During the process of finding buyers and selling a house, homeowners want to work with companies that are the right fit for the transaction. It is easy to fall into a trap of working with a cash home buyer that is not as reliable as you first thought. We have heard horror stories of homeowners attempting to sell a property to companies that buy houses for cash. Do you plan on selling a house for cash, but are unsure how to locate the best home buyer for the job? In this guide, we review several pieces of advice on how to navigate cash home buyers when selling a house.
Receive My Cash Offer
Advice on Selling Property to Companies that Buy Houses for Cash
How to navigate cash home buyers when selling a house.
The people behind Companies that buy houses for cash
Along with many other industries, the real estate world comes with an interesting batch of people. For example, when selling a house to companies that buy houses for cash, you could work with buyers from all different levels of experience.
Experienced cash home buyers
Certain cash home buyers have been in real estate for +30 years. Their full-time job is buying houses, and they truly care about their reputation. The last thing that these home buyers would do is want to mess up a transaction. Experienced home buyers typically have tons of experience helping homeowners sell houses for cash.
Have you ever left a bad review for someone after selling something to them? An experienced cash home buyer is aware that this can happen. It would be a huge blow to their reputation and credibility. Risking their entire career is not worth making extra cash by scamming the owner of a home. You can expect these companies that buy houses for cash to treat you with respect. Most of these companies will have several potential plans on what to do with your property:
- Flip the property
- Live in the house themselves
- Quickly sell the house after buying it
- Hold it long-term as a rental property
Regardless of their intentions, you can usually count on these experienced cash home buyers to act with integrity. If you plan on selling a house for cash this year, working with a buyer that has experience will help.
Cash home buyers that just started
On the flipside, there is a resurgence of cash home buyers entering the real estate industry that have minimal experience. If you live in a highly sought after neighborhood, you most likely know who I am talking about. They usually make these claims about how they buy homes:
- Closing with 30 days
- We are a company that buys houses for cash
- No fees
- No commissions
- Sell a house without a realtor
The reason that there are so many new cash home buyers like this is because of the low barrier to entry into buying houses. It is harder to do in more expensive markets. However, in a place like Philadelphia PA, it is easier to get into since houses are cheaper. These inexperienced companies that buy houses for cash usually partner with other home buyers to close deals. Cash in the bank may be minimal for them.
To buy a house, they often will bring in a money partner to close on the deal with them. In the grand scheme of things, that is fine, as long as the homeowner is getting what they are promised and all terms are met. However, deals can sometimes fall apart later. That is when it becomes unfair to someone trying to sell a house for cash. Homeowners expect the process to be quick. They may even have future plans lined up with timelines to hit. Make sure that if you are working with a new cash home buyer, that they can perform on their promises.
Ways companies that buy houses for cash contact you
The magic word here is marketing. How do companies that buy houses for cash market their services to you, the homeowner? As mentioned before, if you own a property in a neighborhood that is appreciating in value, you have probably been marketed to already. Companies that buy houses for cash have two strategies when it comes to this. They either reach out to tons of people all at once, through mass marketing. Or they take a more individual, refined approach.
Postcards about selling a house for cash
Postcards are a common marketing channel and have been around forever. Most companies that buy houses for cash will send these out to homeowners in areas they are targeting. It is easy to do this at scale. Cash home buyers can send out 1000’s of postcards at once. By reaching so many homeowners at the same time, it becomes a numbers game. They increase their chances of finding someone who is planning on selling a house for cash. Postcards usually get thrown away by homeowners. However, if sent to enough people, these home buyers are likely to find at least one person who wants to sell a house for cash.
Handwritten letters to buy a house
This strategy has become more popular over the past decade. Handwritten notes, also known as yellow letters, come across as more personal to homeowners. Think about it. Would you rather respond to a corporate-looking postcard or a handwritten note? Usually the latter gets a better response rate. Many companies that buy houses for cash know that a personal touch can elicit a higher rate of response from homeowners.
There are now companies that print these handwritten notes and make it look like it was actually handwritten. By doing this, it pairs the personal touch of a letter with the scalability of ordering many at once. When you receive a letter asking if you want to sell a house for cash, it is usually worth calling. There is most likely someone behind the letter that took the extra step and really does want to buy your property. Do your best to identify if the letter was printed, or truly written by hand.
We buy houses billboards
We personally don’t have much to say about these billboards and do not use them ourselves. They may use terms like “fixer-upper” when advertising that they buy houses. Depending on where you live, you might have never seen these before. They aren’t in every market. However, this is another way in which companies that buy houses for cash can reach out to you. When is the last time that you called a billboard ad?
Phone call from a home buyer
“Keep it simple, stupid”. While some cash home buyers get lost in creating fancy ads, others simply call homeowners directly. It is easier to get a full message across when talking over the phone versus sending a postcard. The experienced companies that buy houses for cash will typically call you directly instead of sending you mail. If they are seriously interested, they will cut to the chase.
Selling a house for cash is a big deal. If you speak to a cash home buyer over the phone first, you can feel more comfortable working with them. It builds a personal relationship to start! Our advice is to not be afraid to answer the phone when a cash home buyer calls. Especially if you need to sell your house quickly, it helps to talk with as many people as possible. You may get that call from a company that purchases homes for cash with the offer of your dreams. There’s only one way to find out what that offer is! Don’t be afraid to give these home buyers a shot.
We help people through one of the most important investment decisions of their lifetime by seamlessly providing fast, honest and professional real estate services.
How to find cash home buyers near me
Maybe you are not the type of person that likes to sit around and wait for things. I can relate. If you are impatient, or simply don’t have time to wait, you can seek out cash home buyers yourself. There are a variety of places to find cash home buyers in your area. One of the best places to start is here, online. Google is a great place to begin your search in finding companies that buy houses for cash.
There are several phrases that you can search to find these types of home buyers:
- Cash home buyers near me
- Companies that buy houses for cash
- Home buyers in my area
As mentioned before, experienced cash home buyers care about their reputation. By searching online, you can instantly find reviews on these people. Would you rather would with companies that buy houses for cash that have 5 stars, or 1 star? Leverage the information from other homeowners in your area that have worked with these buyers. It is helpful to look for situations that were resolved by these companies that are similar to yours.
For example, if you are dealing with an eviction, read through the reviews to see if anyone else was also helped with that type of situation. Especially when dealing with a stressful situation like that, it is extremely helpful to work with cash home buyers that can bring experience to the table.
In a real estate market that is doing well, there are more and more people getting into the industry. Selling a house for cash is technically easier now, but it can be more difficult to find the right home buyer. By following this advice, you can decipher which person is best suited to work with you. Click here to learn more about finding companies that buy houses for cash near you.