The Richmond housing market is hot and pretty houses sell fast. If your house is in great shape, listing it with a real estate agent makes sense for you. However, if you don’t want to deal with the hassle of hosting open houses and dealing with potential buyers who may not be able to get their financing or have their inspections fall through, selling to a company that buys homes for cash is a good option.
A company that buys homes for cash is able to close the deal within days or weeks. It can also purchase your home in as-is condition, which saves you money on repairs. Moreover, it doesn’t charge any realtor fees or commissions. This is in contrast to traditional home sales, which typically require you to pay a 6% commission.
Cash home buyers in Virginia are investors who can make a quick decision and purchase your property for cash. They typically offer 30% to 70% of the fair market value (FMV) of your home. They can even pay you for your mortgage and any other debts associated with the property. Moreover, they can close on the date of your choice.
Many homeowners spend more than $14,163 on costly home improvements like roof and foundation fixes to increase their property’s FMV. However, these expensive investments often fail to deliver the expected returns. Fortunately, you can avoid this expensive rigmarole by selling your property to a local or national cash buyer on an as-is basis.
In 2023, 29% of real estate transactions in the state of Virginia were all-cash. In addition, most companies that buy houses for cash in the Old Dominion have a strong reputation and high customer ratings. Hence, it’s important to choose a company with a good track record.
The best way to find a local or national cash buyer Richmond Cash homebuyers in Richmond is to list your property on an online MLS marketplace that connects you with qualified buyers. Moreover, Houzeo offers a flat fee MLS listing service, which helps you save thousands in realtor commissions. It also connects you with local and national cash buyers who can compete for your property.
Another popular choice for sellers in the Richmond area is to sell their home to a local house flipper. These investors are always on the lookout for properties that can be renovated and resold for a profit.
However, it is essential to know that the law in Virginia requires that sellers maintain their property until closing. This means that they must keep the house in good condition and notify the seller of any needed repairs. It is also a good idea to include the estimated cost of these repairs in the sale contract. If the seller fails to comply with these requirements, they can be liable for legal liabilities. This is why it’s essential to consult a local attorney before signing an as-is sale contract.