7 Tips for Selling Your House for Cash to a House Buying Company
7 Insightful Tips for Selling Your Property to Cash Buyers
Cash home buyers have a reputation as a “last resort” for property owners. If you talk to a real estate agent, they will list down all the negative things you could encounter with such a transaction: low selling price and smooth-talking buyers that will lowball you. Selling your home for cash is only for the desperate, so they say. Of course, they only talk like this because they’re competitors. They want you to stick to the traditional method instead of the more efficient one.
Clearsale is your trusted cash home buyer in Denver, and we’re here to debunk all these myths and misconceptions. In fact, we’ll also give you tips to ensure a fast, seamless, and successful transaction. That’s part of our goal to give clients the most control in this major financial decision. Use the advice we shared if you’re asking questions like “How to sell my house in Denver, CO?”
Know Your Property’s Value
This is a basic and obvious thing to do, but some sellers still fail to get accurate values for their properties. They may overestimate the amount, so when the cash buyer provides more precise data, they feel as though they’ve been lowballed.
Thankfully, it’s much easier to check for your home's value nowadays. Sites like this provide an easy-to-understand breakdown. You should also check other websites to get a more precise estimate. Armed with this information, you can be more confident about going to a cash home buyer. Of course, you should expect the quote to be on the lower end of the spectrum. We’re not taking advantage of you — we’re just buying the property as is.
When We Say As-Is, We Mean As-Is
Over the years, we’ve encountered so many people who were desperate to get rid of some inherited house. There are also property owners whose listings have been stagnating on the market for months because of some issues. When we visit these properties, we’re met with mice scurrying around, rotting wood, and other junk that puts off any prospective buyer, but not us.
These situations will make a real estate agent hesitate, but dilapidated, out-of-shape homes are our bread and butter. These are everyday occurrences for our team, so we don’t have an issue at all. As-is means as-is to us, so we buy properties in any condition. You won’t need to make repairs or renovations, hire an inspector, or get new carpets.
With Clearsale, you’ll enjoy a win-win situation where you can get rid of unwanted property, and we get a home that we’ll later repair for sale. The best thing about it is that you can close and get your cash in as early as seven days! For more details, click here.
The More Cost-Efficient Choice
At first glance, selling your home for cash may seem like you’re getting the short end of the stick, and this is why some people are turned off by the idea. This is also the disadvantage that many real estate agents push to discourage you from this type of transaction.
However, the reality is much different. You’re actually going to earn more or less the same amount with a cash buyer as with a real estate agent. The key here is looking at the breakdown of where your money is. Let’s see where it goes in a traditional sale:
- Mortgage: When selling with a real estate agent, you’ll want to get rid of the property as soon as you can. That’s because you’ll still have to pay the mortgage as long as it’s unsold. In the worst-case scenario, the home won’t be sold for months to years, and you’ll need to pay the mortgage the whole time.
- Repairs and Upgrades: To increase the appeal of your home and give you more power during negotiation, you’ll need to make renovations, repairs, and upgrades. In most cases, you could spend around $10,000 to do the changes. However, the amount will go up if your house has major issues.
- Other Fees: You’ll need to pay the agent commission, home inspectors for their evaluations, and other professionals for their services. There are also hidden fees and closing costs that all pile up.
Let’s say you listed your property for $300,000. With all the additional fees, you only actually made $250,000. A cash buyer can offer a similar amount, but without the delays and inconveniences.
Be Mindful of the Company You Choose
Not all home buying companies are made equal. Yes, there are plenty of us in the market, but there are bad apples that harm the reputation of the industry. They target vulnerable people and take advantage of desperate moments. Thankfully, you can be confident with Clearsale. We’re your trusted team that focuses on win-win situations — everyone leaves happy and content after the sale. Don’t take our word for it. Read reviews from past clients and see what they have to say.
Work With a Home Buyer If Time Is Not Your Friend
Selling your property for cash is not applicable in all situations, and that’s coming from us. People who want to get rid of a property quickly are the ideal candidates for our services. However, those who aren’t in a hurry may opt for other methods. Of course, we can still provide our services if they so wish. Whichever the case, we will still aim to provide a win-win situation.
How do you know what’s the best option for you? You can think of selling a home like selling a car. You can always do it yourself and get the profit you desire. However, if you’re in a rush, you can bring the vehicle to a dealership for cash. When you exchange the car, you’re going to get a lower amount than the current market value, but you’ll finally get rid of the vehicle. In the scenario above, the car is your house, and the car dealership is us.
You Shouldn’t Be Paying for Anything
In a transaction as big as selling a house, you’ll want to be careful about who you give money to. With a cash buyer like us, we give the money and you give us the property. However, there are some scam artists who disguise themselves as real estate investors and ask for application fees. Once you pay them, they disappear along with your money. Clearsale and other trusted cash buyers will never do that, so beware of companies that ask for money during a cash transaction.
