to help people. We buy houses for cash and make sure that you get a cash offer in no time. Our service is not for people who want to earn as much as they can from their houses, but for people who want to sell their real estate property as fast as possible. This is why Buys Houses or other cash buyers do not require homeowners to fix or repair their properties themselves.
Major home repairs would require time and we don’t want you to wait that long. After the sale, we are the ones who repair and fix the property. Some people would refrain from cash house buyers. This is because there are cash house buyers that give low offers and then don’t buy the property.
While some cash house buyers do these acts, we can ensure here at Buys Houses that we make reasonable offers to sellers before we buy houses for cash. And if you don’t like the offer, we would leave it at that.
Of course, you can sell your home at a higher price when you have home improvements done. But, is it seldom that you can sell your house for 30 days or less and update at the same time.
Can you Make Money with We Buy Houses for Cash Companies?
Earn money with cash buyers | Photo from Freepik
The answer is yes. You can make money when you sell your house to cash house buyers in Pittsburgh. We buy houses for cash and make sure that you won’t have to spend money and time on inspections, house showings, mortgage approvals, and everything that comes with the traditional real estate sale.
You can still make money by selling your house to cash buyers. We buy houses for cash and the homeowner earns just as long as the homeowner bought their property years ago. A property that has been bought 20 years ago will probably sell twice its original price in today’s market.
For people with houses that are in old condition, selling their house to a cash house buyer is the best move. Instead of doing all the work needed to sell the house, they can have a one-time payment right away once we buy houses for cash.
Types of “We Buy Houses for Cash” Buyers
There are different types of cash house buyers. Each type has a different business model but one thing is for sure, we buy houses for cash as-is.
House flippers
House flippers are “We Buy Houses For Cash” companies or individuals that search for houses that are in bad condition. Some house flippers search through a list of foreclosed properties and purchase the cheapest ones. After purchasing the property, they fix the property and sell them or turn the property into a rental.
The key to house flipping is buying and repairing a house at the lowest cost possible. Once the property has been completely fixed, they sell or rent the property at a price slightly higher than its market value.
iBuyers
An iBuyer (short for instant buyer) is a buyer who works for a company that mostly buys homes online, often without ever seeing them in person. For an iBuyer to be interested in a property, it usually has to be in good shape and need only minor repairs. Most iBuyers buy several properties at once and resell them for a little profit.
iBuyers will make you describe your home through a phone call and determine its value using an Automated Valuation Model. The iBuying community is relatively new to the real estate market. Because of this, there are areas where iBuyers are not available. Another downside is that iBuyers do not see your property in person, but will give you an offer.
Buy and Hold Investors
Another type of investor you might meet is someone who wants to buy your property and keep it as a rental. Most of the time, the investor wants to buy a house that needs some work so that they don’t have to pay top dollar. They will then fix it up before renting it out.
Franchise cash buyers and real estate investment companies may be buy-and-hold investors, but according to the U.S. Census Bureau’s 2018 Rental Housing Finance Survey in 2020, nearly 73% of rental properties in the U.S. are owned by people who own one or a few properties to make money.
Franchise Cash Buyers
Franchise cash buyers are one of the most common “We buy houses for cash” companies in the real estate industry. These companies focus on buying houses as is and fixing them. Then, these companies would either flip a house or keep it as a rental. Franchise cash buyers generally offer you a fair price for your property.
Advantages of Selling your House to “We Buy Houses for Cash” Buyers
Selling to cash buyers | Photo from Freepik
The very first advantage of selling your house to a cash house buyer is it has relatively no hassle. Aside from the closing which takes about a few weeks, you will get your payment in an instant. This is perfect for people who don’t want to have a foreclosure written on their credit report.
Another benefit of selling your home to a cash buyer is that there is no staging, open house, or landscaping needed just to sell your home. For instance, we at Buys Houses will be the ones who will directly buy your home. We buy your houses for cash in whatever condition.
And since we are the ones that will buy your property, you don’t need to worry about closing. Once you put your property under agreement, there might be a time when a potential buyer’s loan is not approved. Once this happens, you would have to wait for another buyer again. When we buy houses for cash, we can show our customers some proof of investment to show that we don’t need loans or mortgages.
Key Takeaways
“We Buy Houses for Cash” buyers buy your house as is. If ever you need to sell your real estate property; don’t think that cash house buyers are scammers. Yes, selling your house to a cash house buyer won’t make you as much as selling it through traditional means. However, these companies will buy your house fast.
You can call Buys Houses at 412-561-9833 or fill out our contact form if you want to sell your home today. Inheritance? Divorce? Pre-foreclosure? We buy houses in Pittsburgh and make sure you don’t have to worry about them anymore.