How It Works
You're probably wondering how the process works when we buy your house for cash, so here's a little more detail:
We have a short, easy form that you can fill out with 4 pieces of information. This will help us gather some information about your house and give us the ability to contact you to make our offer.
After we do some research on your home, we will reach out to schedule a 15-minute walk through to confirm that our online research matches the actual condition of the home.
In most cases, we can give you a cash offer within 30 minutes of our appointment. From there, you'll have plenty of time to decide whether you want to move forward. We can leave the offer behind and allow you to think it over. If you decide the answer is YES, we'll discuss the closing process and timeline.
Still Not Sure? We've outlined the entire process in the article below...
How to Sell Your House Fast for Cash
If you need to sell your house fast for cash, one of the best ways to do it is by selling to a cash buyer. If you're curious about house-buying companies, keep reading to learn more.
Find A Cash Buyer
A cash buyer is a real estate investor who buys houses in cash and either fixes them up for re-sale, or keeps them as rental properties. They buy in cash so they can close on the property quickly and not have lenders involved. In many cases, they can close in just a few weeks. For this reason, they are a great option for homeowners who want to sell quickly.
To find a cash buyer, you can simply go to Google and type in "cash home buyers in Tampa" or "we buy houses in Tampa", or something similar. This will likely generate a list of different companies from which to choose. There are lots of investors in Tampa, so you should have plenty of options.
Do Some Research On Who Will Buy Your House
Since there are a ton of cash buyers in the Tampa Bay area, you need to do some research. Read about the different companies that come up in your Google search. Check out their "About Us" page, look at their social media, and see if you can find their website. As human beings, we typically like to do business with people we know, like, and/or trust.
NOTE - Some companies are more reputable than others. We recommend looking for the following things:
- Transparency
- Professionalism
- Easy to Contact
Selling your house to a cash buyer can be quick and easy if you choose the right buyer. However, choosing the wrong one can be a nightmare. Before moving forward, meet with the potential buyer and have a conversation about their price and their process. Be sure that you feel good about everything before saying YES.
Submit Your Information To Get An Offer
For obvious reasons, a cash buyer cannot give you an offer on your home without some information about it. There should be a form on their website that you can fill out to get the process started. They will likely reach out to you and ask if they can see your property. This is an excellent next step for you! Be sure to answer when they call!
Schedule An Appointment To Show Your House To The Buyer
Let's assume you picked an AWESOME cash buyer who responded quickly. Setup an appointment for them to come do a walk-through. They will want to snap some photos and they will ask questions about various parts of the house, such as the roof, air conditioner, water heater, and more.
This is also a great time for you to ask questions. A good cash home buyer will be happy to answer your questions and help you understand where they are getting their numbers from. They should also be transparent about any concerns they have regarding your property. If they are unwilling to share this information with you - BEWARE!
Most cash home buyers will look at your house and consider the following items:
- Current market value of comparable homes
- The condition of your home compared to the comps
- Necessary repairs that must be done to increase the value of your home
- The location of your home: neighborhood, schools, shopping, etc.
A house buyer will then typically subtract the cost of repairs and holding costs from the current "as-is" value of the home. The "as-is" value is usually lower than the value of comparables that have been updated prior to listing on the MLS. Since the buyer will have to do the repairs before selling the home, they will need to subtract repair costs, holding costs (mortgage, insurance, utilities, etc.), and closing costs from the price of the home before making their offer.
Your offer will likely be based on these numbers, but make sure your buyer can explain them! If not... BEWARE!
Sign Your Deal, Schedule Your Closing, Sell Your House, And Get Your Cash!
If you and the buyer are able to negotiate a price that is fair for both parties, YAHOO! Sign your deal and move forward. If you have questions they refuse to answer, then you should refuse to sign on the dotted line and call another company!
Most house-buyers can operate on a flexible timeline, so be honest if you need some time before moving. Traditional home sales usually take 30-45 days, and that's okay. However, if you need to close faster, be sure to tell your buyer that, as well.
Conclusion
That's it! Hopefully you learned a lot about how the cash house-buying process works. It's super simple and should be totally transparent. We cannot stress to you enough: if your buyer is NOT transparent with you, DON'T do the deal! There are plenty of buyers in Tampa who will be honest and upfront with you during each stage in the process.
If you're looking to sell your home quickly, a cash buyer could be a great option for you. If you wanna learn more, give us a call!