June 9, 2018
If you keep seeing signs and ads for “We Buy Houses For Cash In Atlanta“, it’s probably got you wondering how in the heck are people paying cash for houses? I mean, most of us have to get financing to get a used car and these guys are dropping $200k on each house, multiple times a month..
How Do We Buy Houses Companies Work?
Buyers from the We Buy Houses companies seek out distressed sellers who may be interested in selling their house below market value in exchange for an expedited and hassle-free selling process. When a seller indicates interest in selling their home fast in Atlanta for cash, they’ll work with the We Buy Houses company to arrange a time for the buyer to see the property. The buyer will estimate the value of the home and create a no-obligation offer for cash. If the seller agrees to the offer, the buyer will then prepare a buyer’s contract without having to involve real estate brokers or commissions.
With Breyer Home Buyers, there’s no pressure to sell your house fast in Atlanta with us. We aren’t pushy salespeople and we don’t work with everyone we meet. Houses must meet our criteria for us to buy them. Check out how Breyer Home Buyers works.
If you are interested in a no-obligation cash offer on your property, fill out the form below or give us a text or call at (770) 744-0724.
We Buy Houses In Atlanta.. Where Do They Get Their Money?
House Buying companies are in the business of flipping homes, which means that they should have done enough business previously to have enough cash in their account to purchase the home. Reputable companies are rolling income into more properties to scale out their operations and flip more houses.
As with any industry, there will always be scams and people that are looking to take advantage of you and your family.. If you’re looking to sell your house fast for cash in Atlanta, Georgia, it’s important to know which companies are looking out for your best interest and operating ethically. Trustworthy We Buy Houses In Atlanta companies use cash that they already have sitting in their account to buy a seller’s home. This cash is often the proceeds from previous properties they’ve flipped.
The company may also have received a Hard Money Loan, which is a loan based on an asset. With Hard Money Loans, the loan is based on a piece of property being used as collateral rather than other factors like a credit score. The cash that the company uses to buy homes may also be from Angel Investors who have chosen to invest in the company. An Angel Investor will invest in a company that they deem to be profitable; the company continually has satisfied customers and is bringing in consistent business. There’s many types of loans that these companies use to acquire properties.
Sometimes, We Buy Houses companies like Breyer Home Buyers will also partner with other investors to close on a property. If we partner with someone to hold the house as a rental property or we are partnering on a flip, then we will bring them into the deal upfront and use their funds to purchase the property.
Investors typically forego the traditional means of funding through a bank. In addition to using our own cash on properties we want to buy for ourselves soley, we rely on partnerships and relationship money to buy extra properties.
We Buy Houses In Atlanta.. Are They A Scam?
Smart people get tricked into We Buy Houses scams in Georgia all the time, which is why it’s important to do research beforehand and know which questions to ask the company looking to purchase your property. When you first see a “We Buy Houses For Cash In Atlanta” or “I Buy Houses In Atlanta” sign, you should look to see if there is a company name on the sign. If the sign only has a phone number, chances are it’s a shady practice. Many of these numbers are actually routed through Google Voice or other services that make them untraceable. These are normally just people jumping into real estate investing for a quick dollar. You don’t want to be their quick buck. You want a long term, reputable company that has experience in handling your situation.
If they do have a company name, you should be able to easily access client reviews and testimonials when you look them up online. If a business has nothing to hide, you should be able to find information about the business owner and their business with previous clients. Check their reviews and see if anyone has had a situation similar to yours. This will tell you if the We Buy Houses company has solved similar situations before.
Are you still not sure if you’ll be able to tell a legitimate business from a sketchy one? In real estate, social proof goes a long way. If a company has been doing deals for a long period of time, you’ll be able to find reviews online. Most reputable We Buy Houses companies will have been featured in various media outlets.
The company’s website should have client reviews and testimonials on their websites, although you have to remember that these reviews are sometimes bias as they are chosen by the company. If the business pops up on Google search with a valid address, there should also be numerous reviews of the company through Google. Looking at a company’s Facebook page is a great way to gage how much business they’ve done, and whether or not most business interactions have been positive. Social media sites like Facebook, Twitter, and LinkedIn are great for getting honest reactions and reviews from customers.
If you’re unable to find any information about a company online, it’s possible that they’re running a scam that is illegal and untraceable. It’s simple to check through the Better Business Bureau and see if the company is an accredited business. The Better Business Bureau also features reviews and feedback.
If you can’t easily access a website to learn about the company and the company doesn’t have any Google Reviews, it’s best to steer clear.
