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What are the Pros and Cons of using a We Buy Houses Company in Grand Rapids?

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The old saying in real estate is “location, location, location”, but who you sell your property to in Grand Rapids, MI is just as important as where your property is located. A We Buy Houses company can check a lot of boxes, but are they right for you?

Though there are lots of options out there for homeowners ready to sell their house, considerations about what the right kind of buyer is the best fit for you are significant. Real estate investors, individual families, independent cash buyers, and brokered real estate agent deals are all possible buyers. Though a We Buy Houses company can give you a quick sell, you’ll still want to know as much as you can about them.

We Buy Houses vs. all cash offers

If you need to sell your house fast in Grand Rapids or the surrounding areas, you’ll want to do your research so that you understand the difference between a We Buy Houses company in Grand Rapids and a cash offer. 

A “quick cash, buy fast” option is not quite like an all-cash offer that you might get from listing your house with a real estate agent.  We Buy Houses in Grand Rapids constitute something different than an all-cash offer from an independent buyer. 

cash offer for a house in Grand Rapids, MI

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The closing date for property owners is sooner than with traditional bank financing for either We Buy houses companies or cash offers. Your house Grand Rapids will get a no obligation cash offer fast.

The major difference here is that a We Buy Houses company is just that – a company. We Buy Houses companies are generally run by professional investors and real estate investors whose primary means of making money is flipping houses. They can pay cash for homes because they have experience in this field and invest in homes in Grand Rapids as part of their primary livelihood. They aren’t buying houses to live in, but rather they’re buying houses to turn over. 

Buying a house with cash gives real estate investors the leverage they need to turn a house around fast. The speed with which they do these transactions gives them a volume that allows them to make a significant amount of money. Fast equals profitable. It’s really that simple. 

How fast do houses in Grand Rapids sell?

Unlike selling through a real estate agent, houses in Grand Rapids can be sold fast without agent fees. Getting a house quickly up and on the market will immediately attract a whole host of people who buy houses in Grand Rapids. The whole process could take just a few weeks.

These companies work differently than what home owners might be used to. There’s usually a quick form to fill out online. This will include the street address as well as property information. This short property information form gives property owners the chance to share just the basics.

Once that whole process gets rolling, someone from the company will call to get more information. If they’re interested, they’ll make arrangements to come out to the property address.

Without the issue of traditional bank financing, your MI house can be sold quickly. You can sell your house fast, even in as little as seven days. That fast turnaround time is why houses Grand Rapids, MI are so tempting for investors. It’s all about the numbers. when a company can buy a house fast, they can then get on to getting their cash and keeping their business going.

Whatever offer is made is a no obligation cash offer. The timeline can be drawn out based on the needs of the homeowner.

Consider your circumstances

divorce in Grand Rapids, MI

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The reason to sell your home for cash fast is that there are circumstances in your life that are pushing you to get out from under your mortgage. What’s going on in your life could mean you need to get your home sold quickly. 

Divorce
Death of a loved one
– Tax burden
– Job loss
– Health problems
– Vacant house
– Fire damaged home
– Owe liens
– Bad rental tenants

If you need to get rid of burdensome houses fast, whether it’s because of an issue with a family member or because of bad rental tenants, that’s a significant part of your circumstances. When it’s important to sell your house as is for a fair offer, there are real estate solutions out there. It’s just a matter of finding them.

Unwanted property can happen for any number of circumstances. Selling an unwanted property or your houses Grand Rapids can be a time consuming expense, too. The best way to get cash quickly and avoid an agent’s expensive fees is to find a cash buyer. That can be in the form of a We Buy Houses company or it can be an independent buyer in Southwest Michigan.

You can sell your house fast in Kent County. The entire process should feel geared towards helping homeowners and making their life easier. Any property simply offers an opportunity for an investment firm or an independent buyer. Your circumstances are all you should worry about.

Tradeoffs in selling to a We Buy Houses company

When you sell your home fast for cash, you’re trading speed and ease for price. 

There’s little doubt that you’ll get a lower price if you sell to a we buy houses company in Grand Rapids, MI. You will not get the same high price that you would if you sold your home for market value on the open market. 

Though the price is most certainly going to be lower if you sell to a We Buy Houses company in Grand Rapids, these companies will buy your home as is. That’s a great deal if you need to sell your property without the hassle of paying for home repairs or waiting around for those repairs to be completed. 

Another positive point about selling your Grand Rapids property to a We Buy Houses company is that you avoid real estate commissions. Real estate agents take a significant amount for their commission. Look for a real estate agent to take around 5.5% in commission. That’s $16,500 on a $300,000 home. If you’re thinking about selling to a We Buy Houses company in Michigan, avoiding that commission alone is a compelling reason to explore this option.

Cons:

Pros:

  • Fast sale of your property
  • Quick cash influx at closing
  • Repairs don’t need to be made
  • No staging
  • Avoid commissions
  • Confident closing date
  • Extremely easy and simple process

Note that sometimes there are still closing costs associated with selling to a We Buy Houses company. Make sure that you’re upfront about what those are and that you’re comfortable with them. 

We Buy Houses scams to watch out for

Be careful and educate yourself about We Buy Houses companies before you buy. 

The first thing to watch out for is the lack of a strong web presence. The company should have a large, detailed website that will give you lots of information. You should also have access to testimonials from past customers. 

Positive reviews online are a big selling point. Make sure you explore the online footprint of any We Buy Houses company that you’re working with. 

Hands down, the best way to prevent getting scammed when you sell you home is to never send any potential buyer any money. The only cash that should change hands is at the closing table. If someone sends you an email asking for cash in order to buy your house, that is a scam. 

One way to ensure that you’re getting a fair shake is to request a proof of funds document. This comes from a bank and tells you that the We Buy Houses company in Grand Rapids, MI has the money to buy your house for cash. This way, you know for certain that you won’t be hit with any surprises at the closing table. 

Speaking of the closing table, that’s the only point of no return. At any point in the process, a buyer or a seller can walk away. If you feel something is off, then it’s ok to pause or walk away from the deal. 

Follow your instincts

trust your instincts when selling your house in Grand Rapids

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The question of whether you should sell to a We Buy Houses company in Grand Rapids is not one that you have to answer instantly. 

Do your research and understand what you’re getting yourself into. There are plenty of resources online, and you’ll always be able to find some information about a company through a little bit of digging. Talk to the home investors at the company, and allow them to earn your trust. Transparency is the name of the game. 

Though the model of a We Buy Houses company is to flip houses over fast for cash and to move to a quick closing, that speed should never equal pressure on you. This is a seller’s market, and the homeowner in Grand Rapids, MI has all of the leverage in the process. If you feel that a sale is going too fast or that you aren’t comfortable with the terms of sale, put on the breaks or walk away.