If you’re in the market to sell your home, you might be happy to know that cash sales are on the rise. Back in 2021, cash sales rose to 30%Â of all home sales for the first time since 2014, and that number seems to be holding steady.
Of course, this can make it a little harder to choose a cash home buyer. With so many Austin buyers clamoring for a sale, how can you tell which one you can trust?
As with any transaction, it’s crucial to do your homework before you accept any cash offer. Let’s take a look at a few things you’ll want to look into before partnering with any cash buyer.
Check Accreditation
Before you start narrowing down your list of potential home buyers, you’ll want to be sure you’re working with an established brand. To do this, look for accreditation by agencies like the Better Business Bureau.
Having no accreditation doesn’t mean a buyer is shady, but you’ll have to be more cautious with these companies. On the other hand, accreditation shows that a company is willing to be held accountable for the quality of its work. That’s always a good sign!
Look for Experience
There’s nothing wrong with newer cash buyers, but that lack of experience can sometimes affect your home’s sale process. Inexperience can make a company slower and more cautious, and you may face unexpected delays as they sort out legal issues that an experienced agency will often be better prepared for.
A more established buyer, on the other hand, should have a wealth of experience in the real estate market. Often, they’ll have a range of transactions under their belt from many types of properties, clients, and locations.
It’s also worth noting that you should seek out local experience above all else. While there are plenty of national brands that buy homes, local buyers tend to have more intimate familiarity with your area. This hyperlocal expertise often allows them to come up with a fair price fast.
Seek Out Online Reviews
Accreditation and experience are nice, but don’t forget to see what other sellers say about their home sale experience! Sites like Facebook, Yelp, Google, and even the BBB can provide a lot of helpful insights on how a cash buyer treats its clients. Here are a few things to look out for:
- Does the cash buyer seem to communicate well and often?
- Does the buyer often stick to their promised timeline?
- Do many of the home transactions run into unexpected snags?
- Does the cash buyer seem transparent about things like pricing?
If you notice that many clients are complaining about problems with their experience, run! The last thing you want to do is partner with a cash buyer that doesn’t offer quality services.
Compare Timelines
Sometimes, the speed of your transaction doesn’t matter much. However, when a fast sale is your priority, it’s important to choose a buyer who can get things done on time.
Some cash buyers can take two weeks or more to complete the sale, which is fine in most circumstances. However, other cash buyers with experience in selling homes quickly will do it in as little as 7 days!
No matter your timeline, it’s important to partner with a buyer who can accommodate you. A buyer should have no problem delaying a sale if you need more time, and they should also be able to speed things up if you’re working with a deadline.
Confirm the “As-Is” Purchase
The majority of cash buyers work through “as-is” transactions. This means that they’re accepting your home in its current condition, and they don’t expect you to make any repairs or other changes.
However, some buyers will not accept additional work when it comes to preparing homes for sale. Before you get too far into the negotiations, make sure you understand what the buyer will hold you responsible for.
Do they want you to make repairs? If so, you’ll need to factor additional costs into your budget or find a different buyer.
Do they want you to clear items out of your home? With a traditional buyer, sellers should always remove their belongings, though this doesn’t always happen. The removal process can mean a delay in selling, and it can also be a headache if you have to decide what to do with each item you’re getting rid of.
Do they expect you to clean your home? Most home buyers will take care of cleaning, painting, and other cosmetic fixes for the resale on their end, but it’s a good idea to ask.
Get Multiple Quotes
We recommend doing a bit of research on the value of your home. This can give you a better sense of what a fair offer might be, and it can also help you avoid lowball offers from shady buyers.
Next, reach out to any cash buyers you feel comfortable with based on the tips above. With their quotes in hand, you can compare several at once to decide which one you prefer.
Note that a fair home price will consider a few things. First, it should take your home’s current condition into account. It should also consider the current market in your area as well as the estimated cost of home repairs.
Regardless of what a company offers you, make sure to avoid any agencies that use high-pressure sales tactics. You should never feel like a company is forcing you to sign a contract on the spot if you’re still not sure about the details.
Choose a Cash Home Buyer You Trust
When you’re selling homes for cash, it’s crucial to choose a cash home buyer you can depend on. That’s where we come in!
No matter the condition of your Austin home, we’re here to offer a fast and stress-free experience with zero unexpected fees or expenses. To contact us with questions or to get a quote, fill out our online contact form or give us a call.