“We Buy Houses” companies are not all created equal. Typically, there are real estate wholesalers and cash buyers. One is a simple, seamless process, and the other requires a few more hoops to jump through. This short article will help you decide which house-selling option is best for you!
Real Estate Wholesaler
Real estate wholesalers are more the “middleman” when it comes to buying and selling properties. When they place an offer, it is contingent on them finding another buyer for the property. This process puts the property you are trying to sell under contract until they find another buyer. The buyers they usually look for are cash buyers or investors.
Due to the contract, the wholesaler never really “buys” the property. They negotiate a lower price first and hold it contingent until they find someone else to pay more for the property. They earn their money from the difference between the contract with the seller and the final sale price.
Pros
- Access to a network of buyers. Wholesalers can get your house sold once they find the right buyer. These can be cash buyers or investors.
Cons
- Usually tries to buy houses for as little as possible. They need to make money, too. So, usually, you won’t necessarily get what you expect for your home, and it might be significantly under market value.
- Can’t guarantee the sale. A contract with a wholesaler does not mean they are buying the house and taking it off your hands. Instead, it means they will do their best to sell the house.
Cash Buyer
Cash buyers, like WCC Properties, buy houses fast, typically faster than a real estate wholesaler. A cash buyer isn’t looking for another buyer and placing the property under contract for an extended period of time. Instead, a cash buyer has the financial capital to purchase properties outright. This means they can give an offer and, once it is accepted, close in less than 30 days.
By having cash on hand, a lot of the red tape with financing a house is gone. The process goes from offer to closing within a week.
Pros
- Quick, seamless process with less paperwork. Cash offers mean less paperwork. They don’t have to worry about underwriting a mortgage and going through that 30+ day process to make the sale or to find a buyer.
- No inspections are typically required. Once a cash buyer checks out the house, they usually know what they are getting into, so they don’t require a house inspection. Cash buyers will take the house as-is.
Cons
- Harder to get connected. Sometimes, cash buyers don’t have the network to find the right houses for them. It’s best if a seller reaches out to them directly.
- Sometimes selective. While cash buyers are more financially independent, they sometimes need to be more selective with the properties they do decide to provide an offer.
At WCC Properties
You work directly with the WCC Property team to get a quick cash offer for your house. You can sell your house fast. Once you have an appointment and the team checks out your property, you will have a cash offer in less than 24 hours. Once you get the offer, you can close in as little as 48 hours. For the Fort Wayne area, they are the cash home buyers to use if you want to sell your house fast!
