If you own a home in the Greater Houston area and are looking for a house buying company that will buy your property for cash, here are some pertinent questions you should ask them before signing on the dotted line.
Do you have an industry accreditation?
You need not really ask this question, as a valid accreditation would generally be mentioned on the company’s website (never entertain a home buying business that does not even have a website).
Work with a company that has a certification from a real estate authority or a Better Business Bureau (BBB) accreditation, as it says a lot about a business.
An icing on the cake is a high BBB rating, such as the A+ rating of Haan Homes, a real estate investment company that buys homes in any condition across the Greater Houston area.
Will you pay a fair price for my property?
Wholesale home buyers generally buy homes that are in need of extensive repairs or those that the owner needs to sell urgently owing to situations such as possible foreclosure, divorce, immediate relocation, inherited property unfit for occupation, urgent need for cash, problematic tenants, and so forth.
Cash buyers generally pay 80% or less of the ongoing market value of homes in a neighborhood. The value is determined taking into account factors such as the condition of the property, cost of repairs and potential resale value.
Some home buying companies are able to pay more than others because of their volumes—buying, remodeling and selling more homes gives them the benefit of reduced overheads and discounts from contractors, which they pass on to the seller.
Do your research, ask relevant questions and accept the offer from a cash buyer only if you’re satisfied that you’re getting a good price.
Will you buy my house even if it is occupied by tenants?
One of the reasons many landlords choose to sell their homes to cash buyers is the failure to deal with nightmare tenants. The stress of falling behind on their mortgage due to nonpayment of rent and deterioration of the property due to lack of upkeep by the occupants forces homeowners to consider getting rid of the property altogether.
A good local home buying company will buy your house regardless the fact that you’ve rented it out. When shortlisting home buying firms in your area, choose one that will give you a good price for your home despite its condition or occupancy status.
Am I expected to pay a sales commission or any such fees or charges?
One of the key benefits of selling your house to a cash buyer instead of listing it with a real estate agency is that you get to save several thousand dollars in agent commission. A reputable home buying company will not try and fleece you with unexpected fees or commissions of any kind.
Nonetheless, it is better to clarify this right at the beginning, to avoid unpleasant surprises after accepting the offer.