Homes Commonly Purchased by Cash Buying Companies

chofhine • Sep 28, 2022
Homes Commonly Purchased by Cash Buying Companies

You may be wondering if your home matches the types of homes that cash home buying companies usually purchase. You can make a no-obligation call to the company to find out. Nevertheless, if you’re still researching home buying companies, the following should improve your understanding of the types of homes that most cash buyers look for.

Homes Needing Repairs

Many home sellers turn to a cash buying company for a quick sale because they don’t want to take the time or invest the money to make repairs on their home. Cash buying companies specialize in purchasing homes that are in disrepair or need updating. Often, they will rehab the homes and resell them.

Whether your home needs numerous small repairs or just one expensive repair, like a new roof, the cash buying company will probably be interested in it. They won’t ask you to fix anything up, and no home inspections will be ordered.

Homes Facing Foreclosure

If you still owe money on your home, you’re behind on your payments, or you’re facing foreclosure, then selling your home to a cash buying company might be a solution for you. A quick cash sale can often help get you out of your debt and give you the freedom to start fresh.

Cash buying companies will often buy homes approved by a lender for a short sale. In a short sale, the mortgage company agrees to accept the total proceeds from your house sale as settlement for the balance of your loan. Talk to your lender if you think you may qualify. 

Homes Under Probate

Inherited homes and homes under probate are another common purchase that cash home buying companies frequently make. These homes are often in need of repair, have been vacant for some time, or have out-of-date features that make them hard to sell. The heirs are also eager to finish probate and settle the estate. Selling an inherited home “as-is” on the market can take months. A cash sale can expedite the process.

Homeowners sell to cash home buying companies for a variety of other reasons. Often, life events like retirement, divorce, downsizing, or a quick relocation require a fast home sale. If you’re unsure of whether a cash sale is the right choice for you, contact a company near you and ask for a consultation.

Is selling to a cash buyer right for you? See how other home sellers in Utah have benefited by selling to a cash home buying company by clicking here ! 

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