Is Cash House Buyer Legit?

There may come a time when you want to sell your home fast. Therefore, you want to avoid the hassles of waiting for the perfect buyer. Selling off-market keeps you from jumping through hoops and helps things move quickly. Unfortunately, some predatory property investors take advantage of your situation. Luckily, HappyDoor is much different. It is a totally legitimate business that gives the best price possible so that you enjoy a positive outcome.

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Real Estate Agent Versus Real Estate Broker

When a person begins thinking about selling his of her home, it is common to contact a real estate agent. This professional facilitates a property transaction under a brokerage. On the other hand, a broker may work as an independent entity to complete this type of transaction. Usually, the broker has completed additional training and licensing requirements. In certain cases, a broker who works outside of an agency will purchase homes for cash.

Professional Home Buyer Versus Traditional Buyer

A professional buyer is a person or company that purchases homes directly from owners. A traditional buyer is someone looking for property who usually works with a real estate agent.

Benefits of a Professional Buyer

A professional home buyer has experience looking at various properties and performing research. This person can inspect a house quickly and make a solid offer. Since he or she has an idea of the necessary repairs and renovation costs, a cash offer will be made without hassle. A traditional novice buyer will usually need time for a professional inspection and other expensive tests.

Normally, a professional buyer invests in a property without requiring work to be done. In other words, he or she will take a house in “as-is” condition. A traditional buyer will care about the home’s appearance and function.

A professional buyer has no connection to a real estate office. This individual comprehends the home-buying process and does not require a middleman to complete the transaction. Since this person usually offers a fair and fast offer, negotiations are not necessary.

If you are in a rough spot, a professional home buyer may assist. He or she may be able to help you avoid foreclosing on your property, selling a rental home without essential financing, or processing mounds of paper. In fact, the entire transaction will be convenient and smooth.

Beware of Cash House Buyer Scams

Although legitimate businesses like HappyDoor exist, there are cash house buyers who are scammers. It is essential to understand how to identify red flags.

  • Asking for Upfront Payments. The goal of a cash house buyer is to purchase property from owners. The cash purchase is meant to aid the seller. No part of the deal should require the seller to pay the buyer anything. Working with an agent will bring commissions, renovation bills, and closing costs as well. However, a trusted cash buyer will never request any type of payment.
  • Bait and Switch. In real estate, verbal agreements mean nothing. Often, investors make promises that look completely different on paper. Before signing a contract, you must read the fine print. Sometimes, a scammer will pack a written agreement with fluff that is confusing and deceitful. A trustworthy buyer will explain the wording and the terms. If you uncover new fees in the agreement, you should question the amount. With a professional home buyer, there should never be any added or hidden costs.
  • A Guarantee to Receive Total Market Value. As with any transaction, believing big promises is not wise. A cash buyer is unable to pay the full market value of a home. To start, he or she is purchasing an imperfect property. Also, a buyer may make the offer to allow you to live in your home after its sale. However, you will likely be tricked into paying exorbitant rent. It is best to be cautious when lofty promises are are made.
  • Unable to Offer Proof of Funding. Unless a buyer is able to prove that he or she has the cash to purchase a property, the deal is likely a waste of effort. A buyer should provide certain information, including the name of the holder on the buyer’s account and bank statements.
  • Delay Tactics. A shady buyer will often use tactics to delay the completion of a purchase. Since this individual knows you are in a position requiring a swift sale, you will do anything to seal the deal. This means that you will accept a lower offer without the ability to find a new buyer. A cash sale with a trustworthy buyer will stick to a reasonable timeline.

How Much to Expect

Different investors make varying offers. In the end, it often depends on the condition and location of the property. If your home is in good condition and is in a desired neighborhood, your offer will likely be better than if it needs work and is located in a remote area. You should at least expect to receive 70 percent of the “After Repair Value” of your property.

How to Contact a Trusted Buyer?

Since selling a home is a big transaction, you want to make sure that you get a fair price and that the deal is completed without getting scammed. It is essential to perform research on the person or entity that is making the offer. This includes reading BBB ratings.

Most times, a house flipper, a buy-and-hold investor, or an online house-selling platform will perform these types of transactions with honesty and integrity. These outlets offer quick closings, flexible move-out dates, and reduced expenses.

Working with HappyDoor

HappyDoor was created to help homeowners who do not have the time or money to sell a pristine property. We understand the disadvantages that come from working with a real estate agent, including extended time and costs. Our purposes is to help you avoid hassles so that you can get on with your move. We always offer sellers the best prices so that our business improves and so that clients receive favorable outcomes. Our business model is totally legitimate and is a beneficial way to complete a real estate transaction with peace of mind. For more information, call us today.

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