Maybe you’ve noticed them. They are those signs that read, ‘We Buy Houses’, ‘Sell House Fast’ or even ‘Cash For Houses’ and a phone number. The signs are everywhere. You may have wondered why so many people are buying homes. After all, the housing market is supposed to be bad, isn’t it?
Well, those “We Purchase Homes” people are real estate investors. We pay cash for houses as investments. We buy houses below market value, do necessary repairs and then either sell the house for a profit, or rent the house out. This provides a nice profit and/or passive income. Read more about Norfolk We Buy Houses Association.
You may be wondering why people would want to sell their house below market value. Well, there are many situations that people find themselves in where they need to sell their house fast and some just sell this way for the convenience of it. Take for instance people that inherit a property that is far away from where they live. Many people in that situation don’t know how or even want to deal with the property and a cash home buyer is an answer to their prayers. Some other reasons include: people facing foreclosure that don’t want to lose all of their equity, tired landlords, divorcing couples, people in bankruptcy and people that have houses that just need so many repairs that normal home buyers are just too scared to buy.
As investors, we buy houses cash and accept the property ‘As-Is’. The ability to pay cash enables investors to close on your schedule, within 3 days if necessary. You don’t have to worry about having dozens of complete strangers walk through your house, possibly looking through your personal items. You don’t have to pay any commissions. You won’t have to wait months for a qualified buyer to come along, just to find out they want you to make a ton of repairs before they will close.