Published September 12, 2022. Updated July 21, 2023.
Are you ready to sell your Minnesota home but dreading scrubbing every nook and cranny? Or perhaps you want to avoid the drawn-out paperwork, speed up the process, and spend less time on open houses?
More and more sellers are considering a fast cash offer from a local home-buying company to sell their home quickly and effectively.
However, before you make the big decision, read this blog to discover the pros and cons of going through a home-buying company, plus a simple way to work with Homefield Homebuyers as we buy houses fast with a fair cash offer.
Let's look at some benefits of selling your property to a home-buying company to see if it is the right call for you!
By soliciting multiple offers from competing companies that buy houses for cash, you may be able to drive up the offer price and earn more cash when you sell the property.
Like the standard sales process, you leverage the market forces in your favor by building competition. In addition, you may receive more in a seller's market as the cash offers vary depending on the market climate.
One of the most significant advantages of selling to a home-buying company is the opportunity to sell the property as-is.
While many sellers may have to invest in cleaning, cosmetic updates, and any last-minute repairs, homebuying companies will generally purchase properties even if they are in poorer condition.
Preparing the property for showings and vacating can be another frustrating and costly process. Home staging (making the house presentable for viewings) is an additional step that can quickly add up cost and time.
However, when selling to a home-buying company, the showing stage is completely cut out! This is especially beneficial for those needing to relocate quickly or who have inherited a property they wish to get rid of.
Fast Closing and Payout
Home-buying companies generally offer both flexibility and speed when closing on the sale of your property. Some companies offer to close in as little as seven days!
For example, if you're looking to "sell house fast in the Twin Cities" at Homefield Homebuyers, we can close the title anywhere between seven to seventy days!
Of course, there are some potential drawbacks to selling your house for cash. Let's take a look at some of those below.
Due to the quicker process and no fees or commissions, you will likely get a lower cash offer than what would otherwise be offered through the traditional listing process.
Even if you are considering selling to a home-buying company, we recommend you undertake an appraisal to determine how much your house is worth to get a fair price. In addition, review all terms carefully and discover if there is room for negotiation in the process.
As a final point, before you sell your house, weigh any outstanding costs and debts, such as the balance on the mortgage, to determine if the cash offered will be enough to pay it off.
You may still need to research and solicit bids from several home-buying companies to increase your selling price.
Generally, any company that advertises "we buy houses fast" should be able to give you a short range. So, for example, an iBuyer (instant buyer) can offer an immediate automated valuation of your property to work with.
While most "we buy houses for cash" companies are legitimate, it's essential to understand that some are not.
There are undoubtedly predatory companies out there that may be taking advantage of the financial hardship of sellers. An early warning sign to look out for is companies that offer to buy your house at 100% market value, as this is often too good to be true.
Another important step when choosing a trustworthy cash buyer company is verifying proof of funds and clearly outlining fee terms. A reputable company should be well-funded and cover fees like closing costs.
You might think the idea of selling your home to one of "those" "sell my house fast" companies is a less-than-ideal way to sell a home. However, you might be surprised at how many types of homeowners choose this option for the simplicity, speed, and guarantee of cash-in-hand!
You don't have to be in a challenging situation (like facing foreclosure) or have a distressed property to consider cash offers from reputable buyers. Many homeowners simply prefer to skip the process of home repairs and upgrades to make their house competitive, finding a good real estate agent, listing the house, then dealing with showings, buyers, and offers to sell it.
So, if simplicity and speed are two things you prefer vs. a lengthy, stressful home-selling process, our team is here to help! We buy homes in all conditions from sellers in all situations.
At Homefield Homebuyers, a simple online search for "we buy houses cash Minneapolis" leads you to our team to take care of the process in four easy steps.
When you're ready, enlist in the Homefield Homebuyers process. We'll take some critical information from you before visiting the property.
We'll prepare an as-is and fair cash offer within 24 hours of seeing the property.
We'll set a closing date that's convenient for you.
We'll stand by our word and never charge closing costs.
We're committed to a fast and fair process to get you the most cash for your home!
Selling your house to a cash home buyer can help you sell quicker, with less legal administration and no housing preparation. Remember to use the steps above to determine what's best for you and your financial and personal circumstances.
If you're ready to accept a cash offer or are interested in learning more about how the process works, reach out to Homefield Homebuyers today. Our local team will help you every step of the way! Click the button below to connect with us.