While the idea of cash for houses has been around for decades, it emerged significantly during the sub-prime mortgage crisis in the United States. The investors and buyers behind the thousands of companies in existence today developed a plan to help financially distressed home owners, who were facing the threat of foreclosure, to overcome their financial issues and problems.
Unfortunately, throughout the years, there have been a few unscrupulous buyers, as well. These are the individuals who were out for making a profit only, making the homeowner’s situation even worse.
The Growth of Cash for Houses Industry
When homeowners are in trouble, or if they are having to deal with inherited property, the appeal of just “unloading” it is high. In the past, the only option they knew of was to hire a real estate agent, have it listed on the market and then wait. In some cases, these homeowners ended up waiting months, or more, to even get someone interested in their property.
Anyone who is facing foreclosure or other issues understands that waiting this long is only going to cause them more financial trouble. With the cash for houses companies, this is no longer an issue. These companies are willing to purchase the houses, regardless of condition, size, location, style and more. Any residential property is game and the offers given may be lower than what a house would get when sold the traditional way, but still fair. After all, the homeowner is gaining the benefit of being able to get the money in their hands within weeks or days, rather than months or years.
Today’s Cash for Houses Buyers
Even if you have never used the cash for houses services in the past, these services have been heard of by almost everyone. After all, there are television and radio ads, billboards and other advertisements highlighting the “we buy houses for cash” everywhere. Keep in mind, while these promises may sound appealing, those interested in selling their house for cash should proceed with caution. Not all companies are reputable or reliable so it is a good idea to find one that is.
Is Selling Your House for Cash the Right Option?
There are many advantages offered by selling your house for cash, which include:
- Faster sales process
- Fair selling price
- Ability to sell a house regardless of condition
- Easily get rid of inherited property
Those are just a few of the advantages offered by accepting cash from a “we buy houses” buyer. You will have to consider all the factors to make sure this option is right for your needs.