It takes around 56 days to close on a house after listing it, but some people don’t have this much time to wait. 

When a homeowner’s in a hurry to sell, they might start looking for companies that buy houses for cash. Are you interested in learning more about this option?

Selling your house for cash offers the fastest way to sell a home, but you might want to know a few things about this process before using it. 

Here are seven vital things to know about the companies that pay cash for houses if you’re interested in selling yours through this method.

1. Companies That Buy Houses for Cash Are Investors

As you begin considering this method for selling your house, you might want to look up “companies that buy houses for cash near me.” When you search for companies in your area, you’ll likely find several. 

Before selling to a company like this, you’ll need to learn a few things about these companies. The first thing to know is that these companies are real estate investors. 

Real estate investors purchase homes for cash to make money from the properties. They might make money by purchasing run-down homes to flip. When they invest money in these houses, they can sell them for a profit. 

Some real estate investors keep the properties as rentals. By renting them to tenants, they can earn long-term revenue. Many cash home buyers use both of these methods to make money. 

2. They Pay Prices Lower Than Market Value

The next thing to know is that companies that buy your house for cash won’t offer you the full market value for your house. Instead, they’ll offer you less.

If they pay the full price for your home, they can’t make money. While you might not want to sell for less, you might decide to after learning all the benefits of selling a home for cash.

One significant benefit is the speed of the sale. You won’t have to search for a buyer for your home, and you won’t have to wait months to close. You’ll close on the deal quickly and with very little effort. 

3. They Don’t Use Lenders

Another important factor about cash home buyers is that they don’t use lenders. As the name suggests, a cash home buyer pays cash for a house. If they pay cash, they won’t have to work with a lender to get a loan. 

It takes longer to close on a house when the buyer uses a lender for a loan, primarily because the lender has requirements. The lender also needs time to process everything. When you skip the lender, you close faster.

Some people ask, “are companies that buy houses for cash legit?” People wonder about this because the process is so fast, but the answer is yes. These companies are legit, and they offer a simple way to sell a house. 

4. They Don’t Use Contingencies

One of the top reasons people love companies that buy houses for cash is that they don’t use contingencies. Do you understand what a contingency is in a home sale? 

A contingency is a request from the buyer. For example, traditional buyers might ask the seller to pay some of the closing costs. They might also ask the seller to fix things around the house. 

Cash buyers don’t make these requests. Instead, they’ll take your house without you doing anything to it. They won’t even ask you to clean it when you move out of the home. 

5. You Won’t Pay a Commission

Another excellent benefit of selling to a company like this is that you won’t have to pay a commission. When selling through a real estate agent, you might have to pay a 5% or 6% commission to the agent that assists. 

Paying a commission eats up a lot of the profits you would’ve made, so you should know that you won’t have to pay a commission when selling your home for cash. 

The only thing you’ll have to pay from the proceeds is your mortgage loan balance. You’ll get to keep the rest of the money. 

6. These Companies Often Buy Sight-Unseen 

When you contact a company that advertises “we buy houses for cash,” you can request a quote from them. When you ask for a quote, they might not even want to see your home. 

Many of these companies ask for the address only to have a way to research a home from afar. While there are times they might want to take a peek inside a home, they don’t need to most of the time.

Therefore, if you’re worried that they won’t like your house when they see it, you can stop worrying. 

7. They Can Give You an Instant Quote

If you want to feel good about selling your house to a company like this, you may want to look up companies that buy houses for cash reviews. Reading reviews can help you select the right company to contact. 

When you contact a company that offers to pay you cash for your home, they might ask for a few details about the house. When they have everything they need, they’ll research your home and make an offer. 

They may call you or email you with the offer, and you’ll have time to look it over and think it through. If you decide to accept it, you can let them know. You also have the option of rejecting the offer if you’re not ready to sell.  

Consider This Option to Sell Quickly

Finding companies that buy houses for cash isn’t hard to do, as they’re around in most areas. If you’re interested in obtaining a quote from a company, find a company and ask them for a quote. 

Selling your house to a cash home buyer is a simple and fast process that results in closing on the deal within only one to two weeks.

If you enjoyed learning about cash home sales, check out the rest of our website for more interesting articles.