A Fair and Fast Cash Offer: Getting the Best Value for Your Home

What should you consider before choosing to sell your home for cash? These offers make it quicker to close sales since most cash buyers prefer to deal with the seller directly. On most occasions, you won't even need an appraisal, further simplifying the sales process. 

However, these benefits can be accompanied by a sizeable amount of risk due to scrutiny over the legitimacy or fairness of each offer. Favorable market conditions can help you receive multiple bids from home-buying companies, indicating your home will sell fast — but not all offers are "fair" as well as fast. 

So, how do you know if the home-buying company is legitimate? How would you review and select an offer that is the fairest and best value? Read below for help in searching for a suitable and reputable home-buying company!

Research a Home-Buying Company

A cash offer should be fair to both you and the buyer. However, there is a common misconception that you can make more money from cash sales rather than traditional sales. While honest companies want to help you get the most for your home, any professional homebuyer will assess your home, gauge its value, and offer what they think it is worth.

Start with the company website to discover information about them and assess their professionalism. Additionally, you can check if the company has a legitimate street address. If the home-buying company is local to your community in Minneapolis, visiting their offices can help you gain more trust (or rule them out) as worthy cash buyers. 

In addition, look for the company's previous projects and reviews. An experienced company will research marketing trends, interest rates, your home condition, and more to deliver the best offer for you. 

Analyze the Housing Market 

Supply and demand in the housing market play a crucial role in the cash offer you will get for your home. If there is a high demand for houses at the time of selling, you could command a higher listing price that matches market demand. When demand is high, you should raise your asking price if a cash buyer offers something too low. 

On the other hand, if the market is low, perhaps due to a macroeconomic crisis or low demand, you should expect low-price offers. Market research remains critical as a cash buyer can take advantage of low market seasons to buy houses at "throwaway" prices. 

If you understand the conditions, you are better equipped to recognize a low offer when your house should receive a better one. 

Consider the Condition of Your Home

Even when the market is ideal for sellers, the condition of your home is also a crucial factor to consider in weighing the fairness of your offers. Professional buyers will assess the fair market value of the property as part of their research and offer.

Keep in mind: if you are selling your home in as-is condition and don't plan to make repairs, the cash offers might also be lower because the buyer's price has to factor in their costs to repair before reselling the home or operating it as a rental property.

It is also important to note that a fast cash offer that sounds too good to be true should also make you question the buyer's legitimacy. Read the fine print of the purchase agreement and make sure you're buying from a reputable company that deals honestly (even after purchasing your property).
 

Homefield Homebuyers are Fair, Fast, and Local in Minneapolis

Sell your home to a buyer who will give you a fair offer! At Homefield, we professionally assess the value of your home and make offers that match it. We are also quick to respond to inquiries, when we make our offers, and when closing on the property. In many cases, we can help you close sales in two weeks. Additionally, we pay cash and therefore do not require appraisals or lengthy inspection processes to prolong the purchase process. 

If you are looking to sell your house, contact the team at Homefield Homebuyers. You'll receive a cash offer within 48 hours, or we will pay you $100.