If you are a homeowner in Georgia looking to sell your house, you have probably heard about “We Buy Houses” companies in your area that make cash offers on local Georgia properties. You might be wondering if these businesses are legitimate, or just real estate scams: HOW and WHY would a company pay cash for my house? It’s always smart to be cautious, especially when you are making real estate decisions, so it’s good to ask these questions. To help you with the answers, we’ve made this guide to “We Buy Houses” companies in Georgia: how they work, what to expect when selling to them, and how to avoid scams.
What are “We Buy Houses” companies?
If you ever come across a business that uses the phrase “We Buy Houses” in their company name or their marketing, they are probably a cash house buyer. This is a growing real estate business in Georgia and in the U.S. These professionals go by many different names, such as cash house buyer, real estate investor, or iBuyer.
Regardless of what they call themselves, companies like this in Georgia generally fulfill the same role: they buy local houses in any condition at a slightly reduced market value. While a lower selling price may leave you wondering why Georgia homeowners would choose this selling method, these “We Buy Houses” companies offer ease, convenience, and some savings for sellers. They operate with varied business models, but the largest benefits are generally the same.
These companies buy Georgia houses:
- as-is in any condition
- with fast cash payments
- without additional fees or closing costs
- without listing with an agent
This means that sellers can bypass the traditionally expensive and time-consuming selling process and instead get cash for their Georgia property within a month. For sellers who can’t or don’t want to invest time and money into the traditional selling process, the convenience offered by “We Buy Houses” companies often outweighs the final selling price.
What to expect when working with a “We Buy Houses” company
Most cash house buyers employ similar buying processes. It begins with you, the seller, requesting a cash offer on your Georgia house. This request is usually free, with no obligation to accept, so you can back out at any time. You may fill out a request form that asks about the condition and location of your property. Following your request, you may be contacted by the company in order to set up a meeting or to answer any additional questions. After that, you will usually receive a cash offer for your house within a few days. If you accept the offer, you should close with an attorney and a representative from the buyer and walk away with cash in hand.
However, depending on the company that you chose to work with when selling your Georgia property, your experience can vary. For example, choosing to sell to an iBuyer can mean that the sale is conducted entirely online, and your house may have to be in fair to good condition in order to qualify. On the other hand, if you seek out a company in your Georgia area, you will likely work directly with the business and a local attorney both in-person and over the phone. The method of each company is different, so think about how you want the sale to be handled and look into the different options to see which you prefer. You can even contact companies to ask about their buying process and what you should expect if you sell your house to them.
Things to Look For When Selling to a “We Buy Houses” Company
If you decide to sell your house for cash, you want to make sure that you pick a reputable company to do business with. Here are a few things to look for when considering your options:
- Accredited Business: It’s best to look for companies that are accredited with the Better Business Bureau or the local chamber of commerce. This confirms that the business you are working with has been professionally approved.
- Testimonials and Reviews: Good businesses are more likely to have good reviews. Look at the company’s BBB or Google Business profile to see what previous customers have to say about their experience. If the business is newer and doesn’t have many reviews, ask about their experience buying houses for cash in Georgia, if they have proof of funds, and if you can request information about their buying history from an attorney that they have previously closed on home sales with.
- Contact Information: It’s always going to be easier to do business with someone that you can actually talk to, so does the company have contact information available? Do they reply promptly to inquiries? It’s always a plus when you can get a real person on the phone to answer any questions you have, so make a call to any company you are considering to ask about their process and experience buying property in Georgia.
- Contract Terms: It is good if you are able to see beforehand what the contract terms are for selling to the company. This shows you exactly what the terms of the sale are, and that the company has legitimate paperwork and processes.
Things to Avoid When Selling to a “We Buy Houses” Company
To avoid working with a disreputable company, here are a few things to keep an eye out for to make sure you aren’t being scammed.
- No Online Presence: It is always reassuring when you can look on a company’s website and see the people who are behind the business. On the other hand, it’s alarming when you get an email from a business interested in buying your house but can’t seem to find a website or reviews for their company. Seeking out a buyer who has a clear online presence is one of the quickest and easiest ways to make sure you are working with a legitimate company.
- Closing Without Attorney: In Georgia, all real estate closing must be overseen by a legal professional. Do not do business with a company that attempts to close without the presence of an attorney, and do not sign any contracts at a closing that has no legal professional present.
- Asking for Upfront Fees: Cash home buyers make their offers for free. A reputable or legitimate business should never ask you to pay a fee for their offer.
- Not Seeing the House: A good cash house buyer will usually want to see the property they are making an offer on before they actually calculate the offer. There can be exceptions to this rule, but if a company says they want to buy your house but don’t want to see it in-person, it is often a red flag.
- Asking for Inspection After a Contract: Legitimate cash house buyers should not ask for inspections to be done on the house after they make their offer and you have signed a contract. Inspections should be handled by the business before their offer is made. Asking for an inspection following the contract could be an underhand way to lower their offer.
Summary
There are definitely things to be cautious of in the world of “We Buy Houses” in Georgia companies, but it is also important for home sellers to know the benefits of these companies. For some Georgia homeowners, “We Buy Houses” businesses offer a quick and easy way to offload burdensome properties. If ease and convenience is more important to you than a higher selling price, then seeking out a reputable “We Buy Houses” business might be for you. But it’s also important to be aware of any potential scams, and to know how to spot disreputable companies who are looking to take advantage of sellers. As long as you do your due diligence to ensure you are working with a legitimate Georgia house buyer, working with a “We Buy Houses” business might be the best way for you to solve your real estate problems.