If you are familiar with cash homebuying companies, you may know that they evaluate homes before buying them. Just like any other buyer, these companies want to make sure that they are purchasing homes that meet the criteria they have. Knowing how a cash homebuying company evaluates your home can help you prepare for this process.
Tour and Research
To begin their evaluation process, a cash homebuying company will send one or several representatives to tour and inspect your home. You don’t worry about staging the home or completing any repairs since the company will be more interested in the structure and potential of the home rather than specific aesthetics. The cash homebuying company will also complete research about your home’s age, value, location, and other factors. They may ask questions about the structure of the house, previous renovation jobs, or anything else that will help them determine the value of your home.
Employees of cash homebuying companies are not buying homes for themselves to live in. Cash homebuying companies make money by reselling or renting out homes they have purchased to new buyers or renters. Because this is their goal, they have specifications for the homes they buy. Each company will be slightly different since they are run by diverse individuals who approach selling and buying homes differently. If you have any questions about company specifications, you should directly ask the cash homebuying company you are working with.
If your home passes the initial touring and research and meets all other company specifications, a cash homebuying company will extend a cash offer. Assuming they are interested in your home, cash homebuying companies generally extend an offer extremely quickly. They are also ready to close on that offer as soon as you are. When working with a reputable cash homebuying company, you never have to worry about them not having sufficient funds. Because they are constantly buying and selling homes, they always have enough money to pay sellers in full.
Cash homebuying companies are typically interested in a large variety of properties. With their funds, they have the means to fix up older or damaged properties. Even if you aren’t sure if your property will meet their requirements, you should reach out to check.
To start the simple evaluation process of selling to a cash homebuying company, reach out to Clear Water Investing here today.