Busting 4 Myths About Companies That Buy Houses

It’s easy to be suspicious of something that is not mainstream. After all, the less you know about a certain thing, the less likely you are to trust it. However, when it comes to companies that buy houses, many things that people distrust about these companies are based on myths and misconceptions.

If you need to sell your house fast or in a situation that you are trying to get out of, a traditional sale may not work for you. A cash home sale may be a better option than hiring a real estate agent and putting your house on the market. For this reason, we are here to dispel the myths surrounding cash sales and to help you understand more about companies that buy houses

Myth #1: Cash Home Buyers Only Make Lowball Offers

This myth has been perpetuated by people in the industry who do not understand how cash offers work and who they are designed for. If you have unlimited resources, are under no pressure whatsoever, and have endless amounts of time to sell your house, a traditional sale may be your best bet. 

However, if you need to sell your fast and just try to get out of a bad situation, a cash sale is a smarter alternative. Why? Because a cash sale solves the real issue - helping you get out of your house or mortgage. In this scenario, the buyer isn’t lowballing you. Instead, they’re helping you sell your house fast so that you don’t have to put it on the market. Buyers don’t lowball you. Rather, they give you a healthy offer based on a percentage of your house’s current value.

Myth #2: Home Buyers Are Out to Scam You

Once again, this myth is based on false information. Just like any other industry, there are scammers in real estate. However, the best way to avoid scammers is to do your homework and find a reputable company that buys houses. A little research can help you find experienced companies that have successfully completed hundreds of real estate deals.

To be clear, house buying companies exist to make a profit from buying and selling houses. However, so are real estate agents and major investment companies. The difference is that home buyers can save you thousands of dollars in closing costs, realtor commissions, and repairs. Real estate agents cannot offer that same benefit.

Myth #3: Companies Are Only Interested in a Certain Type of Home or Buyer

This assertion is only half-true. Local buyers or house buying companies may specialize in a certain market segmentprocess is faster because or focus on a certain type of seller. However, for the most part, buyers work with sellers in all types of situations: new job, divorce, relocation, foreclosure, bankruptcy, probate, tired landlord, damaged house, or vacant house.

This means that buyers also buy all types of houses. They may work with a seller who has a heavily damaged property and then turn around and buy a house that is in perfect condition. Therefore, most companies are not only interested in buying worn-down or perfect houses. They can buy your house regardless of its condition or your current situation.