Why You Should Sell Your Miami House with a “We Buy Houses” Investment Firm

There are a number of reasons people across Miami choose tosell their house with a “we buy houses” firm.

Perhaps the biggest reason is because these companiesoffer you cash for your home and can close extremely fast.

You don’t need to worry about a borrower’s financing fallingthrough or any other financial hurdle. Instead, you receive an offer and closeon the transaction soon after you accept the offer.

Here are some other advantages of seeking out cash offers.

Any Condition is OK

Whether your property has been run down by renters for yearsor you inherited an older family member’s home that’s been neglected, cashoffers are made on an as-is basis. That means you don’t have to worry about theoffer amount changing or having to take on additional repairs after an inspectionoccurs.

No Scheduling Issues

It can be a hassle to coordinate showings with you, youragent, a prospective buyer, and a prospective buyer’s agent. Even worse is ifyou have a tenant’s schedule to consider as well. With a cash buyer, it’s easyto set up a single visit and move forward without so many moving pieces to slowdown the process.

Close on Your Timeline

Using a “we buy houses” firm is ideal if you want to sellyour house fast in Miami. The average days on market for Miami homes listed withan agent is 153 days as of April 2019. That’s five months. If you want to speedup the process and get rid of that property once and for all, a cash buyeroffers a much faster solution.

Avoid Foreclosure

If you’re facing foreclosure or financial hardship ingeneral, selling your house in Miami for cash could help avoid this majorissue. Even if you don’t make a large profit, you can save yourself the turmoiland future credit implications of doing such long-term damage to your creditscore.

Avoid Expensive Fees

As a seller, your costs can add up quickly when you listwith an agent, cutting into your overall profit margins. Things like closingcosts, real estate agent commissions, title fees, and escrow fees can end upcosting you thousands of dollars, or even more depending on the sales price ofyour property.

Today’s Real Estate Market in Miami

Much of the country is seeing an increase in home priceswith more demand than supply, and much of Miami has certainly experienced the fastpace of growing home values. And while sales prices are still on the rise,recent studies indicate that actual home values are starting to falter.

While one economic indicator doesn’t give a verdict for anentire market, it does show the potential for a cooling down. What does thatmean for you as a seller?

It could mean that now is an ideal time to sell in case homeprices start to fall. If the property has been in your hands (or in those of afamily member) for quite some time, you may have witnessed some appreciation invalue, despite its current condition.

Depending on what Miami neighborhood your home is locatedin, you could very easily sell for a profit using a cash buyer who can removeextraneous costs and stress throughout the home selling process. This allowsyou the speed and flexibility to remove the most inconvenient aspects ofselling a house and instead focus on receiving a fast and firm cash offer.

FAQs

Is selling your house for cash faster than selling through a real estate agent?

Yes, it is much faster to use a “we buy houses” firm than a real estate agent. The traditional method can take months to close, or even longer depending on what Miami neighborhood your property is in. Even in hot local markets like Coral Gables or Miami Beach, closing times can be stretched out due to a number of issues such as buyer financing falling through.

Will you receive market value for your property?

The amount of your cash offer depends on a wide range of factors. One is the property values of similar homes in the area. But the offer also takes into account any needed repairs or maintenance, since the buyer is making the purchase as-is. Because of this, you’ll likely get an offer that is below the market value of your home.

Is there an expiration on all cash offers?

It depends on the company, but in most cases, you’ll need to make a decision within 30 days of receiving a cash offer. This gives you time to shop around for buyers so you know you’re getting the best deal possible – and not just the first one.

Can you sell your condo or townhouse for cash?

Yes, it’s certainly possible to find a “we buy houses” investor for your Miami condo or townhouse. In fact, most cash buyers are open to a wide range of real estate types. No matter what kind of property you own, you can find the right cash buyer.

Are “we buy houses” investors trustworthy?

Anytime you enter into a financial transaction with someone, you’ll want to do your due diligence before proceeding. Reading online reviews from an independent third party is a great way to see how a company really conducts itself with clients. Also check to see if the company holds a professional license as a real estate broker in Florida. These are great first steps to make sure you’re dealing with a reputable company.by Lauren Ward

Personal Finance Writer

Lauren Ward is a personal finance writer with nearly ten years of experience covering topics like loans, credit, and real estate. She lives in Virginia with her husband and three children.