Selling a home is usually a lengthy process, lasting about two months depending on market conditions. But when the market is hot, as it is in parts of Central Florida, the timeline to sell can be faster. For example, as of April 2023, the average time for a home to reach pending status in Orlando was 13 days. But there is still a lot of pre-work to get a home ready to sell, even with shorter sale times.
If you need to sell your home fast, there are ways to eliminate some of the steps and get the job done faster. One of the best strategies is to cut down on the time it takes to make repairs, pass inspections, and get through the negotiations that will lead to a final sale, by selling a house ‘as-is.’ This option isn’t for everyone as you are most likely to get less for your home at sale time, however if you do want to go that route, We Buy Houses companies in Central Florida can help.Â
We Buy Houses Companies Defined
When a home is bought for cash, there are a few types of buyers who are likely behind the purchase. There are buyers who want to live in the home and can afford to pay for the home without a mortgage. Then there are companies who buy homes as a business such as iBuyers, fix-and-flip investors, and buy-and-hold investors. iBuyers are instant buyers that you can work with online to sell a house ‘as-is’ such as Redfin Now and Knock. Buy-and-hold investors are less likely to buy a house ‘as-is’ as they tend to look for homes to become rental properties. Fix-and-flip investors are the most likely to buy ‘as is,’ as their business model is to buy homes for under market value and sell them for more.
The Benefits
If you need to sell your home fast ‘as-is’ the benefits of using a We Buy Houses company are clear as you can get the job done quickly with cash in hand. Aside from saving time, the process will also be less complicated with fewer negotiations, communications, and contingencies to consider. You also won’t need to hire a real estate agent or pay commission fees as you can list your house online yourself.
The Drawbacks
We Buy Houses platforms may be convenient, but the solution isn’t for everyone. When you use one of these platforms, whether selling your house ‘as-is’ or after making repairs, you will bring home less money. The convenience of not having to hire a realtor, make repairs, stage your home, and market it, comes at the cost of less money from your sale. Flippers, for example, might offer you 50 or even 70 percent less than a home’s market value. But if you want to move on and not have to worry, then the lower sale price might be worth it.
If you have a home with a lot of wear and tear and you need to sell it fast, We Buy Houses companies are a solution worth considering.Â
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