Unlike any other, the real estate market is flooded with sellers and buyers looking to make the best deals. However, you do not need to be the “wolf of wall street” before you can make the best deal on a property you want to sell. Usually, it starts with providing the correct answer to this question; who can buy my house?
The National Association of Realtors (NAR) said, “In 2020, only sixty-four per cent of sellers were very satisfied with the home-selling process.” As much as most sellers went home with a smile on their faces, some ended up somewhat dissatisfied. We need to ensure you are not one of such people. With both Gen X and Older Gen Y accounting for more than 40% of the total buyers, you would think the market is only filled with individual buyers. That is not the case! Some buyers in the mix are companies whose business model includes buying homes to make a profit (as every business aims to do). Those companies that advertise like this: We buy houses in Los Angeles, CA.
While your buyers can be who you’d think of in a typical Netflix show: retired couple looking to downsize, a family upgrading, or a young professional in search of a starter home. As a seller, it is a must that you consider every possible option. The option-weighing procedure is to help you determine who to sell your house to, what such buyers can offer in terms of price, and agreeable terms & conditions. This process is inevitable, and if you want to be a very satisfied seller at the end of the day, consider every possible option.
House-Buying Companies You Can Sell To
In 2021, a traditional sale takes about 85 days in California — from listing through closing. That’s 85 splits to 50 days to get an offer, plus the typical 35-day closing period. This is not even part of the time spent on negotiations and other hurdles that could drag out a potentially successful deal or prevent it from happening. What if you don’t have to wait that long?
Perhaps you engrossed yourself in some mathematical calculations, and you don’t love what you see as far as traditional sales go. House buying companies offer you intriguing deals that can be completed in far less, but here you are skeptical about their intentions and whether you will be the happier party at the end of the day. It is not a myth that both parties in a deal can go home with a big grin on their faces. We buy houses in Los Angeles; CA advertising companies are not a scam! They are life-savers!
As the name implies, home-buying companies buy homes directly from homeowners. This information does no seller any good until you hear that home-buying companies can pay for your property from their cash reserves. As a result of this, home-buying companies can buy your house faster than you can get it sold via a realtor or FSBO sale.
This guide will help you understand possible buyers you might have to deal with and give you enough information to make an informed decision about who to sell your home to. Here are some of the house-buying models you can come across.
1. House flippers
House-flipping companies buy properties to renovate, add value, and resell to make a profit. These types of buyers keep their eyes open to areas that need improvements, such as state-of-the-art fixtures, mechanical repairs, or a change to the layout, or any other addition that would immediately increase the property’s value. Every major city is filled with house-flipping companies, and the best you will come across in Los Angeles is John Medina Buys Houses.
2. Buy-and-hold companies
Unlike House-flippers, these types of buyers have not intention to resell the property. Rather they renovate and rent to tenants for profit. Buy-and-hold companies purchase houses that offer enough potential value or cash flow that ensures maximum return on investment for their owners or stakeholders. As with houses-flippers, you can find them in almost any city mainly because they focus on rental properties. Buy-and-house companies use a typical “BRRRR” model, which means “Buy, Rehab, Rebab, Refinance, Repeat.”
These types of buyers are looking for your best interest and will help handle the whole house-selling process, but at a cost, usually 6%-7% of the proceeds. iBuyers use cutting-edge technology and market data to make swift offers on houses, sight-unseen, after being contacted by an owner. Think of them as traders, analysts, and brokers of real estate. The main difference between house flippers and buyers is that iBuyers are generally always on the lookout for properties that are in good shape and not in need of renovations. This does not rule out the possibility of iBuyers flipping houses for you. Still, they will likely request a credit at closing for the upgrades. Large metropolitan areas have the highest number of iBuyers, unlike the smaller cities. This way, you have an idea of potential house-buying companies you can sell to. Based on priority and how fast you want the sale to be, you can sell to John Medina Buys Houses individuals; hire a realtor, list your house for sale, or go the FSBO sale route. Importantly, if you are looking to sell your house quickly, be rest assured that selling to home-buying companies will save you time. These kinds of sales require no bank financing; since there is no lender, there will be no need for an appraisal. You are either smiling with a big grin on your face in a couple of days while handing the keys over, or you can end up somewhat dissatisfied. Sell your house to one of the best companies that buy houses for cash, get it done at a faster closing time frame, and join the happy party.
As a home seller, it’s no longer a function of who can buy my house? More like, are you ready to sell? Because we buy houses in Los Angeles, CA.