Selling property to a cash buyer sounds great, but it comes at a cost. Companies that buy houses for cash earn their money by selling your property to investors in the region or flipping a house after necessary repairs, depending on the model of the home buying company. If the company is a wholesaler, it needs enough space between the cash offer that they make to the homeowner and the selling price that the property must be offloaded for to another investor. And if they’re a home flipper, they need to be able to sell the property profitably after repairs and improvements are made.
To determine how much to pay for a home, a cash buying company often uses the rule of thumb of a maximum allowable offer, otherwise known as the 70% rule. That is, a “We Buy Houses for Cash” business does not pay more than 70% of the projected value of a home after repair. One of the primary considerations that are made after they have found a homeowner willing to sell them their home is how much are the cost of any repairs it may have. As you can see, this business model doesn’t benefit most homeowners who can afford the leisure of waiting months for their home to sell. Some homeowners need an outlet that can get them on to their next focus. And it is this “some” who are attracted to the “Buy Your House for Cash” people with their advertising.
And there are times when a home is literally unsuitable for anything other than a cash sale because of its condition. We buy houses, companies and other cash buyers allow you to sell your home quickly sometimes in a week or less. There are a lot of options in the “We Buy Houses” and “Cash For Your House” arena. And most of these companies are largely 100% legitimate real estate companies. How Blue Trust Properties differentiates itself is through a simple premise. Integrity. Sounds simple, but the truth of the matter is if you are selling your home due to a foreclosure, bankruptcy, or some other reason, using a professional real estate agent can really increase the chances of getting the best price for your home. Can you afford the amount of time that the agent needs to get the deal done? Are there a list of things that the agent requires of you in order to get your home to become marketable? Can you afford to do these things? If the answer to all three of these questions is yes, then you are disposing of your house in the right manner by dealing with an agent.
We pride ourselves on being the go to local investors in your market who will do what needs to be done and would be happy to see if we can strike a deal with you to buy your home quickly and for cash. Selling property to a company that buys homes for cash can make sense for someone who has a rental property with uncooperative tenants, a home that needs significant repairs, or an investor who needs to close quickly to move on to the next deal. You’ve probably seen signs at intersections or heard radio ads that mention the XYZ company that quickly buys your house for cash, just as it is. Just remember, not all of them can meet what you expect…. to have cash in hand in less than 30 days… especially if the wholesaler doesn’t get a buyer and backs out within that time period, and you’ve got the house you wanted to sell quickly.
Before you decide to work with any old company that advertises “We buy houses for cash,” it’s a good idea to talk to us. We’re friendly.