Cash For Houses In Central Texas – Is it right for you?

You’ve probably noticed the signs on nearly every street corner or off-ramp: “Cash for houses in Central Texas.” Some are brightly colored or cartoonish, while others might be handwritten and tacked to a light pole. Many of these “cash for houses” signs promise to buy homes in any condition, offering competitive rates and quick, all-cash deals.

If you’re looking to sell your home, this might seem like an ideal way to make a quick sale without the hassle of preparing the property for showings.

Is Cash For Houses In Central Texas Right for You?

The Cash for Houses in Your Target Market

The people and companies putting up these signs are investors looking for quick deals on undervalued properties. By posting these signs, they can reach homeowners eager to sell fast, saving time on searching for distressed properties.

Their main target is homeowners dealing with financial difficulties, such as those facing bankruptcy, foreclosure, medical expenses, divorce, or homes in severe disrepair. They also aim to find properties in probate, vacant homes, or listings nearing expiration.

The Thoughts Process Behind the Offer

Since investors are looking for properties they can quickly renovate and resell for profit, they seek motivated sellers and distressed properties. For you as the seller, this may or may not be the best option. The buyer aims to relieve your burden quickly, knowing you likely have an urgent reason for needing a fast sale.

As a result, the offer may only cover the remaining mortgage balance, regardless of the home’s actual value. Typically, investors aim to buy properties at wholesale prices, often at least 30 percent below fair market value.

Consider Your Position Before Negotiating

Remember, owning a home comes with ongoing costs. You’ll need to keep up with mortgage payments, insurance, and property taxes as long as you own it. Delaying a sale also means continuing to pay for utilities, maintenance, and upkeep.

Do the math and consider how long homes typically take to sell in your market. At the average price, will you be able to cover the ongoing costs of maintaining the home during that extended period?

You might also need to sell quickly due to an upcoming foreclosure or estate tax requirement. Keep these factors in mind as you review offers from buyers.

Maximizing the Sale Value

It doesn’t take much research to get a sense of a property’s fair market value. If you want a clear picture, you could spend a few hundred dollars on an appraisal or talk to a local realtor who can estimate your home’s value in its current condition.

Once you know your home’s estimated value based on the current market, consider what can be done quickly and affordably to improve the property and boost its value.

Do what investors would do: clean the home inside and out, making sure windows and screens shine. Remove weeds from the yard and trim trees and bushes. Replace the carpet, tile the bathroom and kitchen, and repaint both the interior and exterior.

Investors often renovate kitchens and add new appliances to increase the property’s value, allowing them to make a profit even when buying at 30% below market value. You don’t have to go that far, but if you have the time and money, it could be a worthwhile investment.

The bottom line is, if you can afford to wait longer to sell, you may be able to find a more traditional buyer who will make an offer that puts more money in your pocket.

Need to sell your home fast? If you’re looking for an all-cash offer and a quick closing, fill out our online contact form or call us at 512-230-3469 today!