Why You Should Sell Your Miami House with a “We Buy Houses” Investment Firm

There are a number of reasons people across Miami choose to sell their house with a “we buy houses” firm.

Perhaps the biggest reason is because these companies offer you cash for your home and can close extremely fast.

You don’t need to worry about a borrower’s financing falling through or any other financial hurdle. Instead, you receive an offer and close on the transaction soon after you accept the offer.

Here are some other advantages of seeking out cash offers.

Any Condition is OK

Whether your property has been run down by renters for years or you inherited an older family member’s home that’s been neglected, cash offers are made on an as-is basis. That means you don’t have to worry about the offer amount changing or having to take on additional repairs after an inspection occurs.

No Scheduling Issues

It can be a hassle to coordinate showings with you, your agent, a prospective buyer, and a prospective buyer’s agent. Even worse is if you have a tenant’s schedule to consider as well. With a cash buyer, it’s easy to set up a single visit and move forward without so many moving pieces to slow down the process.

Close on Your Timeline

Using a “we buy houses” firm is ideal if you want to sell your house fast in Miami. The average days on market for Miami homes listed with an agent is 153 days as of April 2019. That’s five months. If you want to speed up the process and get rid of that property once and for all, a cash buyer offers a much faster solution.

Avoid Foreclosure

If you’re facing foreclosure or financial hardship in general, selling your house in Miami for cash could help avoid this major issue. Even if you don’t make a large profit, you can save yourself the turmoil and future credit implications of doing such long-term damage to your credit score.

Avoid Expensive Fees

As a seller, your costs can add up quickly when you list with an agent, cutting into your overall profit margins. Things like closing costs, real estate agent commissions, title fees, and escrow fees can end up costing you thousands of dollars, or even more depending on the sales price of your property.

Today’s Real Estate Market in Miami

Much of the country is seeing an increase in home prices with more demand than supply, and much of Miami has certainly experienced the fast pace of growing home values. And while sales prices are still on the rise, recent studies indicate that actual home values are starting to falter.

While one economic indicator doesn’t give a verdict for an entire market, it does show the potential for a cooling down. What does that mean for you as a seller?

It could mean that now is an ideal time to sell in case home prices start to fall. If the property has been in your hands (or in those of a family member) for quite some time, you may have witnessed some appreciation in value, despite its current condition.

Depending on what Miami neighborhood your home is located in, you could very easily sell for a profit using a cash buyer who can remove extraneous costs and stress throughout the home selling process. This allows you the speed and flexibility to remove the most inconvenient aspects of selling a house and instead focus on receiving a fast and firm cash offer.

FAQs

Is selling your house for cash faster than selling through a real estate agent?

Yes, it is much faster to use a “we buy houses” firm than a real estate agent. The traditional method can take months to close, or even longer depending on what Miami neighborhood your property is in. Even in hot local markets like Coral Gables or Miami Beach, closing times can be stretched out due to a number of issues such as buyer financing falling through.

Will you receive market value for your property?

The amount of your cash offer depends on a wide range of factors. One is the property values of similar homes in the area. But the offer also takes into account any needed repairs or maintenance, since the buyer is making the purchase as-is. Because of this, you’ll likely get an offer that is below the market value of your home.

Is there an expiration on all cash offers?

It depends on the company, but in most cases, you’ll need to make a decision within 30 days of receiving a cash offer. This gives you time to shop around for buyers so you know you’re getting the best deal possible – and not just the first one.

Can you sell your condo or townhouse for cash?

Yes, it’s certainly possible to find a “we buy houses” investor for your Miami condo or townhouse. In fact, most cash buyers are open to a wide range of real estate types. No matter what kind of property you own, you can find the right cash buyer.

Are “we buy houses” investors trustworthy?

Anytime you enter into a financial transaction with someone, you’ll want to do your due diligence before proceeding. Reading online reviews from an independent third party is a great way to see how a company really conducts itself with clients. Also check to see if the company holds a professional license as a real estate broker in Florida. These are great first steps to make sure you’re dealing with a reputable company.