How to Choose a Buyer for Your Old House

How to Choose a Buyer for Your House

How to Choose a Buyer for Your Old House

You’re not using a Realtor (smart choice) so the onus falls on you to find a choose a buyer for your home. But there’s more. You own an old and run down house, which has a number of parties coming out of the woodwork to make an offer, looking to capitalize of your situation. How are you to identify which buyer to go with? How can you be sure that you’re not being taken advantage of? By referencing the following qualifiers to identify the best candidates.

5 Things to Look for When Choosing a Buyer for Your Older Winnipeg Home 

Local vs “Franchise” Buyer

It’s not hard to check the box on this one. Do some homework to find out if the buyer you intend on contacting (or has contacted you) is not working out of the office of some major conglomerate with brick and mortars across the country or continent for that matter. If they do, they’re not local. They have simply franchised operations and hired someone to be the face and facade. A local buyer, be they an individual or Winnipeg owned and operated business, will have your best interests in mind because in the end our big city is still a small town in many ways, and word gets around faster that the jockeys at Assiniboia Downs. 

Verifiable Testimonials from Other Local Residents

Carrying over from our final statement above, word of mouth from local sellers who have been in the same situation you’re in today is important. Make sure there are verifiable testimonials on the buyer’s website (where applicable) and be sure to ask about local (not in some other city) references.

They Offer Fair Market Value

When selling a fixer-upper you’ll probably get some random numbers thrown at you. Many buyers in this distinct scenario will pull a price out of thin air without considering exactly what the market will bear, or better yet – pay up for. The right buyer will sit down with you, show you current and proven Winnipeg real estate statistics so that together you can calculate the fair value for your property based on comparisons with those available on the market. The buyer will come prepared with data, using similar and recently sold properties as a benchmark. If none are available (if your house is truly unique) then they will generate a benchmark around properties most closely matched. The point here, is that there is a legitimate formula at play when determining what can be paid. If a buyer is not upfront about that, or seems to have no reasoning behind the math, you may end up taking a bath on the sale.

They Stay Current, and Therefore Relevant

When using a local service as a buyer, you will want to take another look at their website, beyond the Testimonials (as per item #2 above) and see if they are transparent and provide potential sellers with helpful content, information that will help with the decision making process. Check to see if the buyer maintains an online newsletter or blog that speaks to the seller (you), providing tips on making the most out of your situation while offering original and real updates on the local real estate market. If they do, you will have found someone that is current, relevant, in-the-know, and ready to work with you today. Keep reading.

They Show You the Money (this week)

In the end, the most important thing to you is “getting paid”, and getting paid right away. A buyer that doesn’t show you that they will pay what they offered soon is one that may leave you dangling. If they dilly dally and delay, they are having a hard time getting the funds together. Or, they are stringing you along while they check to see if the grass is greener on the other side and field another offer until the find the one that works best for them. How soon should you expect payment for your old house? Two-months…one-month? Nope. A truly serious buyer who is backed by adequate financing will get you cash in hand within the week of reaching an agreement to sell. 

If you want to check all of the boxes above when selling your old house, you’ve already come to the right place. 5 Day Cash Offer is a locally owned and operated service with deep relationships in the Winnipeg community, and will pay fair market value for your property right away. Contact us today at 204.222.0022 to learn what we can do for YOU.