If you own a home and still owe money on it, but you find you need to sell it, you have several options that could help you out. You could go for a traditional sale or decide to rent it out, of course, but sometimes you need to get money quickly and can't deal with a lot of administrative issues before selling. In this case, you might want to look into a company that pays cash for houses. While the amount you could get for your home might be different from what you thought you could get if you sold it the traditional way, using a cash-for-homes company does have its advantages.
Chief among those advantages is the fact that you are getting cash. You don't have to worry about any transfers or bank approvals for a mortgage for the person buying the house. In a traditional sale, you can find a deal falling through quickly if the buyer can't get a mortgage. But with a cash deal straight from the buying company, there's no waiting period or risk of failure.
Along with not having to wait for approvals comes not having to really wait at all. Obviously you have to get through the negotiation process and wait for the company to send you a payment (or even hand it to you in person), but you don't have to wait for buyers to decide to buy your home, you don't have to wait for the mortgage approval process to finish, and you don't have to wait for contractors to finish any repairs on your home—cash companies generally handle those issues themselves. If you need to sell and sell fast, a cash-for-homes company is perfect for you.
It's Open to Everyone
Cash-for-homes companies will buy your home if they are interested in the home, regardless of the situation surrounding the home and your life as long as anything happening is legal. They won't check your credit or see if you're financially worthy of having your home bought. If you were trying to refinance your mortgage, for example, the bank would be checking you out thoroughly to see if they wanted to allow the refinancing. But if the cash-for-homes company likes the actual house, you've got a buyer.
As with most other decisions, it's best to get a few quotes from cash-for-homes companies, just as you would get a few quotes for mortgage interest rates and the like. Talk to the companies such as TW Homes and see what they would consider offering you so you get a better idea of what you should end up with.