Have you ever heard that old adage, “one shoe doesn’t fit all?” It applies to how to find cash buyers quickly.
There’s more than one good way to do it. Here are the five easiest ways to find a cash buyer for your home.
The best ways to find cash buyers can be divided into three categories:
• Free and fast
• Pay for instant access
• Spend time, not money
Free and Fast Cash Offers
If you’re like me, anything that allows you to skip lengthy calls is worth considering. But, everything has some cost. Here, it may come in the amount you’re offered.
1. Instant Offer Websites
You can get an offer in as little as 24 hours. It’s fast. It’s free. And, all you have to do is answer a few questions online.
Instant Offer Sites:
• Zillow Offers
• Simple Home Offer
• Opendoor
• Offerpad
• Knock
Who’s it best for?
These platforms make it simple and easy to quickly sell your home, but they’re particularly beneficial to anyone who:
• needs to move in a hurry
• is splitting up an estate
• doesn’t have the time to collect offers and is ready to bid on another property
• can’t make or afford needed home repairs
• has looming debt and wants a fresh start
• is selling from afar
What’s the upside?
With instant offer sites, the process is easy. You answer questions about your home. An initial offer is made. Inspectors give your house a once over. The final offer is made. If accepted, paperwork is signed and you get a check. They handle the repairs.
The whole process can happen in less than a week.
What’s the downside?
The offer will likely be for less than what your home is worth. (We like charities, but we aren’t one.) And, there will be an inspection, which could further reduce the offer.
Each instant offer site has unique features that may make it more or less appealing. Check out the pros and cons of each here.
Pay for Instant Access to Cash Buyers
The preferred option of wholesalers, buying a list is an easy way to gain access to multiple cash buyers.
2. List Services
There are dozens of cash buyer lists available for purchase online. Visit one of the list service websites, enter the parameters of your search and pay for the results.
Who’s it best for?
This won’t be the ideal method for most people. But, if you have the time and desire to collect multiple cash offers and can afford to pay for them, this is the way to go.
What’s the upside?
A whole list of cash buyers that you can work your way down collecting estimates. Also, most don’t require an inspection.
What’s the downside?
Different list services have different levels of quality — picking where to buy a list requires a little research. More than that, it takes time. You’ll have to call and collect offers from multiple cash buyers.
Spend Time, Not Money Finding Cash Buyers
Seek and you shall find. Once you start looking you’ll realize cash buyers aren’t that hard to find.
3. Online Research
The simplest way to start is with a Google search. Any iteration of “cash buyers near me” will work. Check out the paid ads and websites.
If the source looks legit, request information. But, fair warning, once you submit your contact info, there’s a good chance you’ll be hounded with offers.
Or search Facebook, LinkedIn, Craig’s List or any number or social media sights for a more local option.
Who’s it best for?
Anyone who’s job has enough downtime to do a couple of internet searches or couples with one at-home partner and kids in school during the day.
What’s the upside?
You get access to cash buyers for free. Also, potentially supporting the local economy by doing business with a small business.
What’s the downside?
There’s no one to vet the buyers. And, there are some scammers out there. One general rule of thumb, never pay an upfront fee. Any costs you’re responsible for should be deducted from the final sale.
4. Local Events
For social butterflies and the tech-averse, there are plenty of opportunities to meet potential buyers at local events.
The best place is at county tax auctions. If one is coming up, consider shopping cash buyers in person. When houses are on the lot, cash buyers will be there.
Or, stop by a local real estate investor club meeting or networking event. You can also check out your local chamber of commerce for references.
Who’s this best for?
This method is great for people who prefer to meet someone face-to-face before doing business with them.
What’s the upside?
You can meet multiple cash buyers in one place.
What’s the downside?
You have to find the events. Go to them. Talk to people. Store contact information. Who has time for that?
5. MLS
Are you close to any realtors? Really charismatic? Good at making quick friends? If so, you can always ask a realtor friend to do you a solid.
Realtors use MLS (Multiple Listing Service) to compare similar listings, but they can also use it to give you a list of cash transactions in your zip code that occurred in the past three months.
Who’s this best for?
Anyone who has a friend or family member in the industry and doesn’t mind making a couple of phone calls.
What’s the upside?
It’s free, relatively fast and doesn’t require much work on your part.
What’s the downside?
Making phone calls.
Whether you opt to get an offer online or work with a local investor, finding cash buyers is easier than ever.