The home cash buying business has been around for hundreds if not thousands of years, but it has really blossomed over the last 30 years.

Home sellers are turning more and more to home cash buyers, many to overcome a problem but a growing number of sellers are not distressed but find the hassle-free sale process offered by companies that buy houses an appealing alternative.

The “we buy homes for cash” businesses have managed to survive many crunches, including the recent 2010 foreclosure crisis. At the height of the problem, the US government watched nervously as thousands of Americans lost their properties. Empty homes blighted neighborhoods across the country, their yards overgrown and their shades are drawn.

This is when many of the home cash buyers stepped in and helped resolve the problem as well as generating much-needed economic activity. By 2017, investors and companies that buy houses for cash had infused over $36 billion into the housing market when they purchased more than 200,000 homes across the US. This helped some of the country’s worst-hit property markets to stabilize.

But the transformation did not end there, these same companies, like OutFactors, established cash for home programs designed around the needs of the average homeowner. Their plan was simple, to make it faster, easier, and hassle-free for a person to sell their home at a very competitive price. The quick home buyer programs now catered to everyone, not just the distressed sellers. Which makes sense, if you are a home seller and can get a fast, free, no-obligation offer in 1 day by answering a few simple questions, why wouldn’t you at least get some cash for house offers? Home sellers understand they have nothing to lose by requesting an offer and potentially a lot to gain. And when they get an offer and crunch the numbers, they are often surprised that they can get the same amount of net cash selling to a home cash buyer.

Pros of Selling to Companies that Buy Houses

Companies that offer cash for houses present several appealing advantages to people who want to sell their homes. Here are just a few of them:

Simplicity: You don’t have to spend money and time on preparing, staging, and selling the home. There is no need for photographs, virtual tours, open houses, the need to clean the property, and the weeks of back and forth consultations with a realtor.

The process is free of high closing costs, and you won’t need a realtor. Thus, no realtor commissions which can save the seller tens of thousands.

Save Time: Traditional methods of home selling can take months. If the property needs serious renovations, it can take even years to sell. However, a “we buy homes for cash” buyer makes selling easy and very fast. Often, the closing is in 10 days or less.

No Loan Approval: In traditional property sales, the buyers must be approved for loans. If the lender has declined the loan, your dreams of getting the cash you direly need crumple down. This never happens when you are working with a cash for home company, like OutFactors! When you sell to companies that buy houses for cash, you will have closed and received the cash you need before a typical buyer even knows if their loan will be approved – it is that fast.

Sell House As-Is: One of the biggest advantages of selling to companies that buy homes for cash is the sale is on an as-is basis—they will never ask you to make repairs or upgrades. You can “sell house as-is” when you sell your home to a home cash buyer.

The best part, offers are fast & free so you have absolutely nothing to lose and everything to gain by getting an offer, or even several offers!

Cons of Selling to Companies that Buy Houses

While many home cash buyers programs have some great features, there are a few things you need to be aware of. Knowing some of the disadvantages can help you make informed decisions on whether selling to a cash for house buyer is right for you.

Value Proposition: Most companies that buy houses for cash will discount the price they offer to compensate for the money, time, and effort it will take to repair the home and resell it. This makes sense, but the amount of the discount is what matters. To overcome this and ensure you get the highest cash price for your home, we recommend you get offers from several companies that buy houses for cash. Crunch the numbers then, and see if it makes sense to sell house as-is.

Since companies that buy houses for cash offer fast and free no-obligation offers, you have nothing to lose by getting multiple offers except for a little time!

Home-seller Beware: Just like every industry, the cash for home buyer sector is largely dominated by reputable and honest home buying companies, but there are a few rotten apples too. It is not hard to avoid these rotten apples, but you do need to do a little research and ask the right questions. You want to work with a company that has been in business for 10+ years, that is BBB accredited with an A rating, has a prominent online presence, and preferably a local company.

Non-standard Contracts:  A few companies, including some prominent national companies, use non-standard purchase contracts or addendums that are filled with legalese that favor the buyer. This potential problem is also easily avoided. You can either hire an attorney to represent you or only sell to a local company that puts everything in writing using easy-to-read standard contract forms, like OutFactors.