911Houses: What types of companies buy houses from sellers?

 What types of companies buy houses from sellers?

Traditionally, selling or disposing of a house is a challenging task. Sellers have to prepare their homes for sale after the necessary repairs are done, contact a real estate agent, list their house on the websites, and stage the house in the hope that they will procure an excellent, profitable bid from the buyers. Due to different circumstances, sellers may not want to carry out difficult repairs or wait a long time before selling their houses. 911Houses, the expert, fast cash closing real estate company in Florida, explores the various other supplemental options in the housing market which help people sell their homes fast.

1. Cash buyers and Franchises

There are a few branded companies that buy homes for cash and have franchises in different cities in the US. These franchises will be run by local people (also called franchisees) of that town who have the advantage of local knowledge. The franchisees will pay a portion of their profit or a fixed income on a regular basis to the branded company for their branding and other help as per the contract. The homes bought by such franchisees will be resold after repairs or kept as rental properties.

2. iBuyers

iBuyers stands for “instant buyers.” iBuyers are a relatively new addition to the real estate market. They buy houses that need significantly fewer repairs and can be easily resold.

iBuyers offer 80% to 98% of the house’s market value which is more than what other cash buyers might offer. However, currently, iBuyers do not currently operate in many cities in the US and hence their service may not be available everywhere. Moreover, a home has to satisfy certain criteria to qualify for an iBuyer sale. iBuyers typically look for owner-occupied homes built after the 1930s and priced between $100,000 and $600,000 (with a lot size of 1–2 acres). Even so, they may also be open to negotiations and may make making allowances depending on the market.

3. House flippers

House flippers are real estate investors who buy distressed and run-down or neglected homes to renovate and resell them for a highly profitable price in the market. A house flip generally happens within six months or a year from the time of purchase to reduce maintenance costs. This expedited renovation process keeps maintenance costs down and ensures a favorable profit.

4. Investors who rent out

Some investors buy houses from sellers and keep them as rental properties after a bit of renovation. Such investors may be franchises of real estate brands or even individual investors who want to have extra rental income without paying high prices too much.

5. Trade-ins

Trade-in companies help homeowners free up cash to buy a new home. Based on the value of the house to be sold, these companies provide cash to the homeowner to buy a new home. The Trade-in company will then sell the existing home. A percentage of the profit from the sale goes to the trade-in company to reimburse the cash fronted for the new home. The primary focus of such a company is to free up cash so that the homeowner can buy a new home before the old one sells and avoid paying two mortgages at once.

Why 911Houses.com?

911Houses.com gives the guarantee that they will buy the home directly from the homeowner and close the deal in 7 days for cash. Homeowners looking to sell their homes fast for cash can sleep peacefully and not worry about dodge drama relating to the extensive paperwork, costly repairs, staging, and stress.

Get in touch with 911Houses to sell homes fast for cash by visiting https://911houses.com/#contact-form or calling (813) 345-2660.

Types of companies buy houses from sellers

 

Which category of sellers can benefit from selling their homes as-is for cash

 Who would benefit from selling their houses fast for cash?

There are several benefits of selling a house for cash. Cash buyers do not need to wait for mortgages to be approved and generally have the funds to buy the houses upfront. Hence, cash deals are mostly successful.

Further, if the buyer is ready to buy the house as-is, the seller does not have to worry about repairs to be done or staging it for inspection. Additionally, the seller can avoid the marketing and commission costs that they have to bear while going through a real estate agent.

Taking all these into account, certain categories of buyers would quickly benefit from selling their house for cash as-is.

1. Seniors/ Homeowners who are downsizing 

Most people plan to live in their homes forever. Yet, reasons such as age, illness, and loss of a spouse/ partner can make living independently difficult. Many seniors move to assisted living facilities or downsize their homes as they are unable to manage their family–homes anymore. 911Houses can help to close the deal fast within 7 days and relieve the stress of feeling trapped.

2. Owners of distressed homes

Homeowners may possess a property that has the risk of foreclosure. The house could be in need of renovation/ repair that the owner may not be able to carry out. In such cases, it is ideal to sell the house as-is. 911Houses can buy the unwanted house as-is for cash.

3. Rental property owners

Rental properties would have had various families occupying them at different times. Over time, such properties can turn into a stress factor and drain homeowners’ finances. If the property were taking too much money and time for its maintenance, a better option would be to sell it for cash. 911Houses can give quick cash offers for such properties and save the owner from having to do repairs and updates.

