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How to Sell Your House Fast to the "We Buy Houses" Guys, Safely
If the current housing and economic chaos has suddenly caused you to see those little yellow signs and big billboards that say, “We’ll Buy Your House,” you probably need to sell your house fast, and you may be wondering who these guys are with the signs and can they really be of any help.
Signs have been around for probably three decades, but like everything else, you only see things that have immediate meaning to you. While anyone can buy and sell homes in the United States, most people only buy and sell the home they live in or plan to live in.
Buying houses without the expectation that you live in them really took off as a business about 30 years ago when several seminar speakers criss-crossed the county selling training on buying and selling houses for a profit.
As with any business, you can expect some homebuyers to be qualified, honest professionals, while others are less qualified and some you’d rather avoid.
The bottom line is that some of these people can really help you sell your home quickly, sometimes in days, and solve problems. Others, I’ve found, don’t even return their phone calls and won’t call you back if you call and leave a message. Strange as it may seem, I have found this reluctance to follow up with a prospect occurs in a number of sales areas.
So the first thing I would suggest when choosing a Home Buyer is to call a few, see who answers the phone, and see who comes to your home and comes when they have agreed to come. Not high tech, but a good start.
Who am I to tell you how to deal with these guys? I am one of them and have been involved in creative real estate in Florida for two decades, formerly a stockbroker and financial reporter for the Chicago Tribune. It’s like going to a hacker to learn how to make your computer secure.
And as one of them, let me assure you that there are good, competent people out there who can raise the money you need to buy and know how real estate works in your area.
There are also, and always will be, waves of new people learning how to buy houses, and some of the people who need to sell a house quickly will help these newbies learn the trade.
In addition to finding out if they answer the phone and actually arrive at the agreed upon appointment time, I would like to know how long this person has been buying homes and how well they are doing it. In the second part of this series, we’ll look at their vetting methods, and in the third article, we’ll look at the phrases in the contract they offer you that you might want to avoid.
One of the biggest advantages that the best of these guys and gals will bring to the table to help you is that they have been taught that there are several ways to sell a home, techniques that have been used in commercial real estate for years but are rarely are used in residential real estate.
I learned these creative techniques the hard way twenty years ago when I lived on the east coast of Florida and unbeknownst to me bought a house in an area where a garbage incinerator was planned to be built. It was to be built about a mile from where my house was, and when I was ready to sell the house to move to the Tampa Bay area, I couldn’t sell.
Everyone knew about the plans when I was ready to sell and no one wanted any of the houses in my neighborhood. I finally left the house with the real estate agent and moved out, paying the cost of two houses.
Although many real estate agents do not like creative real estate, my agent was knowledgeable and offered a way to sell my house. We were scarred but after thinking about it we sold and it worked out fine.
There was risk in what I was doing then, and there is risk in any creative solution to selling real estate, but my experience eventually led me to the We Buy Houses business, and in the next few articles we’ll tell you how it can help you and discuss risks.
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