What types of companies buy houses from sellers?
Traditionally, selling or disposing of a house is a challenging task. Sellers have to prepare their homes for sale after the necessary repairs are done, contact a real estate agent, list their house on the websites, and stage the house in the hope that they will procure an excellent, profitable bid from the buyers. Due to different circumstances, sellers may not want to carry out difficult repairs or wait a long time before selling their houses. 911Houses, the expert, fast cash closing real estate company in Florida, explores the various other supplemental options in the housing market which help people sell their homes fast.
1. Cash buyers and Franchises
There are a few branded companies that buy homes for cash and have franchises in different cities in the US. These franchises will be run by local people (also called franchisees) of that town who have the advantage of local knowledge. The franchisees will pay a portion of their profit or a fixed income on a regular basis to the branded company for their branding and other help as per the contract. The homes bought by such franchisees will be resold after repairs or kept as rental properties.
2. iBuyers
iBuyers stands for “instant buyers.” iBuyers are a relatively new addition to the real estate market. They buy houses that need significantly fewer repairs and can be easily resold.
iBuyers offer 80% to 98% of the house’s market value which is more than what other cash buyers might offer. However, currently, iBuyers do not currently operate in many cities in the US and hence their service may not be available everywhere. Moreover, a home has to satisfy certain criteria to qualify for an iBuyer sale. iBuyers typically look for owner-occupied homes built after the 1930s and priced between $100,000 and $600,000 (with a lot size of 1–2 acres). Even so, they may also be open to negotiations and may make making allowances depending on the market.
3. House flippers
House flippers are real estate investors who buy distressed and run-down or neglected homes to renovate and resell them for a highly profitable price in the market. A house flip generally happens within six months or a year from the time of purchase to reduce maintenance costs. This expedited renovation process keeps maintenance costs down and ensures a favorable profit.
4. Investors who rent out
Some investors buy houses from sellers and keep them as rental properties after a bit of renovation. Such investors may be franchises of real estate brands or even individual investors who want to have extra rental income without paying high prices too much.
5. Trade-ins
Trade-in companies help homeowners free up cash to buy a new home. Based on the value of the house to be sold, these companies provide cash to the homeowner to buy a new home. The Trade-in company will then sell the existing home. A percentage of the profit from the sale goes to the trade-in company to reimburse the cash fronted for the new home. The primary focus of such a company is to free up cash so that the homeowner can buy a new home before the old one sells and avoid paying two mortgages at once.
Why 911Houses.com?
911Houses.com gives the guarantee that they will buy the home directly from the homeowner and close the deal in 7 days for cash. Homeowners looking to sell their homes fast for cash can sleep peacefully and not worry about dodge drama relating to the extensive paperwork, costly repairs, staging, and stress.
