Photo by Sieuwert Otterloo
If you have the wrong idea about something it can really hold you back and often prevent you from making the right choice in really anything that comes up in your life, big or small. Something as small as a cup of coffee or as large as a house. When it comes to a house sale, which for most people their house is the most expensive investments of all time for them their whole lifetime, it really is important to know all of the options that are available to you. In this blog post we are going to talk about the 5 misconceptions people have about cash house buyers in Tampa, Fl.
Are They Ethical?
You have heard some stories on the internet or maybe you have known of someone with a bad experience. Taking advantage of helpless and vulnerable homeowners out of their hard earned equity, is not something that gets us out of bed every morning. We absolutely hate hearing those kind of mis conceptions that are looming over the heads of some cash home buyers in the area, and because of some bad apples we all have to suffer. But unfortunately those stories do exist and its important to protect yourself as a homeowner.
That is why we invite you to research us if you are a homeowner here in the Tampa area, but even if you do not go with us you definitely want to do your research as to who you are dealing with and what their track record might be.Do they have reviews on sites like facebook and google? When you call them do they actually pick up the phone? Our motivation at Tampa Cash House Buyer is to listen to your situation individually and come up with the right game plan for working with us. Sometimes that is telling you that we simply aren’t your best option. Other times we will be able to actually buy your house and make the process simple an easy for you. Not all house buyers are ethical but not all house buyers are unethical. Just make sure you know who you are dealing with and you should be fine!
Cleaning And Repair?
Another common misconception is the cleaning and repair part of the process. Unless your home is brand new, generally it will need some sort of common house repairs in order to list it out on the open market with a realtor. Chipping paint, water heater,furnace, roof, leaking faucets, you get the idea. Generally when you want to list your house for sale with a real estate agent you would be required to do those repairs and pay out of pocket at some point before the sale takes place. It is generally done in the inspection period, or the appraisal period.
But when you sell to cash home buyers you do not have to clear or repair anything. First of all they would be able to come in and give you an all cash offer. And that is an offer that would be “as is”. Meaning whatever the condition of the house was the day the offer is made, is the way the house would expect to look the day it was actually purchased. This can really be a benefit to house sellers who want a fast house sale. They know the house needs repairs, but they do not have the time to do them, or they don’t have the money to do them, or both.
Most house buying companies have a crew that goes in the day after the house is purchased and they do a “demo” and “Cleanout”. They basically go through and throw everything in the trash, clean out the house with the old cabinets, and old counters, etc. So if you were wondering if you had to Cleanout or repair your property before selling to a cash house buyer the answer is no.
Closing Date-The Day You Get Your Money
When it comes to the closing date this is always something that is a little confusing for people who sell or buy houses. The closing is usually scheduled out for 30-45 days if the buyer is getting a loan. But there are a lot of things that can come up that delay the sale. Mostly when it comes to appraisers. Especially right now where we are in 2020 some appraisals are taking way longer than normal. So its entirely possible that when you schedule a closing date, due to unforeseen circumstances the closing could be delayed. So you could be planning on moving Monday, but then you don’t actually move until the following Monday or Tuesday. Or more or less.
When you sell your house to a house buying company that is one of the most convenient aspects to the sale if you sell to cash home buyers. They can be very flexible when it comes to the sale of the property. For example, if the house is vacant they can usually close the sale within 5-14 days depending on if there is a mortgage on the house, or there are any liens or judgments. The other benefit could be if you lived in the house and you didn’t really know where you wanted to go yet. What if you knew you wanted to sell but didn’t know where you wanted to go? You could sell your house to the house buyers, they could let you stay in the house for 30-60 days after the sale, and then you move on to wherever you wanted to go. That would definitely not be possible if you listed your house with a real estate agent.
Closing Costs And Fees
When you sell a house with a realtor the price that you sold for isn’t even close to the price you actually get. You have to factor in realtor commissions, closing costs, lender fees, buyer lender fees and other fees. When you sell your house to a cash house buying company the price we offer you, is pretty close to the price you actually get. The only difference is the proration of taxes.
People should really take the time to discover the actual amounts they are paying when you list your house with a real estate agent. Right off the bat the buyers agent, and the sellers agent get a total of 3% each. So right off the bat 6% of the sales price goes to them to split evenly.Then you must factor in closing costs. That can usually add another 1-2% of the sales price depending on how the offer is presented. Sometimes buyers cover closing costs, sometimes they ask the seller to cover, sometimes they split. Really just depends. Just know what you need to look out for.
Selling to a cash house buyer is generally easy and very straightforward. You show up to a closing, you sign a few papers, you give the title company your checking out info and then once you sign the house over, you immediately get your funds. Generally within 1-3 hours. So when it comes to selling your house, its important to know the fees and the breakdown of what you are actually getting when selling with a realtor as opposed to a direct sale with a house buying company.
Greedy House Buyers
There are some stories out there that involve a house buying company taking advantage of people and really only caring about how much they made and not necessarily about helping a homeowner in need. To be completely honest there are some bad house buyers out there. They are out for nothing more than to make the most money they can, regardless of the relationships that they tarnish, bridges that they burn and reputation in the community. It really is sad when companies like this are around. But the nice part is that they usually don’t last that long. With the rise of people looking at online reviews before they contact a company, you can usually sniff out the bad ones.
We here at Tampa Cash House Buyer have a goal to always put the homeowner and their situation above all else. We want to be able to understand your situation and see if we are able to help you. Usually we are always able to help you in some way. Whether that is advising you that going with a realtor is probably your best bet, or we give you an offer and end up buying your house. We want to be able to help you so much and have you be so happy that you give us a 5 star review. So yes there are greedy house buyers out there, but there are also good ones as well. Do your research about the good and bad ones and get a few different options from each one. If you have a house to sell here in Tampa, Fl feel free to message us here.