Only Seal the Deal When You Wholly Trust the Company
Even though you want to get rid of a property quickly, you shouldn’t jump to the first cash buyer you encounter. Establish trust first and see if they are who they promise to be. At Clearsale, trust is one of our core principles. We don’t buy homes if we feel that the owner is at a disadvantage — that’s not your style. Instead, we focus on a win-win arrangement and make sure that everyone is happy. Ready to sell your home in Denver? Fill out our form below and let’s talk!
You know that old saying of, why would you go to a Chevy Dealership to talk about Fords? If you don’t, let me explain it. People will often go to a company and ask about their competitors as if the competitor is the one who built the product. This can often happen in real estate. You will talk to an agent and they will tell you all of these myths about house buying companies. And why do they do this? So that you will give them your business.
But this article is coming from the mouth of a house buying company. We are a cash buyer company who will buy your house within 7 days. This process is an extremely quick and efficient operation that take very specific steps. For this process to move smoothly, here are 7 tips that will make your journey an easier transition.
1. Know Your Home’s Value
There are multiple different sites that will give you the value of the property you own. Here is a great site that will give you a quick breakdown of your home’s value. Now, this is a key to selling your house for cash to a house buying company. When you start to research your home’s value, you will that multiple different sites will give you different values for what your property is worth. This can give you a range for the home’s value. A house buying company is going to offer you something on the lower spectrum of the range you discovered. This isn’t because we are just cheapskates, but because most of the time, we are buying as is.
2. As-Is Means As-Is
I cannot tell you how many times I have gotten a phone call from someone who is just trying to get rid of their packrat grandmother’s house that she lived in for over 50 years. The person calling is usually saying that they just inherited the home and don’t know what to do with it. This is the ideal situation to illustrate as is. The seller and I will go and take a look at the home. We will open the door to mice scurrying out, leftover food that has been there for ages, and stacks of junk that for some odd reason, grandma wanted to keep.
This is an everyday occurrence for my team. We truly mean as is when we say it. You don’t have to repaint, fix plumber, or get new carpet. We can take care of it for you. Our goal at ClearSale® is to make it a win-win situation. You get rid of the come that you have no care quickly (remember, we can get you cash within 7 days) and we get a home for our business. If you want to learn more, read here.
3. The Money Actually Does Make Sense
A real estate agent is going to tell you that it just doesn’t make sense to sell to a house buying company because you are going to lose out on the money. But in all reality, there is a major chance that you make almost as much as you would have made with going through a real estate agent. The key to this is to track where all of the money is going when selling your home.
- First off, time is of the essence. If you sell your house to a house buying company, you don’t have to keep paying your mortgage while you are selling it. Through an agent, it could take months or even years to sell your home. This means you are going to just keep making payments on this home.
- Secondly, Repairs, maintenance and curb appeal all cost money. Are you going to be throwing an extra $5,000 to $10,000 in on repairs and replacements in your home? There is a major chance you will need to in order to sell it.
- Last but not least, what are you paying the mortgage company, the real estate agent, the closing costs, the extra hidden fees, etc…? These all end up piling up and the home that you listed for $300,000 ends up really only making you $250,000.
That is why selling you a house buying company makes sense. You don’t have to go through all of that hustle just to get paid almost the exact same amount of money.
4. Know That Not All House Buying Companies Are made Equal
Okay, so there are multiple different house buying companies and there are some bad apples out there. This is why I think that house buying companies get a bad rep. Some of the companies will target people who they can take advantage of. No, that is not us! Like I said earlier, we want a win-win situation for both the buyer and the seller. If it doesn’t make sense to us for you, we will tell you.
5. Time Is of the Essence
If you are looking to get rid of a home quickly, then a house buying company is the best option for sure. Most people who are not in a hurry, don’t need a house buying company (of course, we will take them though). This all returns back to making it a win-win situation. It is similar to selling a car.
You can sell the car yourself, it just requires patience. But, if you are in a rush, you can go and trade in the car to a dealership. The dealer is going to give you less than the free market would, but you get rid of it quicker and with much less hassle. This is how a house buying company works in comparison to selling your house through an agent. A house buying company is like the dealership and selling your car on your own is like using a real estate agent to sell. It all depends on your time frame.
6. Keep Your Money
Paying up front is something that scam artists will ask you to do. Don’t ever pay anything up front, even if it feels legit. There are people out there who will claim to be real estate investors, ask for an “application fee”, then take your money just to never be heard from again. Cash buyers don’t need you to apply for anything. They should take care of the whole process. If they are requesting things that they say will require money, be aware.
7. Sell Once You Trust the Company
Trust is the key to our company. We don’t like to buy a house if the person feels like they are getting the short end of the stick. We have seen it way too many times when a company takes advantage of someone. Trust me, that just isn’t our style at ClearSale®. We work hard to make sure everyone is happy with the process. So go ahead and fill out the form below to start your new journey today.