Many people have questions about professional home buying companies because they operate so differently than the traditional homes sales process. Instead of listing your home on the market, they offer to purchase your home directly from you. When you learn more, you can understand why home buying companies are making a significant impact on the home sales industry.
Who They Are
Home buying companies are locally-owned and specialize in your specific location. Although some are affiliated with a nationwide franchise, others are independent companies consisting of people who live in your area and know your town well. The local connection means you will be dealing with people who are committed to your community for the long term.
You can find out more about the company by visiting the Better Business Bureau website. You can find out how long it’s been in business and whether any complaints have been submitted. The BBB rates companies like grades in school, with A+ being the highest.
What They Do
Home buying companies are not real estate brokers. Instead, they purchase homes directly from homeowners. They may keep the properties and rent them, renovate the home and resell them, or sell them to other property investors.
The direct transaction means they cut out much of the red tape and expense that you might experience in a traditional real estate transaction. There are no showings, property inspections, or appraisals, and the company doesn’t have to obtain financing to buy your house.
How They Work
To sell to a home buying company, you can call or fill out a form on their website. You’ll give basic information about your home, such as the size and location. Sometimes the company will send a representative to meet with you.
Within 24 hours, you’ll have a no-obligation cash offer. If you accept, you can set your closing date within a week or whenever it’s convenient for you. You pay no commission or closing costs.
Professional home buying companies are growing because they offer an alternative to the traditional home sales process. They pay cash, and they don’t require you to make repairs on your home. For homeowners wanting a quick sale without the stress, a cash sale to a home buying company can be a good choice.
If you’re in the Indianapolis area, you can learn more about a locally-based home buying company by clicking here to view their website.