You probably have heard or have seen commercials on TV about companies that will buy your home “as is” for cash and wonder if these companies are legitimate. The short answer is “yes.”
These companies are typically investors looking to purchase homes to either fix up and flip or, to rent. They will always offer you cash for your home and will purchase it as is with no repairs.
They also say there is no real estate commission that will need to be paid. So, to a consumer it sounds like a fantastic deal. Unfortunately, there’s always a downside to any offer. They will offer you a substantially lower than market value for your home.
They are in the business of making money and will have to purchase the home for substantially less in order to fix it up and resell it. They aren’t doing anything wrong or illegal – it is completely up to you whether or not you accept the offer. However, if you’re looking to maximize every dollar out of your home, you should also consult with a real estate agent and see what they have to offer. In the current market, homes are selling for top dollar even though they need work.
You can market your home “as is” by disclosing to buyers that you will not make any repairs. A perspective buyer can do a home inspection and either take the home or walk away.
By dealing with a real estate agent, you’re almost guaranteed to make a lot more money even after paying commissions and fees. Also, you have the benefit of a real estate professional on your side handling the transaction and representing your best interests.
I can almost guarantee you will net more money by using a real estate agent. If you have any questions or comments, please feel free to call me directly at 215-630-9363. www.josephcairo.com.
PHOTO CAP: Joe Cairo