Tempted by Those We Buy Houses Ads? Weigh the Pros and Cons
“We Buy Houses for Cash!” the billboard proclaims. “We Buy Ugly Houses!” says the postcard that shows up in your mailbox, along with a cute drawing of a caveman-looking character. You’ve seen these signs and received their mailings for years, but now you’re in a situation where you need to sell fast and you’re wondering — what are the pros and cons of We Buy Houses?
These companies target homeowners in urgent or time-sensitive situations, such as an unexpected move to a care facility or a deceased family member. You don’t have time to make upgrades and repairs, and you may need the cash to move your family member. But no one wants to be taken advantage of, conned, or ripped off.
We Buy Houses companies are flippers who purchase properties “as-is” for cash and renovate them, generating a profit at resale. They are legitimate businesses, but there are some definite pros and cons to selling to them. Here’s what you should know before calling the number on that billboard.
What are the types of cash house buyers?
We Buy Houses operations are cash buyers or house buying companies that purchase homes directly from homeowners. There are three primary types of cash buyers: iBuyers, buy-and-hold investors, and fix-and-flip investors.
