Are you looking to sell your home right away for quick cash? Well, if you want to sell your home for cash or are considering the possibility, you should review the difference between a professional home buyer and a traditional buyer before making a decision on whom you´re going to sell it to. You should take the time to review your options – in other words, do the proper research before taking a sudden course of action.
First, let’s define what a professional home buyer and a traditional buyer are. A professional home buyer is an experienced company that buys homes or properties directly from the homeowner. A traditional buyer can be anyone who buys a home in cash but most often are not experienced with the process and may work with a real estate agent.
Now let’s take a look at the differences between a professional home buyer and a traditional home buyer:
- The main distinction between the two is that professional home buyers are cash buyers; however, traditional buyers are not professional home buyers. When you invest in a professional home buyer, you invest in a qualified, experienced company that provides real estate services and knows the ins and outs of this type of industry. On the other hand, with a cash buyer, you take the risk in someone who may have little to no experience in real estate and may not be a qualified individual.
- Since professional home buyers have a wide-range of experience on viewing properties and do the necessary research, they are able to inspect your home fairly quickly and provide a written offer. They have a clear idea of the repair/renovating costs required. Traditional buyers, on the contrary, will probably take more time to make an inspection and ask for multiple inspections such as a roof inspection, a water well test and inspection for mold as well as request repairs. This will result in more added expenses.
- Professional home buyers make a closing offer within a short period of time – within seven days or less but traditional buyers will probably take a longer amount of time due to lack of funds or reviewing the property.
- Professional home buyers offer low prices for homes but they consider all of the expenses and extra fees and costs that come with purchasing properties. They use most of their investment in costs, fees and repairs that you would have to spend on yourself if you were to sell your house in the traditional way. These include closing fees, escrow fees, real estate commission, repairs, mortgage interests, among others. However, traditional buyers only keep in mind the budget they have – what they are able to pay. In fact, they will probably offer less.
- A professional home buyer will invest in a house in its current condition whether good or bad but a traditional buyer cares about the aesthetics of the house since his intention is to probably live in that home. He will therefore ask for a clean-up and repairs which requires more money and time on your end.
- Professional home buyers do not work with real estate agents and neither do they need to. They understand the complete process and invest in properties directly (between investor and seller) without any middlemen. A traditional buyer may decide to hire a real estate agency and therefore, you have to handle negotiations with both the traditional buyer and real estate agent. In addition, this adds on an extra cost since they require a piece of the profit from the sale.
- Professional home buyers provide more assistance and are experts in what they do. This is their line of business so they take all of the hard work off of your shoulders and do it themselves. They can help you with a variety of things such as avoiding foreclosure, selling a rental property and handling paperwork. Traditional buyers only care about the property because this is usually not their line of work.
- When you are working with a professional home buyer, you are a customer. As a result, the buyer cares about your needs and provides the necessary assistance to make the business transaction as smooth and convenient as possible. However, when working with a traditional buyer, you are only a seller, not a client. So the buyer only cares about his needs and you may be at risk by conducting business with an unknown person.
In conclusion, even though it is your decision to either work with a professional home buyer or a traditional buyer, there are many positive benefits with a professional home buyer that offer more than a traditional buyer would. Hopefully these top reasons make you realize that a professional home buyer is the obvious choice. You don’t have anything to lose with a professional home buyer but you may lose with a traditional buyer.
Professional Home Buyers was founded in 2001 to provide real estate services to Buyers and Sellers in need of alternative services that most companies do not offer. We buy homes as-is, offer quick closings, and make cash offers thus reducing the time and hassle of selling. We also offer Rent to Own Homes to Buyers who may not qualify for traditional financing. Lastly, we help Investors and Realtors make money in Real Estate via Investment opportunities and referrals.
No matter your Real Estate need, we can help. Contact us today or visit us at www.ProHomeBuyer.com.