Despite all the upheaval in the economy in the past year, homes are still selling quite well in Michigan. This area of the country is still experiencing a strong seller's market. However, selling a house in Michigan could take over 60 days. This includes the time it takes to get it in sellable condition, the time advertising and showing it, and the time it may take a buyer to go through the closing process. For some reason, your house doesn't seem to attract interest. There could be numerous things scaring buyers away from purchasing your home. Unfortunately, some of these things may be out of your control, such as your neighborhood itself and your home's lack of appeal. What can you do when you have a house on your hand that just won't sell? One good option is to work with a cash home-buying company. Here are some ways they can help you get your ugly house off the market and some cash in your pocket to get a new one.

 

Cash Home Buyers Help With Distressed Properties

Cash home buyers help various types of buyers that need cash quickly to sell their homes. But when their business model originated, the main groups of people they appealed to were those with distressed properties. You may have seen their marketing all over town with the phrase "We Buy Ugly Houses." In other words, they appealed to homeowners that couldn't sell because they didn't have money to fix it up, and the house didn't appeal to buyers.

 

Although their business model has expanded over the decades, this segment still represents a substantial amount of their clientele. Properties that have expensive issues, including plumbing, roofing, foundation problems, and more, can be purchased by such companies for cash. This gives the homebuyer some money to get a new start and relieves them of the burdensome ugly house.

 

You Won't Have to Stage Your House Or Invest in It

When you are ready to sell your house the traditional way, you will typically start by hiring a real estate agent. They will pull some comps in your area and determine the best features that made other homes sell in the local market. After reviewing these key features, they will encourage you to make these updates for your home. Of course, you don't have to take their advice. But the real estate agent will know what's best when it comes to getting your home off the market. Besides updates, they will encourage you to stage your home since a home staged with furniture attracts buyers more interest than empty ones.

 

When selling your home directly to a cash home buyer, you don't have to worry about this step. They take homes "as-is," which means that you don't have to fix your house up to try to appeal to them. They will assess the home's condition and provide you with a cash offer. Upon accepting the offer, you will receive your cash in as little as a week and up to 14 days.

 

You Won't Need a Real Estate Agent When Working With Them

Not only will you not need to fix up your house, but you also won't need to hire a real estate agent. So you don't have to worry about paying a commission to a real estate agent. Usually, these companies have property agents who will come to the property, assess the value, and make a cash offer. You won't have to go through all the steps and procedures involved in a traditional real estate sale which cuts the home selling time by many weeks. Additionally, during the "closing" process, you won't have to worry about any problems because what they offer is what you get. It's just a matter of completing the logistics and waiting for your cash to be handed to you.

 

How The Process Works

One great thing about selling your house to a cash home buyer is that the process is straightforward. Here are the three easy steps to selling your house for cash.

Meet With An Agent

First, you will typically meet with an agent. They will meet with you at your home and assess the property.

Receive the Cash Offer

After assessing the property, they will provide you with a cash offer on your home.

Accept the Cash Offer

If you're okay with their offer, they will get to work securing the funds for your offer.

In just three easy steps, you will be well on your way to getting cash for your home. The entire process could take up to two weeks.

 

Drawbacks to Selling Your Home This Way

There are many advantages to selling your home for cash. Unfortunately, there are also some disadvantages. Check out why you may not want to work with a cash home buyer.

 

You Won't Have Negotiation Power

One of the most significant problems you'll encounter when selling your house for cash is that you won't be able to change the cash offer. When selling the traditional way, if you don't like potential buyers' offers, you can make improvements to your home that could yield higher offers. Unfortunately, with cash home buyers, what they offer is what you get - take it or leave it.

 

There Could Be Hidden Fees

If you're thrilled that you don't have to pay a real estate agent a commission by working with a cash home buyer, don't go overboard with excitement. While you may not have to pay a commission to a real estate agent, you still may have to deal with hidden fees within the transaction that could be just as high as the commission. When working with such companies, it is a good idea to find out what these fees are before you sign on the dotted line.

 

The Company Could Be Scammers

Another disadvantage of working with cash home buyers is that some of them may be outright scammers. Many of these companies are legitimate, but a few of them aren't. These illegitimate companies may indulge in unscrupulous tactics to get you to sign over your home's title and not pay you for your home. This is why it is critical that you research the company you're working with and discover how long they've been in business, what customers are saying about them, and observe how they operate. If they don't want to commit to anything in writing, chances are they may be scammers.

 

How you decide to sell your home is up to you. Determine what your needs are and make a decision to sell your house the traditional way or for cash in Michigan. Both can be viable options as long as you protect yourself from unscrupulous businesses.