By Unlike a traditional real estate agent who is hired by home sellers to market their homes and find buyers, Express home sale acts as an intermediary between home sellers and individual home buyers. The company collects cash offers from iBuyer companies that are interested in purchasing your home and helps you select the best offer. This speeds up and simplifies the selling process significantly and can be beneficial for homeowners who may not be able to afford the upfront costs of listing their homes with a real estate agent.
While Express Homebuyers Quick house buyers has generally positive customer reviews and a fast sale process, many of its local offices employ unethical practices. For example, in 2021, it sent mass mailers to homeowners saying that they were overdue on their taxes. This was illegal, and the DC Attorney General ordered Express to pay the homeowners $70,000 to settle the case.
Another drawback of Express Homebuyers is that they typically purchase homes for below their fair market value. For example, they have bought homes that were in disrepair, including ones with extensive mold and termite damage. They have also purchased hoarders’ homes and properties that are facing foreclosure. While this convenience can be beneficial for some sellers, it is important to weigh the pros and cons of selling a home to a cash buyer before making any decisions.
To sell your home with Express, you fill out a short form on its website or call its toll-free number. A representative will then contact you to schedule a visit. At this time, they will assess the property and provide a range of its value. In some cases, the company will buy your home “as is,” meaning that you do not have to make any repairs before selling it.
The final step is for the company to submit a written offer and sign a purchase and sale agreement with you. Once the offer is accepted, you can close within a week. In addition to the speed and convenience of selling a home to Express, it avoids paying a commission to a traditional real estate agent.
Lastly, if you are unable to accept a cash offer from Express, there are other options for selling your home. One option is Clever Offers, which matches you with a top local Realtor who can help you make sense of cash offers and guide you through the traditional selling process. Another alternative is Houzeo, which connects you with multiple local cash buyers and provides a full-service marketing package for your home.
When choosing a Realtor, be sure to read their agency agreement carefully. In some states, such as California, there are different types of agency agreements. The most common is an exclusive buyer’s agent agreement, which entails that the Realtor will act solely on behalf of the buyer in the sale of the home. Another popular option is an exclusive seller’s agent agreement, which allows the Realtor to work with both buyers and sellers. In this situation, the Realtor must disclose that he or she has a financial interest in the transaction to both parties.
