Cash buyers are individuals or entities with the money to buy your house outright without a mortgage. Initially, they can seem elusive and intimidating. It’s not uncommon to hear from other sellers that they had a bad experience selling to an investor. Finding reliable cash house buyers can be easier than you think, as long as you're willing to put some effort in. This company is an example of a cash house buyer that can be found online fairly easily. There are plenty of benefits to finding a cash buyer when preparing to sell your next home. Fewer fees are involved in the sale and a quicker closing timeframe are two benefits that sellers can take advantage of.
The question is, where do you find a trusted cash buyer to purchase your next home? Well, our three methods below will answer this question.
1. Attend Property Auctions
We recommend heading to home or property auctions in your area. These events give buyers the opportunity to purchase homes below the current market value. Property auctions draw real investors — those who actually have enough money to buy a house. An auction is a perfect place to meet and network with numerous cash buyers. Fortunately, finding property auctions is relatively easy, especially if you live in or around a city. There are constantly new homes that go through the foreclosure process and eventually get sold at auctions. It’s a popular place for cash buyers to congregate and do business.
Head to your chosen browser and search "property auctions *your area*." It will bring up a bunch nearby and provide details on attending. Make sure you prepare well ahead of time by ensuring your contact details are easily distributable. That way, you won't have to fumble around while encouraging investors to view your property. It's worth going to as many home auctions as possible. The more people within your local real estate market that you network with, the more likely you’ll be able to sell your house. Especially if your property isn’t in great shape, selling directly to a cash buyer can make the process much easier from your end.
2. Investor-Friendly Realtors
Certain real estate agents work with investors on a regular basis, holding a hot list of buyers who are willing and able to pay for your house in cash. On top of that, investor-friendly real estate brokerages work with people who will overlook cosmetic problems (e.g., chipped paint, worn carpets, loose tiles, etc.). After all, investors are trying to turn a profit. So, a home needing some love offers an excellent opportunity to do just that. That said, this type of real estate agent can be hard to find.
Your best bet is to search on Zillow using keywords like "investor" or contacting a nearby property managing company and requesting a referral. Failing that, you can try real estate investment groups or look for agents with a CCIM (Certified Commercial Investment Member) or REI (Real Estate Investing) designation. Realtors are useful gateways into your local real estate market. Network with them as much as possible. If they don't directly know of a cash house buyer for you, they may know someone else who does. It only takes one cash buyer to successfully sell your home.
3. List Your Property on Craigslist
Craigslist is a popular platform for securing cash buyers, thanks to the influx of property bargain hunters looking for deals. People are initially surprised when they hear that. Craigslist is still commonly used in many cities for buying and selling real estate. Everybody using the site to find a house is motivated. You likely won't have to do much hard selling. Use the "real estate for sale" section on the website to advertise your property with eye-catching photos and well-written descriptions. Depending on your city, you may have a better chance of finding more active cash buyers on Craigslist vs other real estate platforms. Make sure that you place all pertinent information about your property in the listing. That way you don’t have to answer repeating questions to multiple buyers.
Of course, it’s important to vet whoever you decide to work with from Craigslist. There is a low barrier to entry to use this platform to buy or sell a house. Do your due diligence when determining how legitimate a company is. Try searching for the company name online and read through any existing reviews. If a cash house buyer has a strong online presence with multiple positive reviews, that’s a good start. Search for an office location in town as well. While not all businesses have storefront offices, a cash buyer that does lots of business most likely will.
