How We Buy Houses For Cash

You may have the signs on the side of the road saying “We Buy Houses For Cash” or “We Buy Houses Any Condition” and wonder what it’s all about. You may be wondering exactly how does it work.

Who Is Rapid Home Deals and the Companies Like It?

Just who are these companies? Typically they are local companies that want to buy houses that are in need of repairs or updates. Sometimes these are called “ugly houses.”  Why there is even a franchise company, HomeVestors,  that advertises “We Buy Ugly Houses.” We Buy Houses companies buy your property, make the needed repairs and updates, then turn around and sell it to another buyer.  

Typically We Buy Houses companies do pay with cash.. Whatever loans, mortgages or liens you have against the property will be paid out first. Whatever is left, you get, the balance of what was negotiated in the form of a wire transfer to your bank. The nice thing about these companies is that by paying with cash there is no waiting on mortgage approvals, so they have the ability to close in a fraction of the time that it takes with a conventional buyer especially if they are getting a VA, FHA or USDA loan

You may have seen their signs on the side of the road “we buy houses” or “we buy houses any condition”. Before you choose one to do business with one we highly suggest that you research them online first and make sure they are a legitimate company. Rapid Home Deals (CPR Real estate Solutions, LLC) has been doing business in this area for eight years and has helped a lot of people solve their real estate problems. Carl is a licensed Realtor (working on his own behalf) and past President of the Marion County Real Estate Investors Association.

Who Does Rapid Home Deals Serve?

It’s not just outwardly ugly homes or ones that haven’t been updated in 25 years that are considered “ugly.” Sure, those are ugly too, but it’s much more than that. We also deal with foundation issues, maintenance that has been put off for years, divorce, probate, estate liquidation, undesirable neighborhoods, or relocation to another job or to an assisted living facility.

We also buy homes when the mortgage financing isn’t ideal, perhaps because of a high interest rate and the inability to refinance, or an adjustable-rate mortgage that becomes too expensive. Someone facing the prospect of foreclosure could also be considered the owner of an “ugly home.” We buy homes with problematic renters as well. These homes may not need a lot of repairs and updates but in these cases the seller is distressed and not the property.

We also buy houses with water damage, termites, roof damage, or simply those that have been neglected or aged terribly.

Who Does Rapid Home Deals Serve?

 It’s not just outwardly ugly homes or ones that haven’t been updated in 25 years that are considered “ugly.” Sure, those are ugly too, but it’s much more than that. We also deal with foundation issues, maintenance that has been put off for years, divorce, probate, estate liquidation, undesirable neighborhoods, or relocation to another job or to an assisted living facility.

We also buy homes when the mortgage financing isn’t ideal, perhaps because of a high interest rate and the inability to refinance, or an adjustable-rate mortgage that becomes too expensive. Someone facing the prospect of foreclosure could also be considered the owner of an “ugly home.” We also buy homes with problematic renters. These homes may not need a lot of repairs and updates but in these cases the seller is distressed and not the property.

We also buy houses with water damage, termites, roof damage, or simply those that have been neglected or aged terribly.

How Rapid Home Deals Work?

It is fairly straightforward.

  1. You call us.
  2. We look at the house and then finish our research.
  3. We make several offers for you to choose from
  4. You accept one of the offers and tell us what day you want to close
  5. We take the paper work to the Title company to begin the closing process and arrange funding from our private lenders.
  6. The Title company wires you the money the day you picked for closing.

We buy the house as is with no repairs and no commissions and we pay closing costs on all cash offers. So the upside here is that if you need/want to sell your home ASAP, you might be able to with a professional home buyer like Rapid Home Deals with little or no work and no lost time.

Pros And Cons Of Using Rapid Home Deals

It’s important to note that there are some real pros and cons to selling your property this way

Pros

We  provide a useful service for homeowners who need to unlock cash in a hurry.

For example to:

  • Avoid repossession, clear debts or sort out financial issues
  • Dispose of inherited property
  • Move for age or health related reasons
  • Sell as a result of divorce or relationship breakdown
  • Relocate due to a change of job or to emigrate
  • Try a different route if unable to sell through a traditional estate agent – get around issues that have made a property hard to sell, for example with a short lease or if a property has a high risk of flooding

Cons

  • Some companies agree to buy a house, but then reduce the price at the very last minute. We don’t play games. Our offer is our offer. But our cash offers will be slightly less than what you would clear if a Realtor sold it after closing costs and commissions are taken out. Essentially you are paying for a speedy sale.
  • Fee structures are not always made clear to the customer. We make sure you understand what you are getting and when.
  • Some companies make false property valuations. Really? We aren’t going to lie to you. We want to stay in business for the long haul.
  • Some contracts tie customers in, preventing them from selling to anyone else who might come along with a better offer. Well that is the law. Once you sign a purchase agreement with Rapid Home Deals we expect both parties to fulfill the agreement.

Conclusions

Selling your house to one of these companies may be of interest to you, especially if you haven’t kept up with repairs and maintenance. Most “we buy houses for cash” companies are legit. However there are a few out there that give the industry a bad rap. Just make sure you know who you are dealing with. Research them and Rapid Home Deals on the web and make sure they have an established presence and no bad reviews.

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

What Do You Have To Lose? Get Started Now...

  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *