Are These "We Buy Houses" Sign in Syracuse NY Legit?
You’re driving around Sunday afternoon and you see a "We Buy Houses" sign attached to a telephone pole.
You are in a position in your life right now when you are looking to sell your home but you figure there is no way that you are going to trust a phone number that is attached to a telephone pole.
Your thinking there is no way that "these people" will be able to actually purchase my house.
So you just just shrug it off.
Next week, you are driving home from work and you see the same sign but in a different location.
You haven't paid your taxes in more than 2 years and have had a hard time keeping up with the maintenance of the property since your wife lost her job. You understand that you need to sell your house fast but do not know the best way to go about it.
So you pick up the phone and call the "We Buy Houses" sign.
Who is on the other line?
What do they actually do?
Can they really buy my house?
Is it a scam? Or is it a hassle free solution
Let's get into some of the details so you can find out the answers to these questions and see if this may be a solution to your real estate problems.
Who Are The "We Buy Houses" Sign Guys
To keep this fairly simple, the person / or business on the other side of that phone number is a real estate investor or a real estate investment firm.
But, lets elaborate on the term "real estate investor" a little because there are different vehicles real estate investors use to gain control of property.
1) The Wholesaler- The most common type of real estate investor you will find behind the "We Buy Houses" signs in Syracuse NY are wholesalers.
Wholesalers are individuals or a business that are on the search for deeply discounted properties.
These wholesalers are not actually on the market to purchase your home, but there main goal is to put your property under contract and assign that contract to real estate investors who actually buy’s houses.
Now, I want you to understand that these wholesalers can still help you if you are in situation where you need to sell your house fast since they typically have access to a large list of cash investors who will be willing to purchase your property if the numbers work.
Wholesaler's make their money by charging an "assignment fee" to the cash buyer in exchange for turning over control of the contract.
However, we do want you to be somewhat cautious because not all wholesalers are built the same. Some are newbies just starting out, some have only done 1 deal, while others have done 10 - 100 deals in their careers.
So if you reach out to a "We Buy Houses" sign, ask them a couple questions.
Do you actually buy houses or are you a wholesaler?
If a wholesaler, how many properties have you wholesaled?
This will give you a better idea if you should move forward with the conversation.
2) The House Flipper - The second most common type of real estate investor you will find behind these signs will be house flippers!
There is 1 common theme with all of these real estate investors and that is the search for deeply discounted properties.
House flippers are individuals or businesses who are in the market to purchase deeply discounted properties, add value through calculated repairs and sell for top value.
These are the folks that can actually purchase your house and in our opinion offer you a hassle free transaction. Since they will be purchasing your house in cash, they offer several benefits including:
Closings in 14 days
No extra repairs on your home
Zero to little negotiation
No real estate commissions
Check in 14 days
No dealing with banks
No open houses
No extra holding costs
No hiring a real estate agent
3) The Landlord - The least common type of real estate investor you will find behind these signs will be your landlord.
The landlord has the ability to offer the most money for your property but will not necessarily be willing to pay all cash for your property. Some of these landlords will be looking to put your property under contract at a discount (10% - 40%) of the full market value and finance the property through a conventional lender / private money or hard money loan.
Although this type of real estate investor may be able to offer you the most money for your property, most of the times they may not be able to offer you the beneficial terms of a cash offer.
Wrapping Up| We Buy Houses Signs in Syracuse NY
We hope that we were able to educate you on the potential individual or business you may find on the opposite side of that sign. We want you to understand that if you are in a position where you need to sell your house fast, the right real estate investment firm will be able to assist you. If you do end up testing out this specific solution, make sure you ask a couple key questions to find out exactly who you are dealing with.
If you are looking to sell your house fast to a trustworthy real estate investment firm give us a call at (315)516-8023 or you can simply start the process below.
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