4 Things People Don’t Know About Working With Home Buyers in Louisville KY
A home sale is particularly a very emotional roller coaster ride for most people. It could be an opportunity to move up into a bigger and better home or it may be a forced sale due to job loss, divorce, or some other life-changing event. An educated decision empowers you with the ability to make smart choices as long as you are armed with the right facts. Homeowners always want the highest possible price for their home but they don’t like to pay the high fees associated with real estate agents and traditional home sales. Real estate commissions in the US are typically 4% to 6% and are paid by the seller at closing. People try to avoid these costs by going the For Sale By Owner (FSBO) route or on their own behalf. However, only 11% of homeowners successfully sell their houses this way. What if there's another solution? Professional home buyers - that's right.
If you have never been involved in a sale with a home buying company before, you are probably not familiar with the term "Louisville home buyers." They are professional investors who buy properties - usually distressed ones - fix them up, and then either rent them out or resell them. Examine some of the things people don't know about working with
home buyers Louisville KY before you make a decision:
Low-Ball Offers
It is quite common that home buyers will submit a lowball offer to sellers in an effort to get a great deal on the property. In fact, this is one of their main strategies. And while you may be offended by the offer, remember that these investors are in the business of making money and they are experts at it. A lowball offer is an informal term for an offer that is significantly below the seller's asking price. Low-ball offers are sometimes made in an attempt to take advantage of a seller's desperation to sell or lack of knowledge about the property's value. However, these offers can also simply be the buyer's honest opinion of what the property is worth.
But we take a different approach to it, low-ball prices isn't our game. We want to give you a FAIR all-cash offer with NO obligation and let you take your time to think about it. Quite the opposite, right? We navigate you through the complete and quick process while being respectful of your time and situation - we will explain what you are going to get by selling on the traditional market, listing a home with an agent, or doing all of that by yourself, then you can compare our offer to what you would've gotten otherwise. No pressure, no tricks, just facts.
What's the Rush? A lot of homeowners are caught up in a time crunch and need to sell their homes fast. Job loss, foreclosure, divorce, or a move for work or family can all create a situation where time is of the essence. In those desperate moments, home sellers turn to quick-cash buyers who promise a fast and easy sale.
What's In It For Us? We do business and potential profit is, of course, a part of that. But we live in this community, and we want to do our part in making it a great place to live. By taking problem properties and turning them into something the neighborhood can be proud of - whether that's a beautifully renovated home or a well-maintained rental property. We pride ourselves in being a company that is known for being helpful and considerate to our clients.
It Takes Money to Make Money
The famous saying is true - it takes money to make money. Selling your home in a traditional market requires you to make repairs, stage the property, pay for marketing, and then pay a real estate agent's commission. On top of that, you have to deal with the bank's appraisal process and the buyer's loan contingency. Repairs don't come cheap if you are in the middle of a home remodel - it can be tens of thousands of dollars. Bathrooms, kitchens, or worse, a new roof. For many homeowners, this is simply not an option - because you have to burn money to ensure a good amount of profit on a home sale.
And even after all this hard work, time and effort, there's still a chance that the lender may not approve the buyer's loan or that the appraisal comes in low, killing the deal. But when you sell to
Louisville cash home buyers - you save money on all of the repairs, marketing expenses, real estate agent fees and eliminate the risk of appraisal and loan contingencies. You skip all the hassle and get paid in cash - meaning you can pocket the entire profit from an as-is sale.
You must have heard a horror story about someone's home sale falling through at the last minute. It's not uncommon for buyers to back out of a deal or for their financing to fall through. And if the buyer is getting a loan to purchase your home, there's a good chance that their loan could be denied by the lender - no matter how much they've been pre-approved for. In a traditional sale, the buyer's loan is one of the biggest contingencies - meaning that their loan must be approved in order for the sale to go through. If it's not, the deal is off and you're back to square one.
It's Not as Profitable as You Think
A popular belief among homeowners is that they will make a lot more money by selling their homes on the traditional market. Although it's true that you will technically make more money in the long run - it comes at a high cost. And most importantly the current real estate market situation in your area will greatly affect how much money you will make. It's not as simple as putting your home on the market and waiting for an offer - there's a lot of work that goes into it. Buyers don't just hand over huge sums of money for properties, especially in today's market.
An analysis of county records by real-estate broker and buyer Redfin Corp. found that 30% of U.S. home purchases in the first four months of this year were all cash, up from 25.3% last year. The share of cash buyers is the largest since 2014, the company said. (1)
Closing Date Issues
Selling through a traditional route means that you are at the mercy of the buyer's schedule. If they want to close in 30 days, great. But what if they need more time? Or worse, what if they back out of the deal entirely? You could be stuck waiting months or even years for another buyer to come along - all while your mortgage payments continue to pile up. Home sellers often have to arrange a temporary living place while they wait for their home to sell. This could mean paying for renting an apartment or even staying with family or friends. And if you're trying to sell in order to move to another state for a job - this could cause some serious delays in your plans.
Choosing
cash home buyers Louisville KY eliminates all of these risks and provides a fast and easy sale. You won't have to wait around for months or even years for your home to sell - we can close in as little as 7 days. No repairs, no hassle, and no waiting - just cash in your pocket and a stress-free sale with
we buy houses Louisville KY.