4. Inherited property owners

Sometimes old, inherited properties may be too difficult to maintain. If the owner lives far away, they may not be keen on doing repairs and renovations. Such owners can consider selling the house for cash.

5. Probate issues

If the homeowner has passed away and the property has not been automatically transferred by the will to another person, a probate may be required to sell the house. Probate is meant to protect the interests of the deceased and make sure that all beneficiaries get what they are legally entitled to. When there are multiple beneficiaries involved, it is better to sell the house for cash, rather than go through the long-winded traditional method of selling via real-estate agents. This will help save time and any additional expenses involved in listing and staging the property for sale.

Why 911Houses.com?

911Houses.com is a reputable real estate investment company that buys houses for quick cash in Florida Real Estate. 911Houses saves property owners from the hassles of listing their homes, expensive repairs, and finding a suitable buyer. 

911Houses pays quick cash for homes and ensures the deal is closed in 7 days. 

Contact 911Houses to sell home fast for cash. The team can also be contacted by visiting www.911houses.com/ or calling (813) 345-2660.

Explanation on How Some Hidden Holding Costs Can Lead to Losses for Home Sellers

Have you checked your hidden holding costs?

Selling a house with the help of a real estate agent and listings method is the usual go-to approach for most home sellers. However, it isn’t necessarily the best method for sale for everyone. Besides the staging, marketing, and commission costs, certain costs slowly add up as owners wait for a deal to go through. Identifying these costs can help home sellers assess if sale via listings is a lucrative option for them in the long run. 911Houses.com dives into some of these holding costs that can ambush an owner. 

What are holding costs?

In real estate, ‘holding costs’ entails all expenses incurred by an owner of an investment property of any type pending receipt of rental income from a tenant or the proceeds on the sale of the property to another party. 

Home sellers must be aware of these costs so they can make better decisions regarding their home sales.

1. Property price drop

The real estate market can be unpredictable. Home sellers may have posted a listing for a certain price, to begin with. But as time progresses, this price may not remain aligned with the market. A house that remains on the market for too long may force an agent to lower the price as a last resort. But while this may seem wise at that moment, the expenses made to hold the property may exceed the profits expected at the new sale price. 

2. Utility bills

When potential buyers come to view a property, they will always inspect the utilities such as heating and lighting. Therefore, home sellers with vacant houses must retain their utility services. The temptation to save money by disconnecting the services must be overlooked as the cost of losing a potential buyer will be higher.  

3. Property taxes

Besides the size, the location such as the township, city, or county determines the property taxes. The property owner is obligated to pay the tax to the government to avoid a penalty. This holding cost will continue until the property is legally signed over to a new owner. Home sellers must assess if they can afford to pay property taxes for vacant property and if their final sale price will be worth this holding cost.

4. Maintenance and repair costs

Before the staging event, an owner may decide to invest in the repairs to receive a good offer. However, with or without the staging events, a home requires maintenance and may sometimes need an unexpected repair. From light fixtures, lawn maintenance, a/c filters, and other unexpected repairs like termites and mold, home sellers must be prepared to spend. They must also calculate if the expected sale price will compensate for these expenses. Is it worth it?

5. Insurance coverage

Insurance is an expected expense. Often it is included in a homeowner’s mortgage payments. However, a homeowner’s insurance policy doesn’t cover everything. Homes in flood-prone areas or any water damage coverage requires owners to buy extra insurance. This can be expensive, especially if the home is lying vacant waiting for a buyer.  

6. Miscellaneous costs

Other costs such as HOA fees for homes in private communities and property management fees (to manage the home sale and maintain the house in an owner’s absence) can prove to be big expenses.  

When a home seller can calculate these holding costs and compare them with the expected sale price, profits and losses are easy to surmise. In case of high holding costs and potential losses, a home seller may want to opt for a cash sale instead. This not only ensures a fair sale price but also takes away all the associated hassles of selling a property via listings.  

Why 911Houses.com?

911Houses.com is a reputable real estate investment company that buys houses for cash in Tampa, FL, and the surrounding areas. Unlike regular real estate companies, with 911Houses.com, property owners don’t have to list their homes, pay for expensive repairs, or worry about a prospective buyer backing out due to lack of financing. 

