There are plenty of reasons you may be interested in finding a cash buyer for your home. Whether you’re in a hurry, don’t want to deal with financing, or your property isn’t in the best condition, it is important to understand who buys houses for cash to learn why cash buyers might be the best option for you.
But the world of cash buyers can be confusing, with many options and, unfortunately, scammers out there. By learning more about who makes fair cash offers and the differences between them, you’ll be better equipped to find the right cash buyer for your home.
Options When Looking For Cash Buyers
There are three main groups of cash buyers out there: individual investors (or regular homebuyers with cash) shopping the typical market, iBuyers, and companies that make cash offers on ugly or difficult-to-sell homes. Your goals, the market, and the condition of your home will dictate which of these options is the best for you.
Local Real Estate Investors/Private Cash Buyers
If your home is in relatively good condition, and you are not in a huge hurry to sell your home, a local real estate investor or private buyer with cash is an excellent option for you. With today’s market leaning in favor of sellers, it is likely you can receive at or above the asking price even with a cash offer.
While cash offers typically do go through closing much faster, if you’re selling your home on the traditional market, you’ll have to go through the steps of getting a realtor, preparing your house to sell, and negotiating with potential buyers. It is also very likely that these buyers will still want a proper appraisal and inspection before closing, which may take more time.
iBuyers
iBuyers are a relatively new concept on the real estate scene. This may be the best option for you if your house is in good condition, but you’re looking to get a cash offer ASAP. Typically you can get a cash offer as quickly as within 24 hours without the traditional steps of preparing your home for market.
While iBuyers offer quick cash offers, they typically come with service fees. Nerd Wallet reported that the service fee for two of the most popular iBuyers is 5 percent of the sale price. You will also pay an additional 1 to 2 percent for closing costs. This is equal to, if not more than, you would have to pay on the traditional market.
On top of the fees, you’ll need to keep in mind that these companies will then turn around and sell your home for even more. So even if they offer more than market value, it’s likely that you could make more selling your home the traditional way. Therefore, iBuyers are really the best option for those looking to sell in a hurry or people who don’t want to deal with the hassle of the selling process, not for those looking to maximize profit.
Top iBuyers in the United States:
- Opendoor
- Offerpad
- Redfin Now
Cash Offer Companies
The last group of potential cash buyers we have is companies like us who offer cash for ugly or otherwise difficult-to-sell houses. This is the best option if you are the owner of a severely damaged, ugly, or foreclosed upon home that isn’t attractive to the usual group of potential buyers.
Depending on the situation, you might be able to put in the time and money into fixing up the house into proper selling condition. But if your home is too far gone or you don’t have the resources to fix it up, selling your home to cash offer companies is the perfect move for you.
By selling your home to a company like Property Pals USA, you will be able to sell your home in as little as ten days. You won’t have to handle any of the repairs on your house or prepare the home to sell. We also cover all commissions and closing costs. That means you’ll be saving time, money, and stress!
The biggest concern when trying to find a cash offer company is avoiding the predatory scams that are out there. If a company is trying to pressure you into a sale you don’t feel comfortable with, trust your instinct. At Property Pals USA, we have tons of testimonials from past customers who can attest to the fact we will always treat you with dignity and respect.
Why Choose Property Pals USA
There are plenty of other cash offer companies out there, but if you’re looking to sell your house for cash in Illinois, we know we are the best team for you! To start off, we make it easier than ever to get a fair cash offer in as little as 24 hours. Then, once you accept the offer, our team will help you every step of the way until closing, which could be as quick as ten days later.
When selling to Property Pals USA, you can trust that our team will help you get the best outcome. There is no stress in selling your home for cash dealing with costly repairs, no staging your home, and no hidden costs. Property Pals USA has tons of experience in the Illinois market, and with our team of in-house attorneys and title companies, we guarantee that everyone will be happy at the end of the sale. Contact us to get started on your fair cash offer.
