August 2019 - Hometown Development

If you’ve decided that accepting a cash offer is the best way to sell your home, you’re likely already familiar with the benefits. You don’t have to make repairs, you don’t have to worry about inspections, and you should be able to move on from your home quickly. But, what about accepting that cash offer?

There are indeed shady investors out there. It’s tough to trust every cash offer you see, which is why we always encourage homeowners to do a little bit of homework before they accept an all-cash offer for their home. If you’re ready to accept a cash offer for your home as-is, here are a few things to look for from the person or company who will be purchasing your home:

No Upfront Fees

One big red flag to take note of is if the buyer asks for any fees or cash from you upfront. If they have an application fee or require money from you in any way before they purchase your home, you have a right to be wary. Most professional real estate investors don’t require an application fee, and in fact, cover the majority of extraneous fees involved with the home sale process. That brings us to our next point:

No Additional Closing Costs or Fees

Most reputable real estate investors don’t require you to pay anything. They’ll subtract any necessary transfer taxes and the cost of the title insurance from your offer, but otherwise, you shouldn’t have to pay anything.

If someone is offering you cash but requires a number of fees and closing costs upfront first, you may want to look for a different buyer. Reputable developers and investors will work to make the closing process as simple and as inexpensive as possible for you. If you feel you’re getting nickel and dimed on a bunch of fees that you’ve never heard of, you might want to do a little more research on your buyer.

No Contingencies

The nature of an as-is cash offer is that the buyer is purchasing your home as-is. That means there should be no purchasing contingencies based on the condition of your home. Ask your buyer to explain their offer thoroughly.

How did they arrive at the number they’re offering you? And is there any reason their offer wouldn’t go through?

Reputable real estate investors will tell you that your offer is based on the market value of your home, and since they’re purchasing your home as-is, nothing regarding its condition should be grounds for terminating the sale.

Closing On Your Schedule

Another key benefit of accepting an as-is, cash offer for your home is that you should be able to close in a time frame that’s convenient for you. Reputable real estate investors can help you close in as little as five days, so long as there aren’t several outstanding liens on your home.

Quality cash buyers will work with you to make the closing process as easily as possible. If your buyer isn’t willing to work with your schedule and seems inflexible about your options in the closing process, you might want to reconsider their offer.

A Legitimate Business

The best way to protect yourself from a scam or a bad offer is to do as much research as you can on the buyer. If you can find a website and reviews about their company, both on their website and on sites like Google, then you know they’re a legitimate business with a reputable history. If all you have is a phone number for the buyer, do a little more digging. If you still can’t find anything on them, you might want to look for other offers from established companies you can trust to deliver on their offers.

Accepting a cash offer for your home is a great way to move on from a troublesome property with minimal hassle. It’s just important to remember to do your research before you accept a cash offer. There are many legitimate real estate investors out there who are sure to be interested in your property — you don’t have to settle for an offer that doesn’t seem quite right.

For a cash offer you can trust, call Hometown Development. We’re purchasing and remodeling homes in the West Michigan neighborhoods we love, and we’d be happy to make a fair cash offer for your home. To talk about a cash offer for your home, get in touch with us online or give us a call at 616-379-3090 today.

Buying a home is never easy. You have to find the right location, the right size home, with a layout that makes sense for your family, and it has to be within your budget range. That’s a lot of qualifications, and if you’re looking at older homes, it can be hard to find a property that meets all of your goals without renovating or making big updates. But there is a solution.

Have you considered buying a remodeled home from a developer or real estate investor?

Professionals like the team here at Hometown Development often purchase properties in great areas that need a little love. We then restore and remodel those homes to fit the needs of the modern homeowner. For you, the buyer, this means you have the opportunity to purchase the home of your dreams, in the location of your dreams, without ever having to lift a finger.

If you’re new to the idea of buying a professionally remodeled home, here are just a few of the benefits that come from purchasing a home that’s already been renovated:

Worry-Free Move-in

The most obvious benefit of purchasing a professionally remodeled home is the ability to move in immediately, without any real worries. If the home has been remodeled by professionals, you won’t have to wait for homeowners to move out or clean, and you can rest easy knowing that the condition you saw the home in when you toured it is the condition you’ll get when you move in.

Good Bones

One amazing benefit of buying a remodeled home is that you have the opportunity to purchase a house that has all of the brand new luxury details and appliances you love, with the history and charm of an older home. It’s true when they say that they don’t build ’em like they used to.

If you’ve always loved the look and layout of historic homes, but have been wary of the upkeep and maintenance an older home often needs, a professionally remodeled home may be the best way to get you everything you’re looking for without putting in the work.

Quality Finishes & New Appliances

If you’ve been looking for houses for a while now, you’re familiar with the disappointment that comes when you find a beautiful house with old, outdated finishes and appliances. Finishes like countertops, flooring, appliances, and even lighting are often the most expensive and most noticeable aspects of a new home.

When a home is remodeled by professionals, those are some of the first things they’ll change. They know a homeowner wants to move into a home with beautiful finishes and upgraded, energy-efficient appliances. That’s one less thing you have to worry about when move-in day comes around.

Quick, Professional Closing

There’s nothing worse than discovering the home of your dreams only to immediately become trapped in a long, complicated closing process. When you purchase a home that’s been professionally remodeled by home investors, you remove all of the worry and hassle from that process.

Professional renovators and investors want to sell the homes they’ve completed, and the good ones will have taken care of any complications with the home’s finances first, to ensure that they can sell the home in a reasonable time frame. They’re motivated to sell which means they’ll work to make the closing process easy on you.

No Renovations, No Hassle

It’s often frustrating to think about buying a house that you’ll just have to turn around and put more money into. A great benefit that comes with purchasing a professionally remodeled home is that all of the work is done. If the home had issues with outdated plumbing or electrical, the renovator will have sorted out those issues.

What’s more, home investors and professional remodelers keep a close eye on current home trends. That means they know what’s popular- whether it’s an open floor plan, quartz countertops, or a beautiful fireplace – and they’ll have worked to incorporate that into the home’s renovation.

Bottom line? You end up with a home that’s in great condition and remodeled to fit the needs of the modern homeowner.

Remember: Always Do Your Homework When Buying Any Home, Remodeled or Not

As home investors and professional remodelers ourselves, here at Hometown Development we always encourage home buyers to do their homework before signing on any home, but especially with recently remodeled homes. While we always pull the proper permits and work to ensure that every one of our homes is remodeled according to the latest code requirements, we know that there are “flippers” out there who aren’t taking the same professional precautions.

If you’re buying a recently remodeled home, it’s always a good idea to look into the company who has completed the remodel and make sure you’re looking closely at every change they’ve made to ensure the work was done according to your area’s code requirements. And with any home that you plan to buy, always make sure you have a qualified, trusted home inspector come by to complete your inspection before you make the final decision.

Buying a professionally remodeled home is a great way to get a beautifully restored historic home in the neighborhood of your dreams. If you’re interested in a professionally remodeled home here in West Michigan, take a look at some of Hometown Development’s ongoing projects, contact us online, or give us a call at 616-379-3090 for more information.

Month: August 2019

What to Look for in a Cash Offer For Your Home