Today we’re going to talk about the differences between selling your house to a wholesaler vs a local cash home buyer in Evansville. Not all home buying companies in the Evansville area operate the same way, so it’s important to know whether the company you’re dealing with is a wholesaler vs a local cash home buyer.
Not All Home Buying Companies Are the Same
If you’re looking around on the internet for different companies to buy your house for cash in the Evansville area, you’re probably thinking they all look the same and they all offer the same things. They all promise to buy your house for cash, buy your house as-is with no repairs needed, and close quickly. While all of the offerings may seem like they’re the same, but there is a very important difference between selling your house to a wholesaler vs a local cash home buyer in Evansville.
What Is a Cash Home Buyer?
At Flipping Evansville, we are actual cash home buyers. That means that we have our own cash that we can use to actually purchase your house. We will close on your house and take title to your house ourselves. We can usually close in 7 to 14 days, unless there are issues with the title work. We’ll buy your house in its current condition, and we’ll pay you cash. We can do all of that because we actually have our own cash, and we can actually close on your house ourselves.
You’re probably thinking, “Isn’t that what all home buying companies do?”
No, and that’s why it’s important to understand the differences between selling your house to a wholesaler vs a local cash home buyer in Evansville.
Not every company that claims that they can buy your house for cash actually has the cash to buy your Evansville house. That’s the major difference between a wholesaler vs a local cash home buyer.
What Is a Wholesaler?
A wholesaler will typically offer the same things as a cash home buyer. They’ll offer to buy your house for cash, close quickly, buy your house as-is, and pay all of your closing costs. They look the same as every other cash home buyer when you’re searching online.
However, a wholesaler doesn’t actually plan to close on your house.
Instead, they will put your house under contract and then try to find a cash home buyer or investor to actually close on the sale. If the wholesaler finds a buyer who has cash and is willing to purchase the house, they’ll assign the purchase contract to that buyer and collect an assignment fee. The actual cash buyer then closes on the house and takes the title, and the wholesaler walks away with their assignment fee.
Not All Wholesalers Are Bad
I want to make it abundantly clear that not all wholesalers are bad. There are a lot of great wholesalers out there.
This isn’t about bashing wholesalers. This is about informing you that the home buying company you work with to sell your house in Evansville could be operating in two different ways. They could be a wholesaler vs a local cash home buyer.
Local Cash Home Buyers in Evansville Can Usually Pay More Money for Your House Than a Wholesaler
When you contact an actual cash home buyer to sell your house instead of a wholesaler, you’re cutting out the middleman and selling your house directly to the end buyer. You’ll essentially be saving yourself the assignment fee that the wholesaler charges the cash home buyer.
Getting more money from the sale is the obvious reason to choose a local cash home buyer over a wholesaler. But, there is another big reason to be wary of wholesalers.
Local Cash Home Buyers in Evansville Can Offer You a Guaranteed Closing on Your House
Because wholesaling is often taught by real estate gurus as a way to make money in real estate without any of your own money, it tends to attract a lot of beginner real estate investors. When you hear real estate seminars advertising ways to become a millionaire in real estate investing without any of your own money, many times they’re talking about wholesaling.
The result is an abundance of beginner wholesalers who promise to pay you cash and close on your house quickly, who are then unable to find a buyer for the contract.
If a wholesaler is unable to find a buyer for your house who they can assign the contract to, they’ll typically do two things. They’ll ask you for more time to close and they’ll ask for a price reduction.
This isn’t ideal for you as the seller. You may have been counting on the closing happening by a specific date, and you’re obviously not going to be thrilled about a price reduction.
Not being able to offer a guaranteed closing is really the biggest problem with wholesaling. When sellers reach out to a home buying company, they’re expecting a guaranteed offer and closing that will solve their real estate problem.
We’re contacted on a regular basis by sellers who were previously working with a wholesaler who ended up backing out of the contract. These sellers often needed to sell quickly in the first place, and now they’re left with even less time to get their house sold.
Ready to Sell Your House to an Actual, Local Cash Home Buyer in Evansville?
At Flipping Evansville, we offer you a guaranteed closing. We have access to our own cash, and we can actually close on your house. It’s a guaranteed closing, and we’ll put money in escrow to prove it. We can even give you proof of funds to make you feel more comfortable. We’ve never backed out of a contract to purchase a house, and that’s really the difference between dealing with us and dealing with a wholesaler in Evansville.
Most home buying companies in the Evansville area are wholesalers. Very few of the companies that operate in this area actually have their own cash and intend on closing on the house themselves.
When you’re looking online and do a Google search for “we buy houses Evansville“, most of the companies that pop up are not going to be actual cash home buyers. Most of them will be wholesalers.
Contact Flipping Evansville for a Guaranteed Cash Offer on Your House Today
I hope this has cleared up some of your questions and makes the process of selling your house to a cash home buyer a little more transparent so that you can see what goes on behind the scenes in this industry.
If you have a house to sell in the Evansville area, whether you need to sell your house fast, or whether you inherited a house, whatever the case may be, contact us today for a guaranteed cash offer on your house. We’re actual cash home buyers! We’ll come out and take a look at your house. We’ll give you a guaranteed closing on an actual closing date and we’ll buy your house from you. We’ll pay you all cash and you don’t have to make any repairs.
If you need to stay in the house after closing for a period of time, we can accommodate that as well in order to make the transition to your next home as seamless as possible.
If we can help you out in any way, please give us a call at 812-401-7253 or submit your property information and we will see if it’s something that we can help you out with.