Cash Home Buyers North Carolina: The Ultimate Guide for Sellers
North Carolina is home to some of the hottest housing markets in the country. In a recent U.S. News ranking, Raleigh, Durham, and Charlotte all landed in the top five. The state’s strong buyer demand, coupled with rising interest rates, is leading to an increase in all-cash home purchases. As a result, homeowners considering selling their properties may find the current market particularly advantageous for receiving cash offers.
In this guide, we’ll explore effective strategies for finding reputable cash home buyers in North Carolina. We’ll also discuss the process of selling your home for cash, the most active cash buyers in the current market, and how much they’re willing to pay.
Disclaimer: As a friendly reminder, this blog post is meant to be used for educational purposes, not legal or tax advice. HomeLight always encourages you to reach out to your own advisor.
How to find cash home buyers in North Carolina
Looking to sell your home quickly and without the hassles of the traditional market? Cash buyers might be the solution you’re searching for. Here are several strategies to connect with credible cash home buyers in North Carolina who may be willing to extend a fair offer for your property.
Work with a reputable local real estate agent
Even if you’re leaning towards a cash sale, partnering with a knowledgeable local real estate agent can be beneficial. Agents typically have connections to cash buyers actively seeking properties like yours. By working with an agent, you can avoid the time-consuming process of vetting numerous potential buyers yourself.
Real estate agents understand the market dynamics and can facilitate faster, more efficient sales, potentially even fetching better offers through their negotiation skills. If you’re not already working with someone, HomeLight can connect you with top agents in North Carolina. Keep in mind that you will still be on the hook for real estate commissions unless you opt to sell to an iBuyer or a “We Buy Houses” company, for example.
Focus on investors rather than owner-occupiers
North Carolina is a top market for real estate investment. Seeking out investors, rather than individual cash buyers, tends to be more lucrative. In recent years, institutional investors have gained a foothold in the state, purchasing single-family homes in mid-priced areas that they can fix up and rent out.
Recent reporting by The Triangle Business Journal indicates that 19% of single-family homes in the Triangle are owned or managed by investors. Similarly, a 2023 report by the Urban Institute found that institutional investors own roughly 24,000 single-family rentals in Charlotte, representing approximately 20% of the city’s total single-family rental market.
To attract investors, be they mom-and-pop or hedge funds, consider listing your property on investment platforms or attending local real estate investing meetups. You can also request no-obligation cash offers from “We Buy Houses” companies in North Carolina. However, be aware that many of these buyers, especially house flippers, adhere to the 70% rule — offering around 70% of the home’s after-repair value minus any repair costs.
Do your due diligence
When dealing with cash-for-homes companies, it’s crucial to verify their credibility to avoid scams. Check out the Better Business Bureau (BBB) to see their accreditation and ratings. You can also reach out to a local chapter, such as BBB of Central and Northwest North Carolina, BBB of Southern Piedmont and Western North Carolina, or BBB of Eastern Carolinas.
Reading reviews on platforms like Google, Yelp, Facebook, and Trustpilot can also provide insight into the company’s reputation and customer satisfaction. Confirm they have a solid track record, appropriate licenses, and can provide customer referrals. Doing thorough research helps safeguard your home sale and ensures you work with a legitimate, reputable cash buyer.
Before signing an offer, ask for proof of funds
It’s essential to confirm that a cash buyer has the necessary funds to proceed with the purchase. Ask potential buyers to provide proof of funds, which can be a recent bank statement or a letter from their financial institution verifying their ability to pay. If a buyer hesitates or fails to provide this proof, consider it a major red flag. Working with a buyer who can substantiate their finances, ideally in a timely manner, helps ensure a smoother sale.
