Have you driven down the highway lately and seen one of those ubiquitous “We buy houses for cash” signs? These advertisements are popular in L.A., but what do they actually mean? Who are these cash home buyers? Is it legit? And most importantly, is it something you might want to consider?
Who Are the Investors Buying Homes for Cash?
As the name suggests, cash house buyers are real estate investors who buy homes for cash and then use them to earn revenue. Depending on the investor, there are different ways to turn a profit, such as by:
- Reselling the homes at a higher price
- Flipping them and then reselling them
- Using them as rental properties to earn passive income
In order for the homes to be profitable, the investors typically buy them for less than full market value. However, consumers often appreciate the opportunity to get a quick, all-cash payment.
Are Cash Home Buyers Legitimate?
The market is legitimate, but not all real estate investors are reputable. When doing business with a real estate investment company, you have to do your homework. Look at their credentials and their experience. Read consumer reviews, look for consumer complaints, and consider the type of offer they give you.
Also, be wary of any red flags, like the following:
- The investor tries to pressure or intimidate you into selling
- The investor charges fees for their services
- The investor tries to make you pay for repairs or upgrades
A legitimate real estate investor will provide you with a hassle-free quote and take care of all the repairs for the house.
Should You Sell Your Los Angeles Home to a Cash House Buyer?
If you’re thinking of selling your property to one of the cash home buyers in L.A., it ultimately depends on your situation. This process often appeals to people who need to sell quickly, like those going through a divorce, a bankruptcy, or an impending foreclosure.
In many cases, the people who sell their homes to these investors are just people who don’t want to spend 6 to 9 months playing the real estate game. They just want to sell their home and move on with their lives.
Get Fair Home Offers is L.A.’s premier cash home buyer. When you sell to us, you can enjoy the following benefits:
- A straightforward, no-hassle cash offer in as little as 24 hours
- A fair, competitive offer based on the After Repair Value (ARV) of your home
- No real estate commissions (agents usually take 3-6%)
- No repairs, upgrades, or cleaning required
- An all-cash payment in as little as 7 days
We buy houses in Los Angeles as-is, so you don’t have to worry if your L.A. property is in disrepair or riddled with code violations.
If you need to sell your Los Angeles-area house fast, give us a call at (626) 817-3351!