A We Buy Houses company is a real estate investment firm that promises to purchase your home for cash, even if it’s not in the best condition. The companies can be a great option for homeowners who need to sell their property quickly, but they’re not without their risks. Real estate experts say you’ll likely make less money on the sale than you would if you worked with a real estate agent.
If you’re considering a We Buy Houses company, start with an expert home valuation from a local real estate agent. It’s free, and you can expect it to take about 30 minutes. The agent will visit your home, assess it and give you a market valuation. You can then decide whether to proceed with a cash offer from a We Buy Houses or an iBuyer, or work with a traditional real estate agent.
We Buy Houses is a national franchise that has locations throughout the United States. The franchisees are independently owned, so the level of service you receive from a We Buy Houses office will vary. However, the company is legitimate and has a good reputation among consumers, according to online reviews.
In general, We Buy Houses companies will make you a non-negotiable offer for your home within a few days of your first contact with them. The offer will be based on the condition of your home and the estimated cost to repair it. The offers are generally 50% to 70% of the home’s Fair Market Value (FMV).
As a for-profit house-flipping venture, these companies need to turn a profit on each sale to stay in business. That means they can’t afford to pay more than your home is worth, so you won’t get a high price for your property.
Many people who use We Buy Houses companies are in a rush to sell, but you can still get top dollar for your Philadelphia property with a good real estate agent. Real estate agents can also help you avoid costly repairs, deal with a slow-moving market and find the most suitable buyers for your home. You can also choose to hold onto your home and rent it out instead of selling it.