JUST WHAT DO THE “WE BUY HOUSES” COMPANIES DO?
The housing market can be daunting to tackle on your own when you’re considering selling your home. Typically, most people consult a real estate professional to assist them in listing their house for sale. There are cases, however, when people opt to sell their homes to people other than those from a traditional real estate company.
Perhaps you’ve spotted the advertising methods of this unique approach to house sales. They often consist of a simple sign nailed to a telephone pole that sports the hand-crafted message: “We Buy Houses”, followed by a telephone number. But WHO is offering to buy houses, and more importantly, WHY?
Who Are Those Offering to Buy Houses?
The individuals or companies like GM Home that offer to buy houses are often known as wholesalers, or equity purchasing companies. The companies that put up the signs you’ve seen are looking to either turn around and sell the house to a larger real estate investor or are those that wish to flip them. In the case of flipping a house, the “We Buy Houses” company makes the needed repairs or upgrades to the house, then attempts to sell it for a larger amount than they paid for it. We earn a profit for our work, just as you earn a profit from your sale. Everyone benefits in this scenario.
The signs can represent a single individual, or an entire company, and are purposefully direct and straightforward: if you are thinking about selling your house, call us! It’s that simple. We want buyers to feel comfortable contacting us with a phone call, because they are often people who choose to sell their homes due to circumstances (financial, personal, or otherwise) that are beyond their control. They are reassured by the professional and confidential service that we provide.
Just Who Are These We Buy Houses Signs Meant For?
Though any homeowner is a potential candidate for GM Home’s services, most are those looking to sell quickly and easily, without the hassle of a prolonged viewing and contracting process.
The drive to sell could be due to a large mortgage that you can no longer afford to pay. It could also be due to a divorce, medical issues, or a variety of financial problems that leave you with little options but to try and sell off any worthwhile collateral you have. The largest asset most people have is their house, and those in need of cash can greatly benefit from working with an experienced, professional team like you will find at GM Home.
These transactions typically occur efficiently, so anyone that needs to sell their home fast can greatly benefit from our services. The idea of being paid in cash for a home is appealing to those in financial distress. Additionally, homeowners facing circumstances such as bank foreclosure might choose to seek immediate relief in a quick sale rather than face the painful decline of a prolonged foreclosure process.
How Does Companies like GM Home Buy Houses?
Once a potential customer calls a company like GM Home, they are asked a series of questions regarding the current status of their house. The purpose behind the questioning is to gauge what the house is worth, how much money is left on the customer’s current mortgage, and the potential cost of any repairs that might need to be done in order to resell the house competitively.
Why Using GM Homes Is Beneficial to You
There are several benefits to using GM Home that outweigh any potential drawbacks. There are many intricacies involved with the sale of a house; so working with a traditional real estate company is typically a long, drawn-out process. When you list your house with a traditional real estate company, you automatically obligate yourself to multiple house showings, prolonged bid comparisons, and a lengthy contract process. In addition to that stress, many initial buyer offers often fall through due to the buyer having difficulty securing a mortgage. The sale of an average home that is listed with a real estate company usually takes many months to complete, and sometimes even longer.
An Expedient Selling Process
In contrast, working with GM Homes simplifies the entire process, from beginning to end. What typically takes months is condensed into a matter of weeks, or even days, which saves you, the seller, a tremendous amount of both time and stress.
Let’s say that circumstances force you to have to move quickly due to a family illness, or an employment relocation. Instead of attempting to navigate the sale of your house from a distance, GM Homes offers a cash deal quickly, often within a day or two after the initial contact. There’s no need to wait for the bidding war to begin, and the interminable closing process.
You Can Sell Your House Regardless of Condition
Many traditional real estate companies are skeptical of selling homes that are in less than pristine condition, which makes potential sellers fearful to try and list a house that does not meet that criteria. At GM Home, we are capable of seeing the diamond in the rough and are ready to purchase homes that might be in need of cosmetic repair. Imagine the relief of knowing that your house could still be sold in it’s current “as is” condition!
The Price Is Right
While selling with a traditional real estate company might eventually net you a profit on your house’s sale, the agent that assists you takes a percentage of that profit. The typical commission rate in the Philadelphia area averages 6 percent. You also end up having to wait a considerable amount of time before you reap that much-needed financial boost. For those that need money quickly and are looking to sell, the assistance of GM Home can be a godsend. You could receive the cash value of your home in as soon as seven days following the sale. There are also zero closing costs associated with the sale, which increases your profit.
So. while there are many “We Buy Houses” companies out there, GM Home, with a combined 30+ years of experience in all aspects of the real estate market, is both reputable and fair. We care about your wants and needs and do whatever it takes to ensure happy customers. Contact us today through our web site, email, or give us a call at (215) 458-5867 to learn just what your house is worth!