When the average person thinks about home buying, the image of a real estate agent walking potential buyers through a beautifully staged home comes to mind. But the old traditional style of home selling isn’t the only way to sell your home. In fact, if you are looking to sell quickly, it may not be the best home-selling option for you.
Enter, We Buy Houses companies. These types of companies make it a habit to purchase homes quickly and without much hassle for the homeowner. While every home-buying company is different, they all follow a general process that makes selling your Central Florida home quick and easy. Below is the general process you can expect if you use a We Buy Houses company in Central Florida to sell your home.
What is a We Buy Houses Company?
While iBuyers may be newer to the real estate industry, home-buying companies have been around since the 80’s and 90’s. These companies are often looking for homes that need extra work, owners that are in a financial rush to sell, and a chance to make a bit of money flipping a home or making it a rental.
A home-buying company takes the time and extra work out of purchasing your home by relying on data such as your home’s age, square footage, renovations, overall condition, surrounding area, and housing market status to provide an all-cash offer. Below is the general process you should expect to follow if you choose to work with a We Buy Houses company.
The General Process:
- Research the company you would like to work with and contact the company. The company will need information about your house that will probably include: the year built, condition, number of bedrooms and bathrooms, neighborhood information, etc.
- Receive an initial offer: This is the initial offer that is generally made within a couple of days of filling out the form. Remember, this is just an initial offer and is not the final offer.
- The company performs a walk-through. Some We Buy Houses companies will require a walk-through before they purchase your home for cash. The on-site visit should be scheduled quickly though that may depend upon the specific company you are working with.
- Receive a firm offer: Now that the company has viewed the property they will submit a firm offer. This generally occurs within 24 hours of the on-site visit. You can choose to accept the offer or decline it. If you are unhappy with the price you can decline the offer. Keep in mind that most house-buying companies do not negotiate.
- Accept the offer: If you accept the firm offer you will sign a sales contract and the closing process will begin. Most We Buy Houses companies will close your home sale within seven days. Generally, you can choose your move-out date. Your funds will become available to you almost immediately and you can begin the process of leaving your home!
Keep in mind that selling your home to a We Buy Houses company is not the best option for everyone. Sales to a We Buy House company are typically lower than that of a traditionally sold home. However, if you need to sell your home quickly it may be perfect for you. Remember to do your research and beware of potential scams. Always check the company’s credentials and look for recommendations from family and friends.