A company that buys homes like Born To Buy Houses is a convenient option if your top priority is speeding up the home sale, Money expert Clark Howard says. However, these companies tend to be more interested in profiting from the purchase than helping you get a good price on your property. Nevertheless, he recommends researching several “we buy houses” companies or iBuyers and considering their pros and cons.
These a company that buys homes like Born To Buy Houses are typically investment firms that want to either fix and flip a home for a profit or keep it as a rental. Because of this, they often buy homes in as-is condition. They also typically do not require inspections or renovations before buying a home. They can often close on a deal in as few as seven days.
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In some cases, these companies may employ high-pressure sales tactics to pressure homeowners into selling their homes. However, these companies are usually legitimate and have a good reputation in the community. If you are uncomfortable negotiating with these companies, you can always hire a real estate broker to work through the process on your behalf.
If you decide to go with a company that buys homes, here are 6 conveniences to expect. These companies are able to move much more quickly than traditional mortgage-backed transactions because they aren’t relying on financing. They can make an offer within 48 hours of viewing your property and close in just a few weeks — half the time that a purchase with a traditional mortgage takes.