Selling a home quickly is a priority for many homeowners, and the option of cash home buyers has emerged as a popular solution in the real estate market. Understanding what these buyers look for in a property is crucial for a smooth and efficient selling process. In this roundup blog, we've compiled essential insights into the key aspects that cash home buyers prioritize when evaluating potential properties, ensuring you're well-prepared to make a successful deal.
The Importance of Knowing Cash Home Buyers' Preferences
Cash home buyers play a significant role in today's real estate landscape, with cash transactions accounting for a substantial portion of residential property sales. With a better understanding of the factors that sway these buyers, you can evaluate your property to see if it meets their requirements, making the selling process smoother and more successful for both parties involved.
What Do Cash Home Buyers Look for in a Property When Buying a Home?
Here’s what our cash home buying experts had to say about what they look for when buying a home or property.
Situations Where We Can Provide Solutions
A property or a situation where we can provide a solution. Typically, it is repairs that the homeowner doesn't want to do or is not qualified to do. When a home needs these repairs, it is very difficult to sell for top dollar on the MLS. Sometimes it is the situation though. We look for people who are in a tough spot. Is the owner behind on payments and needs to sell ASAP? Did they inherit a house, and they have no clue what to do with it? Are they going through a divorce and need to sell to finalize things? We look to provide solutions!
Stephen Haynes - Morristown, TN
The Ability to Buy Quickly
Cash home buyers typically look for properties that they can buy quickly and without hassle, often targeting homes that need repairs or have been on the market for a while. By fixing up these properties, cash home buyers can increase the value of these homes and make a profit. In essence, cash home buyers aim to solve problems for sellers and improve the homes they purchase.
Jim Stewart - Virginia Beach, VA
Potential for Profit
Cash home buyers evaluate the costs of repairs needed and estimate the potential sale price after fixing up the property. They look at the essential aspects like the roof, foundation, plumbing, and electrical systems. Additionally, they consider the current market trends and comparable property sales to make sure their investment will bring in a profit.
Corey Lavinder - Nashville, TN
Distressed Properties with Good Bones
In the current market, the cash home buyer is looking for distressed properties with good bones. I steer clear of major termite damage, significant foundation problems, and long-standing water damage, but an original 50s kitchen or an overflowing dusty closet are opportunities to add value. Also, anytime there is an obvious way to add another bedroom or bathroom, I'm interested!
Katrina Stratton - Anderson SC
Open Communication
Opportunity for improvement. If your property is in "market ready" condition, a cash buyer is not likely to be your best choice. Secondly, cash buyers value open communication. Real estate transactions have a lot of money involved and can create high stress situations; the best outcomes usually come when both parties work together toward a clearly articulated common goal.
Sam Ferguson - Tri Cities, TN
Value That Can Be Added
Ways in which value can be added. New roof, windows, siding, flooring, kitchen, bathrooms, moving walls, changing layout, converting a garage or carport into livable space, etc. Also, we look at the positive aspects of the property, such as being in a good school district or having a large yard, and the negatives, like dealing with difficult neighbors or a steep driveway or many steps.
Tom Winspear - Knoxville TN
Desirable Location
Cash home buyers prioritize the location of a property, considering factors such as neighborhood desirability, proximity to essential amenities, and overall market demand. They look for properties in areas with potential for growth and development, as well as those situated in promising or established neighborhoods. Additionally, they assess the property's capacity for value addition, seeking homes that offer room for improvements and upgrades, such as renovations, expansion, or modernization.
Juan Varon - Raleigh, NC
Older Properties in Need of TLC
Cash buyers look for properties that need TLC, updating of older systems (HVAC, electrical, plumbing), and need new life to be put back into the property. Additionally, cash buyers look for sellers who have plenty of pride in their home but may be facing a life situation that calls on them to sell to someone they trust that will take care of a home that has been in their family for years.
Chance Lewis - Charlotte, NC
Open Minded Sellers
We look for properties that have a potential to be great family homes and sellers that are willing to be open minded when looking for solutions.
Jessica & Tony Hollingsworth - Jackson, MS
Looking to Sell Your Home for Cash? Contact the Cash Home Buyers at New Again Houses Today!
When you sell your home to New Again Houses, there’s no waiting, no contingencies, no banks, and no need to fix or clean up the house. We buy houses with cash in as-is condition, and we can close in as little as 7 days. New Again Houses also pays all closing costs, helps with the probate process, and solves all the problems you run into when selling a home or property.
New Again Houses® was founded in 2008 as a way to transform old houses into new modern homes through a culture of innovation, ownership, and win-win relationships. For homeowners looking to sell their home fast and sell their home for cash, New Again Houses is the perfect place to get started! Contact New Again Houses today and sell your house in any condition!