Maybe you have just found out that you need to relocate due to your employment, or perhaps you are going through a major life change due to a divorce, and you need to sell your home as quickly as possible. In these instances, it is always logical to work with a home buying service to get your home sold a quickly as possible. Here are a few tips and expectations for new home sales:
1. Expect to have your home examined by a professional.
Homebuyer services usually send out a professional to assess the home before they extend an offer to the seller. This assessment won't take that long, but it can be fairly in-depth. The property examiner will be looking at:
- The overall condition of the property
- How much work will need to be done to the property to prepare it for resale
- The functional aspects of the property, such as the electrical system and HVAC system
2. Expect to get an offer on your home rather quickly.
Most people who turn to home buyer services to sell their home are looking to get their home sold as quickly as possible. Therefore, these companies work really hard to get a cash offer to sellers rather quickly to serve the clients well. You can usually expect an offer soon after the property evaluation, sometimes within just a few hours or days.
3. Expect the offer to be smaller than what you would expect to list the house for traditionally.
With a home buying service, you are skipping all the extra steps that usually go along with selling a home. You won't be doing any listings, advertising, or negotiating. You won't be facing markup to cover the costs of these things either. You are getting a straightforward cash offer for your property with no frills or commission cuts given to an agent. Therefore, the cash offer is likely going to be a bit less than what you would list the house for in a traditional way through a real estate agent.
4. Expect to be given a short time frame to get moved.
When you initially contact a home buyer service, it is good if you are already making arrangements to move to your new place or get your belongings relocated. You will be given time to move, but the time frame may be a bit shorter than what it normally would if you were selling your home in a traditional manner.
When you are faced with a down market, there are a lot of things that can run through your mind as a homeowner. If you had to sell, would you be able to make your money back? What will you do if you have to sell your property at a loss? Do you think you are ready to buy a new home?
Although there are a lot of things that are important to think about, the fact of the matter is that understanding real estate challenges is instrumental to making money with your property. From moving forward with new ideas about real estate to working with the right professionals, it pays to read up on the market. Learn more today!