Most people who own real estate in Greater New Orleans and Southeast Louisiana are used to dealing with real estate agents. Some of us may even have a family member or friend who is a Realtor. However, most have never had an experience with meeting people that buy houses for cash and may not know what to expect.
We’re going to take some of the mystery out of that for you today.
We Buy Houses For Cash?
We’ve all seen those little yellow signs on the side of the road or stapled to a telephone. “We Buy Houses For Cash!” These are called bandit signs and can be purchased from the local sign store. Now, the thing is, you may actually be interested in selling your house for fast; but can you trust this random person who put their number on a sign?
It’s really nothing to be worried about. There are cash buyers all around you and you’re probably not even aware of them. You do want to make sure this is someone you can trust before giving them your information and inviting them to your home.
Contacting A Cash Home Buyer
The first step is to contact the person who buys houses for cash. If they are interested in your property, they’ll gather some basic information about your property over the phone. This allows the real estate investor to do some quick research to get an idea of how much your house is worth. Preferably, that real estate investor will have access to the local MLS or software like Propstream. Alternatively, they can use Zillow as a good resource to find what similar houses have sold for in the area.
If the investor determines that the house may be a good fit, they’ll want to go see it. If you live out of state or if the house is tenant occupied, pictures are a good way to show the layout and overall condition. If you’re just worried about having someone come over due to health or safety concerns, a video call is another great alternative.
If you are able to to meet the real estate investor, here are 5 things you can expect:
They’ll introduce themselves and briefly discuss why you want to sell your house fast and what you’re hoping to get from it.
This is a good opportunity to point out anything that is wrong regarding the condition including any major repairs needed. It is also a good opportunity to point out anything that you like about the house or that may add value. You don’t need to worry about cleaning up for this.
You’ll find a place to sit and discuss the sale of the property. They might even read off standard questions. This is to ensure that they don’t forget anything important that may end up costing you money.
They’re going to ask you about your asking sales price. Note that when making an offer for all cash, the current market and overall condition will primarily determine the price.
Then they’ll discuss the terms of the sale. These include things like the amount of deposit, inspection period, closing date, etc. They can also include things like owner financing in the event that the price you want does not allow an all cash offer.
Now, real estate investors have a lot of flexibility when it comes to structuring deals because most of them don’t work through traditional bank loans. Because of that, you might hear options that you didn’t know were possible or available to you.
The great thing about working with people that buy houses for cash is you have several options to get to your desired solution. Investors who buy houses for cash are usually the best (and only) person to present them to you.
If you’re looking for quick and creative solutions to the sale of your Greater New Orleans property, contact Fairview Home Buyers today. After we gather some basic info about the property, we’ll give you a cash offer in less than 48 hours. We buy houses for cash and can close in as little as 14 days.