Are Home Buying Companies in Washington DC Legit?
April 2, 2021
April 2, 2021
You’ve probably seen signs around the Washington DC area that say, “We’ll buy your house for cash!” If you want to sell your home quickly, these signs probably have you wondering how legit home buying companies are. While there are bad apples in all industries, most home buying companies in Washington DC are legit and willing to buy properties in all conditions.
What are Home Buying Companies? What Do They Do?
Home buying companies are generally made up of real estate investors who buy homes for cash, fix them up and sell them to someone new. They make their money by buying homes as-is for a discount. Also, because they have a network of contractors they work with, they can make improvements for less than the general public.
There are many benefits to selling your home to cash investors in Washington DC, but it’s not for everyone. That’s why it’s important to weigh the pros and cons and compare what you’ll get from your home if you sell it through a realtor versus to a cash buyer.
Things to Know When Selling to Home Buyers in Washington DC
Most people who sell their homes to 4 Brothers Buy Houses are doing so for the convenience and speed. Here are the benefits they get to enjoy from this type of sale:
- Time. Selling to a direct buyer is quick and easy. There is no middleman so you can close on your home within a week or so. A traditional sale takes several months or longer.
- Buyer financing. Unlike a traditional home sale, there is no waiting on buyer financing. This means there are no delays or contingencies to slow things down.
- Creative solutions. Because home buyers in Washington DC regularly buy homes for cash, they have unique solutions. For example, if you’re underwater on your mortgage, they might be able to take it over.
- Repairs. Home buying companies buy homes as-is, so you don’t have to touch a thing. Investors look for good bones whereas traditional buyers want updated, stylish homes.
- Market value. You’ll likely get less than fair market value for your home, as the investor needs to make a profit after paying for repairs and closing costs. But you’ll still get a fair offer – and you don’t have to pay realtor fees!
How to Find a Reputable Home Buying Company
Unfortunately, there are scammers out there who give this industry a bad reputation at times. You will have to do your research, read the reviews and call the company to make sure you’re working with someone reputable.
Here are a few tips for choosing a house buying company in Washington DC you can trust:
- Read the online reviews. Does the company have reviews or testimonials from real people? Are they accredited by the BBB?
- Have someone review your cash offer. Do you have a lawyer or agent you trust? You can have them look over the cash offer for peace of mind.
- Do your homework. Find out what other homes in your neighborhood are selling for, as well as what your home is worth. This ensures you won’t get a low-ball offer.
- Don’t pay anything upfront. You should never have to pay anything upfront. If a company is asking for application fees, this is a red flag.
Get a Free Cash Offer from 4 Brothers Buy Houses
Interested in selling your home for cash? 4 Brothers Buy Houses purchases real estate in the Washington DC area. We will buy your home in any condition! All cash offers are free and no obligation, so call us today to see what we’ll pay for your home!