We Buy Houses For Cash In Atlanta.. Selling Without A Georgia Realtor
We Buy House In Atlanta companies often get a bad wrap in the Georgia. They are often thought of as scam artists or dishonest people when in reality these companies can be of great service to people. Just like anything there are pros and cons to taking this route. Since these ugly house buyers are investors they are not going to give you full price for you home. They are usually buying properties anywhere from 50-60 cents on the dollar.
But before you kick these guys out of your house take a moment to think about the benefits of selling to a cash investor. Fast Cash! In most cases these buyers have the cash to buy the property immediately. Not only will it be a cash sale but you don’t have to worry about paying any seller concessions. Often times they will even cover your closing costs which will save you additional money. These cash buyers will also save you on those hefty realtor commissions. Since your property is a for sale by owner there will not be any broker involved. No broker = no fees!
Did I mention there will not be any inspections done. Since it will more than likely be an AS-IS cash sale the buyer will not bring a city or private inspector through which means you don’t have to do any repairs to the property. These companies will just do a walkthrough to make sure that there are no surprises that will pop up during the renovations of the property.
This also means that you will not have to spend any money making any repairs to the property to sell it. A Realtor will make you fix up the property to sell it before they list the house with you. They usually won’t take properties that are in disrepair because they sell for less (lower commissions) and they take longer to sell (more work). Another thing to consider is that banks won’t give loans on properties that need a lot of work.
So even though you may not get full price for what you think your home is worth you will be saving tens of thousands of dollars in fees and repairs. It makes the deal even sweeter knowing they can close in as little as 14 days if needed. The best part about selling to a cash investor is that you can leave the unwanted items in the property so you can save even more money on moving expenses.
The average expense for a realtor is 6-7% of the sales price of your home. For example if you sell your home for $200,000 it will cost you anywhere from $12,000-$14,000 at closing. If you decide to use a real estate professional to sell your property then you will more than likely be dealing with financed buyers which means you might have to pay seller commissions ranging anywhere from $3,000 – $5,000. Don’t forget these costs too.
Selling to a financed buyer also means once you sign a contract to purchase you will usually have to wait anywhere from 30-60 days to close. Let’s also not forget the cost of inspections. Most cities require the house pass an occupancy inspection. When the city sends there inspector out there may be items that don’t meet city requirement which may get costly to fix.
The potential buyer will also hire their own home inspector to do their own due diligence to see what the house may need. This can also get costly if the buyer has high demands before deciding to move forward with the purchase. The extra money you make hiring a real estate agent in Georgia may cancel out with the expense of broker fees, inspection expenses, and repairs.
We Buy Houses In Atlanta.. Who Is It For?
Companies that pay cash for homes prey on home sellers who are in distress or need to quickly sell. The cash-paying buyers often advertise the types of situations they are searching for in hopes that you will recognize your predicament and call them. They look for:
- Sellers who can’t sell or whose listings expire
- Sellers who are divorcing
- Bankruptcies
- Homes in probate
- Homes in foreclosure
- Sellers whose employers transfer them
- Owners who are evicting tenants
- Vacant homes
- Trashed or damaged homes
For a more comprehensive list on Situations That Cause Distressed Property.
There are a variety of reasons someone might choose to sell to a We Buy Houses company; in most cases the seller is unable to sell the home on the market and is looking to close quickly. If a loved one unexpectedly passes away, someone might quickly inherit a home but not have the time or energy to make repairs and put it on the market. If a home has been damaged, in order to avoid massive repairs, a homeowner might choose to sell for cash.
I was kind of in awe about how great of a job the team at Breyer Home Buyers did. They made selling the inherited house, which was very daunting at first, such a simple process. Thank you so much guys. – Justin Ramsey (Google Reviews)
Divorced couples needing to relocate quickly can benefit from selling the shared home through a We Buy Houses company. An unfortunate financial situation or unexpected bills may prompt someone to sell their home in order to get cash fast and make ends meet.
Regardless of the situation, most sellers are feeling overwhelmed and stressed, which is why these companies help take that weight off of their shoulders by simplifying the process. These companies add massive value to people who are overwhelmed with a problematic house and need to get out of it quickly.
People who are not struggling under the weight of their house will see a We Buy Houses For Cash Atlanta as a scam – just trying to steal money. In reality, we’ve helped people avoid foreclosure, sell their house to move on without dragging out the divorce process, take over inherited houses full of junk they couldn’t clean out, etc. Whatever your situation, we’ve most likely handled it. There’s pros and cons to any way that you sell your house in Atlanta. The key is to be aware of your situation. Do you need to get out of your problem property really fast or do you have time to wait and get the most money? Only you can answer that.
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