You thought about selling your home – after all, it’s getting a bit much to take care of. The next day you get a letter in the mail from someone asking to buy your home. It seems strange that someone would send out an unsolicited offer when you’ve only just begun thinking about the possibility of selling. It’s like they read your mind.
Unsolicited offers are more common than you think. They are offers for properties that haven’t yet been listed for sale. These offers can come from individual people, investors or companies who are interested in your property. If you aren’t expecting such an offer, you may feel confused.
Are these offers legitimate?
When you get such an offer, your first thought may be confusion or skepticism. However, most of the offers come from legitimate buyers. You can look up the company and make sure it is real. You can also ask for a verification of funds, or a catalog of previous projects. You can see reviews on the seller and know what other buyers have thought of them and the process of selling to them.
You can also work with a real estate agent to determine which offers come from real people. Having another person look through those offers with you may give you peace of mind. Keep in mind, if you contact an agent, you may have to pay a commission.
The Good and Bad of Unsolicited Offers
One of the benefits of getting unsolicited offers is you know someone is interested in your property. You don’t have to go in search of buyers since they are coming to you. This benefit can have real value if your home is outdated or in need of repairs. These buyers likely will purchase it as-is, so you don’t have to spend money to renovate or fix it up. You can also avoid costly commissions paid to real estate agents.
You can get through the process faster with a cash buyer. Often, they are investors who have experience buying homes. They can handle the paperwork and other details, so you don’t have to. This is an important benefit if you live out of state and are trying to sell a family home.
The downside to accepting an unsolicited cash offer is they may be lower than full retail value. Buyers looking for full retail value should fix their home, and list with an agent.
If you’re interested in selling your home and don’t want to take the chance on random unsolicited offers, you can contact Quick Home Offers for a free, no-obligation quote on your home.