Reasons to Opt for A House Buying Company
Reasons to Opt for a House Buying Company
In today’s day and age, house sellers have a multitude of options available to them. They may decide to sell their house themselves, use a real estate agent, or they may go to a house buying company.
You must have seen the advertisements saying ‘we buy houses in San Diego’ or ‘sell your house fast in San Diego’. If you’ve been wondering why you should choose a house buying company over the traditional house-selling route, below are a few situations where a ‘we buy houses’ company may come in handy.
1. Avoiding foreclosure
Nobody buys a home with the intention of defaulting on their mortgage payments. If you find yourself on the slippery slope to foreclosure, you do have some options. As long as you take action early enough by liquidating assets or restructuring your payment scheme, you should be okay.
However, there are times when you simply cannot avoid the issue. You see it coming, you try your best to avoid it, but there’s nothing you can do and it hits you hard.
In case you’re in such a situation, you need to sit back and take stock. Find out whether your house is worth more than what you owe. If that’s the case, then you absolutely should go for a house buying company.
Remember that if your house goes to auction, you get no money and your credit rating takes a huge hit. You’d rather sell your house quickly and pay off what you owe.
Talking about speed, house buying companies are famous for their speed. Since they are essentially private buyers, they don’t need to go through the bureaucratic process that the traditional home-selling route entails. If you’re working with the right company, you could get your money in less than a week!
2. Inheriting a house
Inheriting property can be a blessing or a curse. It’s an emotional situation, and a divisive will may add fuel to the fire by funnelling tension and bad blood. You might simply want to get rid of the property as soon as possible.
Moreover, you may simply lack the time to go through the entire process of selling the house. Especially if you’ve inherited a house on the other side of the country, you can’t be expected to make dozens of trips to and fro the inherited house just to sell it.
In such cases, a ‘we buy houses’ company can be hugely beneficial to you. Depending on the company you choose, you may be able to sell the house without making even a single trip. Some companies will even help you move any belongings that have been left in the house.
Of course, this will open you up to the risk of fraud, so do your research before selecting a house buying company. Look for online reviews or, better still, contact a friend who has used such a company before and ask him for a recommendation.
Sometimes, you have to move as soon as possible. Maybe you’ve gotten a job opportunity in a different city and you need to start next week. Or maybe you work in the military and you’ve been stationed overseas while you’re in the middle of renovating a house. In both of these cases, you a house buying company is your best bet.
A good ‘we buy houses’ company will have professionals who will walk you through the entire process and will even offer to help you out in your relocation.
4. Major repairs
If you’re selling your house through an agent, you’ll get a huge list of repairs that you’ll have to do before listing the house. Making all those repairs is not only a costly affair, but it is also extremely time-consuming. Moreover, you’ll still have no guarantee that a buyer will actually like your house and will buy it.
If you want to sell your house but don’t think you can sell it without undertaking major renovations, a ‘we buy houses’ company is probably your best bet.
Such companies buy houses ‘as is’, which means that you don’t have to worry about the cracked tiles or the dated plumbing system. Many companies have an in-house construction division that deals with renovation. If you think that your house is ugly or you think you’ll have to spend too much on renovating it, you know what to do.
Many such companies also try to deal with the minor issues so you can focus on the major aspects of relocation. For example, many companies will ensure that you don’t have to deal with the stress of decluttering. You simply have to take what you want, and the company will get rid of your junk for you.
5. Bad tenants
Being a landlord is not an easy job. Especially if you don’t live in the area where your rental property is, you may be suffering sleepless nights due to bad tenants or other property-related issues. If you’re sick and tired of dealing with tenants, constantly repairing your house, or you’re simply too tired to put in the effort any longer, you should think about a ‘we buy houses’ company.
The company will take care of all the paperwork and legal issues, and you don’t even need to be in the same region as the house. Once again, this may open you up to the risk of fraud, so take great care – don’t just jump into a transaction with any company.
Rental properties tend to get worn out over time, but if you choose to deal with a house buying company, you won’t have to worry about that since it will buy your house ‘as is’. Moreover, the company will help you deal with any stubborn tenants. Some companies even assist evicted tenants by providing them with resources in the region.
In conclusion, we can say that a ‘we buy houses’ company is essential for anybody who needs to offload a house quickly. They can save a tremendous amount of time and trouble, simplifying what can be a complicated process and making it as simple as placing a phone call. So, if you’ve been wondering, ‘How do I sell my house quickly in San Diego?’ or ‘Who will buy my house fast in San Diego?’, choosing a house buying company is probably the best move you can make.