911Houses buys homes directly from owners and closes the deal within 7 days. Ready to get started with 911Houses to sell home fast for cash?

Visit www.911houses.com/ or call (813) 345-2660 for more information.

Sell Your House Fast Images - 4/28/2022

 

911Houses shares why buyers back out of contracts leaving a seller high and dry

Why do buyer-seller agreements fall apart?

Florida has a roaring real-estate market and many homeowners may seek to sell their properties for various personal/financial reasons. But the closing of a deal may send their stress levels through the roof. 911Houses explains why buyers often renege on their contracts and why closing becomes a nightmare for home sellers. 

BUYER'S PERSONAL CIRCUMSTANCES

• Job loss

In these uncertain times, losing a job is a possibility. And a loss of steady income would make any buyer unable and unwilling to take up the responsibility of debt. Even if backing out of the agreement means paying a penalty fee, or forfeiting their earnest money, buyers who have lost their source of income will step back, leaving the home seller with the task of looking for another buyer. This may disrupt the plan a home seller may have and put them under financial stress.

• Ineligible for a mortgage

From changes in the credit history or employment situation of the applicant to the lender rejecting the home appraisal, even a pre-approved mortgage can fall through for various reasons. A financing contingency clause in the agreement can help a buyer walk away from the deal without any losses before the contingency’s expiration date.

• The buyer is unable to sell the old home

Sometimes a buyer may be dependent on the sale of the old house to pay for the new one. In a worst-case scenario, the buyer is unable to sell the old house, a contingency clause may allow the buyer to back out. This however also allows the seller to keep the house on the market and opt-out in case of a better offer. 

911Houses buys houses for cash and has been financing its house purchases in Tampa Florida. Approval of a mortgage to pay is something the company or the seller need not worry about. A deal with 911Houses is always a sure-shot cash deal.

• Buyer Finds Something Better

A buyer may continue checking out other houses post committing to a home seller. Another home may catch their fancy and change their mind in a flash. This can again disrupt a home seller's plans.

911Houses makes an offer within 24 hours without inspection and can close the deal within a week. Purchasing a home is an investment for the company.

PROPERTY'S CIRCUMSTANCES

• A failed inspection

When a seller fails to disclose any known property damages or flaws that can impact the future value of a property, by law a buyer can withdraw the offer and a lender can reject a mortgage upon the inspection of the house. Any major structural damage or pest infestation can become a reason for a deal failing.

911Houses does not require any inspection or visit the property before making an offer. 

• Failure to improve or repair the house

In a scenario where the seller agrees to repair and amend the flaws that were discovered in the house upon inspection, the seller is liable to fulfill those commitments before the contingency date. Failure to do so can lead to the buyer backing out without losses.

911Houses will buy a home “as is'’ without any demand for repairs or amendments to the property. Sellers can sell their homes for cash without any inspection or spending any money on repairs.

• Undisclosed easements

An easement is the right of another person or entity to use part of a property. They are part and parcel of the land they affect. They don't change when the property changes hands. Subsequent owners are obliged to let whoever owns the easement use the property. This means buyers must find out exactly what easements a property is subject to before finalizing the purchase. Easements can be beneficial or detrimental to a property. 

There are several types of easements, including utility easements, private easements, easements by necessity, and prescriptive easements (acquired by someone's use of property). Clouds on a home’s title are a kind of easement that may occur without the consent of a property owner. When these turn up during the title search, a buyer is entitled to withdraw the offer unless the issue is resolved.

911Houses takes care of all paperwork leaving the home seller free from stress and hassle.

Until a home seller has signed the agreement, the buyer is not liable for anything. But once the contract is signed by both parties, stepping out of a contract can be tricky for a buyer and definitely a source of disappointment for the seller. But what if the buyer just cannot buy the house anymore? A homeowner can then easily sell a home fast for cash with 911Houses.

Why 911Houses.com?

911Houses.com is a reputable real estate investment company that buys houses for cash in Tampa, FL, and the surrounding areas. Unlike regular real estate companies, with 911Houses, property owners don’t have to list their homes, pay for expensive repairs, or worry about a prospective buyer backing out due to lack of financing. 

911Houses buys homes directly from owners and closes the deal within 7 days. Ready to get started with 911Houses to sell home fast for cash?

Visit www.911houses.com/ or call (813) 345-2660 for more information.