The companies are out there, you’ve heard about them or maybe received a letter from one of them or maybe even searched online for one, and you know some people take a dim view of what these companies do. But suppose you need to sell your home fast, for whatever reason, and you don’t have the time or resources to go the traditional route. What if your house needs a lot of repairs or has legal issues to work through?
If that’s the case, you’ve probably been asking yourself this question: “Can I really get a fair deal if I sell my house fast for cash in Salt Lake City?”
Yes, you most certainly can. You just need to exercise some due diligence and do some research.
Over the past 10 years or so, professional house buyers have become fairly common across the country, and there are reputable ones in Northern Utah. It’s just that you need to do a little research first. And if you do decide to “sell my house for cash”, there are several benefits these house buying companies can offer.
How it Works and the Benefits
Here is how it works with a LOCAL, TRUSTED, and established company, the kind that fall on the “real” side of this question: “Can I sell my house fast for cash in Salt Lake City?” After you first contact one of these companies and an appointment is made, a representative of the company will view your home. Don’t let this scare you…I promise you that we have seen everything. 🙂 Then the company will put pencil to paper and figure out a fair cash price. The company will, of course, have to take into account repair costs and time invested making the repairs. Then when you and the professional home-buying company come to an agreement, you can have cash in your hand in as little as 5 days. Pretty simple and easy, really.
The benefits are numerous, but here are some of the most important ones. You won’t have to get an appraisal and then wait for that. Your house won’t have to be shown multiple times, and you won’t have to wait for a prospective buyer to secure financing. You also will have to do ZERO repairs. And you will not have to wait one to two months for closing to get your money. Basically, the whole process is streamlined and hassle free, and you can be assured of getting a fair offer from a reputable company. YOU CAN EVEN STAY IN YOUR HOUSE AFTER CLOSING AND YOU HAVE YOUR MONEY!
If you sell your house to a cash buyer like us, you’ll avoid more than a few hassles and delays.
What to Avoid and What to Look For
Just as in any other industry, there are a few shady operators in the arena of professional house buyers. So just beware of the following two common scams (besides, of course, high-pressure tactics and bizarre phone calls, or people telling you to sign Right This Second).
Contract Bait and Switch – This scam is when the buyer changes the contract on you. You and the buyer talk and start with just a verbal agreement between each of you. Then they offer a contract that they say is just a formal version of your verbal agreement, a contract which you may not have read and just signed. In the end, the final contract that you sign – which you have been thinking has only a few minor changes – is nothing like your initial agreement. So you wind up with a bad deal and lose money and/or become entangled in legal battles.
Equity skimming – In this scenario, after you transfer your deed to the so-called buyer, they make off with a large chunk of your equity. They do this by having you make payments to them instead of the mortgage company or by renting out the house after you leave. So they get a monthly payment and can also use your equity to get other financing. And if they stop making payments – because although they hold the deed to the house, they never properly assumed the mortgage liability – you wind up with a foreclosed home on your hands. Always close at a Title Company to avoid this.
Now, if you want to sell your house fast for cash and avoid issues like appraisals, inspections, financing time or any repairs, make sure you deal only with professionals who have an established reputation in the industry. You can check out the prospective company with the state Attorney General’s Office, your state’s Real Estate Commission (search Gary Parker), and, of course, the Better Business Bureau.
Always take the time to read and understand what you sign, and it’s a good idea to get advice from a trusted friend; we are happy to meet with you and someone you trust. Also, get all agreements in writing – a professional will want the same anyway. And remember: if a deal sounds too good to be true, it probably is.
If you’ve done just a little research, then, “Can I sell my house fast for cash in Salt Lake City?” is a question you won’t have to ask. You’ll know it’s the real deal and that maybe it’s right for your particular circumstances.