Being a homeowner is a responsibility because you need to take care of your investment. However, there will come a time when your house doesn’t suit your needs anymore, so you’ll need to sell it. Conversely, selling a house isn’t easy because it’s a long process. Luckily, many cash home buyers will gladly take your home off your hands.
Cash home buyers are precisely what they sound like: buyers who purchase a property in cash upfront. They’re willing to pay for your house in full so that you can receive a lump sum of cash and no longer have to worry about it. However, this sounds too good to be true for most people, so they pass on the opportunity. While you have a right to be doubtful, the good news is that there are specific questions that you can ask cash homebuyers to guarantee the deal. These include:
#1 – Can Your Former Clients Vouch for Your Work?
As the seller, you’re naturally skeptical of the offer you receive from cash buyers. While you could have some doubts, you can confirm whether or not the company is trustworthy by speaking with their previous clients. While this isn’t a guarantee that everything will be fine, it will help you decide because you’ll feel more comfortable about your decision.
Alternatively, if you’re not able to speak with previous clients, you can call your local Better Business Bureau to find out if they’ve received complaints about the company. If they have, you should steer clear of them. You should only work with those with a solid reputation because you could lose your home and your money if they don’t.
#2 – Can You Show Your Proof of Funds?
Since cash buyers are willing to pay cash, you have to be sure that they have the money to do so. Even though they’re offering to buy your house in cash, they have to prove that they have the funds available. If you show them proof of your funds, they’ll have to show you their evidence, so they won’t be able to pull a fast one on you.
It’s also worth noting that you should only work with cash buyers who have a proven track record of selling homes. For example, those who have excellent customer service, are licensed and reputable, and are accredited by the Better Business Bureau need to prove that they have the funds available. If they can’t back up their claims, you need to walk away.
#3 – Is a Comprehensive Home Inspection Needed?
If you’re selling your home, you must request a comprehensive home inspection to ensure that the cash buyers will pay you for everything included in the house. In other words, you need to make sure that everything works properly and nothing is broken before you’ve agreed to the sale.
If any issues need to be addressed, cash buyers will have to wait until they’ve been fixed. While this is worth the hassle, you need to know that you might have to fork over additional money to resolve specific issues.
#4 – Are Repairs Required?
Cash buyers will order an inspection to ensure that your home complies with their requirements. This means that they could notice that some repairs are needed that you might not know about. Therefore, it’s worth asking if any repairs are required to ensure you’re not paying more than you have to.
If you’re concerned about repairs, it’s not wrong to check with your bank to see if they’ll give you a loan to pay for them. If you do, you should let the cash buyers know, and they’ll consider this when they’re making an offer.
#5 – When Is the Soonest You Can Provide an Offer?
You also need to know when the cash buyers can make an offer. If you can’t accommodate them, you should only work with those who can provide an offer within a week or two. The longer you wait, the more time you’ll have to think about your decision, and the more likely you’ll be to change your mind. Therefore, time is of the essence, so you should only work with cash buyers who can make an offer as soon as possible.
#6 – Will I Remain on the Property?
You can’t exactly move out as soon as possible when closing the deal, so you’ll need to know when you’ll need to move out. Ideally, you want to be able to move out before the deal closes so that you don’t have to worry about continuing to pay rent or delaying the closing.
In addition, you want to know whether or not you can continue living in your home while the deal is being finalized. For example, you might have to have repairs done while they’re finishing the deal. If this is the case, you should discuss it with them before signing anything with them.
It’s up to you to decide whether or not you want to sell your home to a cash buyer. However, if you’re going to sell your house to one, you need to make sure that you ask these questions to determine if you’re going to work with them. You shouldn’t feel pressured to work with cash buyers because they’re eager to buy your home.
If you’re looking for cash home buyers in Conroe, Montgomery County Cash Offer can help you! We buy properties in cash for fair market value, and we work fast to ensure that no time is wasted for us and the sellers we work with. Simply go to our website to request an offer!