November 11, 2022
Local Guy Buys Houses | What Is a House-Buying Company?

What Is a House-Buying Company?

A house-buying company is a company that pays cash for houses. A company can be a single cash home buyer or a team of investors. A cash home sale is a private transaction in which the company works directly with the home seller without the need to pay a realtor. Since the buyer agrees to purchase the property as-is, there is no need for home repairs or upgrades.

A house-buying company differs from regular home buyers in that the buyer is already pre-qualified and committed to the sale. You don’t have to worry about them backing out at the last minute. A company that buys houses gives you the flexibility you need to sell your house fast and move on with no strings attached. 

What You Need to Know About House-Buying Companies in Your Area

There are several characteristics that differentiate house-buying companies from other home buyers in your area.

Work with a Pre-Qualified, Committed Buyer

You may get several offers on your home. However, many of these offers end in loan request rejections or cold feet with the buyer pulling out at the last minute. In a cash home sale, you don’t have to worry about the anxiety of losing the buyer. A cash home buyer has the resources necessary to pay cash for the house. If the buyer makes an offer, you can feel confident that they are committed to the property. 

Selling Your House As-Is for Cash Is Simpler

Most home sellers dread selling their house due to all the hoops they have to jump through to land a deal. A house-buying company buys directly from you. A private real estate transaction eliminates many of the steps necessary in a traditional home sale closing. You simply transfer ownership and sign the papers. The company pays you for the house. It’s that simple.

It Costs You Practically Nothing to Sell Your House

In a traditional home sale, you may spend thousands of dollars making home repairs and paying closing costs. You also lose thousands of dollars in realtor commissions when you hire a real estate agent. By contrast, a cash home sale costs you virtually nothing since you have no selling expenses. In many cases, the buy agrees to pay up to 100% of the closing costs.

You Have More Options When Selling Your House

Every home sale is unique and filled with challenges. A traditional home sale is not designed to accommodate these challenges. If you need to sell your house fast but are going through bankruptcy, divorce, foreclosure, or probate, a house-buying company can buy your house right now to help you get out of these situations. 

How Do I Sell My House to a House-Buying Company?

If you have already listed your house on the market, you may get an offer from a local house-buying company. If not, you can go online or ask around to find a house-buying company in your area. Once you find a reputable company you want to work with, you follow three simple steps to sell your house fast. 

Step 1: Meet with the Company

The first step in a cash home sale is to meet with the buyer. You discuss the property and why you are selling. The buyer may request an on-site walkthrough or may want to chat with you over the phone or video. It’s the perfect opportunity to ask questions and learn more about the benefits of a cash home sale. The buyer may also ask questions about the house.

Step 2: Get a Cash Offer

The buyer will assess your property’s market value. If they like what they see, they will move forward with the sale and send you a cash offer. You can expect the offer within 24 to 48 hours of the initial meeting. The offer may include both the offer price and the sales terms. Make sure you read through all paperwork carefully so that you understand the terms before accepting the offer.

Step 3: Close the Sale

If you accept the offer, the last step in the process is closing the sale. The buyer may hire a title company to transfer ownership of the property. From there, you simply sign the paperwork and close the sale. The company pays you for the house. You walk away from the mortgage and the property. It is the fastest and simplest way to sell your house as-is.

Local Guy Buys Houses: Your Premier House-Buying Company

At Local Guy Buys Houses, we help homeowners sell their properties quickly and affordably. We buy houses as-is. You make no repairs and pay no closing costs or realtor commissions. Call 855-205-5999 to get a fast cash offer on your house.