Most people are familiar with real estate agents – what they do and how they work. However, some home sellers these days might not know what a professional home buyer is, or what to expect when working with one. We wanted to share a little information about some of the services and experiences sellers can expect when they work with a professional home buyer.
One Great Thing – No Open Houses to Worry About!
When you decide to use a professional home buyer in Omaha, Nebraska, like Anna Buys Houses, for example, you won’t need to worry about having open houses and the stress that often comes with the panic of frantically cleaning your house before showings! Selling your home can prompt a roller coaster of emotions and adding house-cleaning drama to your to-do list can sometimes just be … too much! When using a professional home buyer, there are no open houses, no frustrating, middle-of-dinner phone calls asking if you are available to show your home, and no having to leave your home spotless every day before heading to work.
Purchasing Homes As-Is
Professional home buyers will usually purchase your home As-Is. As a seller, this is super helpful because it means you don’ have to worry about making repairs or doing any massive cleaning before closing. There are some companies that don’t require home inspections, which help make buying your home a truly “As-Is” transaction.
Professional home buyers can typically close faster than traditional home buyers, and often, they pay in cash. As you may be aware, traditional home purchases frequently require several steps to close a sale, like loan qualification from a bank, mortgage underwriting time, and property inspection time. A potential traditional buyer might not qualify for financing in the end, and the deal can fall through. Using realtors, there are realtor commissions paid to the buyer’s and seller’s agents, which ultimately affects the price you (as a seller) receive. (The usual commission is 3% per side, so if you sell your home for $300,000, you would have to pay $18,000 in commissions alone!) Professional home buyers typically don’t charge a commission or transaction fees.
Selling to a professional home buyer is pretty straight forward. Their contracts are usually basic “as-is” purchase agreements. There is less exposure to you of legal risks; from their discussions with you and from seeing the property themselves most often, these direct buyers already know the state of the property, so you won’t need to worry about them finding something you didn’t know or something you didn’t disclose. With traditional real estate contracts, there is a potential for the buyer to sue if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Professional home buyers are comfortable buying properties as they are, and aren’t going to come back to you later, saying they didn’t know what they were getting. They’re experienced buyers, looking for good investments that they can remodel and either resell or hold as a rental. Consquently, they are willing to take on a little additional risk.
Professional home buyers are in the real investment business and looking to buy your home as an investment. They are not expecting to move into the home on the day of closing. Most home buyers will allow a move-out timeframe that’s conducive with your schedule. This is can be helpful to sellers who need a little extra time to move. Also, going through the traditional realtor route, you’ll probably have to clean your home before you move out; but with a professional buyer purchasing your home, they’ll typically allow you to just pack up your personal items and furniture you want to keep and leave the rest. The professional home buyer isn’t daunted by clearing it out and cleaning it, as they begin the updating or remodeling process.