Every day, thousands of home buyers go to a house buying company hoping for an incredible deal on their dream home. Unfortunately, many don’t realize there are several common misconceptions about how these companies work. Here are the most frequently held misconceptions:
A house buying company is a type of real estate agent on commission
Many home buyers contact a buying company with the expectation that they can benefit from the connections and negotiation skillset of a real estate agent. What they don’t realize is that these companies have no legal connection to the real estate market; while some may have connections to prominent investors, most simply purchase homes directly from homeowners without any involvement beyond being interested parties. Want to connect with us? Find us at https://www.thecashoffercompany.com/.
House buying companies: preying upon customers
Many home buyers mistakenly assume that house buying companies exist solely to take advantage of customers in need, preying on their desperation to buy a property. But this couldn’t be further from the truth; most house buying businesses are operated by hardworking individuals who strive to help those in need find new housing – even when it’s impossible.
House buying companies Work For Home Sellers
It can be easy to misunderstand how house buying companies work when you think that they are in the business of helping home sellers sell their properties. While some are run by individuals who once sold their own homes, most house buying companies do not represent either buyers or sellers but instead work with investors who then resale these homes through traditional real estate channels.
House buying companies use deceptive back-end fees
While some house buying companies do charge hidden costs that are added onto the final cost of a home, these costs tend to be quite reasonable. Most house buying companies charge an annual fee for their service and in exchange they handle all the hassle involved with finding and purchasing a new residence as well as any legal paperwork associated with purchasing this home.
House buying companies don’t guarantee great financing
A common misconception is that people can get excellent financing through home buying companies. Unfortunately, most of these firms do not provide great options for their customers; instead of acting like traditional banks and approving or denying loans based on an applicant’s credit score and income, most house buying firms purchase properties immediately upon receiving an initial down payment.
