Selling a property to a private house buyer is easy and convenient because it eliminates the traditional real estate sale procedure. Most importantly, it removes brokers and agents who take an average of 3% of the total house sale.
Most private home buyer firms buy houses directly from the owners for cash. Therefore, they are also known as cash buyer companies. They have a reputation for fast cash purchases, making this an ideal option for any homeowner looking for instant liquidity and a stress-free transaction.
How a Private House Buyer Works
As mentioned, a private house buyer, or a cash buyer firm, typically buys properties for cash instantly. As the real estate industry evolves, these investors are becoming common. They use digital platforms to market themselves and invite home sellers to sell their homes to them.
You are likely to come across private buyers for houses who advertise themselves with slogans such as “we buy houses for cash,” “we buy houses fast,” or “we buy ugly houses.” Indeed, this is how they operate.
Most private house buyers use the home flipper concept, buying old houses for cash and then selling them later. You can find out this here.
How to Sell a Home to a Private Home Buyer
It is easy and fast to sell your property to private home buyers. In most cases, having your cash in your account will only take a few days. Here is the typical process.
- Contacting the private house buyer – If you are interested in selling your home fast for cash, look for a popular private home buyer company and call or email them.
- Home valuation – The private house buyer will send their experts to conduct a home appraisal or take you through an online property appraisal. This will help both parties to agree on the house’s current value. However, any homeowner can have a separate valuation to gain more negotiating power.
- The buyer will then make a cash offer for the property. The home seller can accept, reject, or negotiate to get a fair offer.
- Closing the deal – If the seller accepts the cash offer, the private house buyer will then facilitate the closing process. It involves the signing of contracts and transfer documents. The seller does not need money for this process, another benefit of a fast cash sale.
- Receiving cash – Private home buyers aim to buy properties for cash within the shortest time possible. Therefore, they will pay as soon as the closing process is complete. However, the seller should seek proof of payment from the buyer’s bank before signing the last transfer documents.
Final Words
If you want to sell your home for cash in the easiest way possible, ensure that you have chosen a reputable private house buyer firm, also known as a cash buyer company. The sale only takes a short time, and you do not have to spend any money to sell a property. Additionally, it eliminates many uncertainties in listing a property or targeting mortgage buyers. It is the best option.
