Professional house buyers buy properties they intend to sell, rent, or flip for a profit. Professional house buyers typically pay for homes with cash, as opposed to traditional financing methods like using a mortgage to finance the home. Selling to an experienced house buyer can be the right move for those selling their homes who want a quick cash offer and don’t want to go through the traditional real estate process.
This article discusses what it means to be a professional house buyer, the pros and cons of selling your home to a professional, and whether or not it’s the right move for you and your family.
What is a professional house buyer?
Professional house buyers rarely pay full price for a home. They target homeowners who need to sell their property quickly and for less than market value.
Selling to professional house buyers can be a great option for homeowners that don’t want to go through the real estate process. They typically don’t need the help of a realtor and don’t have to pay their agent the standard 3 percent commission on the home’s sale price.
Benefits of selling to professional house buyers
Selling your home to a professional house buyer isn’t the right move for everyone. However, those that decide to sell their homes this way receive the following benefits:
You’ll typically get a cash offer
Professional house buyers have the funds to pay for homes below market value in cash that they can fix up, sell, or rent to potential tenants. This means you’ll get a lump sum of cash in exchange for your home instead of waiting for a new homeowner to qualify for a mortgage.
The deal closes quicker than traditional real estate transactions
When selling to professional house buyers, time is of the essence. Most borrowers considering selling their homes for cash are in bad financial shape and need to sell their houses quickly. Professional house buyers know how to close the deal in a fraction of the time that is standard with traditional real estate transactions.
Professional house buyers may buy the house as-is
Selling your home to a professional house buyer may not require an inspection since they often buy the home “as-is,” meaning the current homeowner doesn’t need to make any repairs before selling the house.
Drawbacks of selling to professional house buyers
However, selling to professional house buyers has its fair share of risks and drawbacks. Since you’re not using a realtor, you’re on your own when negotiating your home’s sale price. Below are some additional considerations to make before you decide to sell your home to a professional home buyer.
- You won’t get as much for your home when selling to professional house buyers
- You don’t have as much bargaining power
Depending on your circumstances, selling to a professional house buyer may be a great option. You’ll receive cash for your home and close in a fraction of the time you would with a normal real estate deal. However, there are some reasons to consider why selling your home to a professional isn’t always the best choice. Contact Capable Home Buyers for a no-obligation cash offer for your home today. We buy houses in the Chesapeake area as-is for top dollar.