Discover how companies like We Purchase Distressed Homes efficiently buy houses in poor condition. Learn about the process, valuation, and advantages of selling distressed properties quickly and hassle-free. Perfect for homeowners needing fast results or dealing with problematic homes, this guide highlights key steps, pricing, and considerations for a smooth sale.
An Introduction to Buying Difficult-to-Sell Homes
If your property is in poor condition or has significant repairs needed, you might wonder if there's a company looking to buy such homes. Fortunately, We Purchase Distressed Homes specializes in acquiring properties that need extra care. Many homeowners are curious about how this process differs from traditional sales. Though advertising signs are widespread, many don’t fully understand the company's operations.
This guide explains how they buy homes and what kind of offers to expect.
What Defines a Distressed Property?
"Distressed" isn’t just about appearance—it includes homes with structural issues, located in less desirable neighborhoods, or tied to emotional events like divorces.
Additional factors include mortgage struggles, foreclosure, inherited properties with problematic tenants, or homes damaged by water leaks or pests. Properties that are outdated or inconvenient due to location also qualify.
Homes with structural problems
Properties in undesirable areas
Houses linked to emotional distress
Foreclosed or financially distressed homes
Inherited properties with rental issues
Homes with severe damage or neglect
The Process to Sell Your Distressed Home
Step 1: Share Property Details
Contact the company online or by phone, providing basic information such as size, age, condition, and location.
Step 2: Arrange an Inspection
A representative will visit typically within 24 hours, based on your schedule.
Step 3: Receive an Offer
Post-inspection, they will present a cash offer, which is usually fixed. You may choose to accept or decline.
Step 4: Complete the Sale
If accepted, set a closing date and sign the purchase agreement. Since there’s no financing involved, closing tends to be faster and more flexible.
Step 5: Receive Payment
After closing, payments are typically made within 2-5 weeks.
What is the Purchase Price?
The company generally offers about half of the property’s market value. The actual offer depends on property condition and franchise specifics. They often follow the "seventy percent rule," offering no more than 70% of the home's after-repair value minus renovation costs, ensuring a profit margin for investors. Offers can sometimes range between 50-60% of ARV, depending on negotiation.
Is Selling Your Property a Good Idea?
If you need quick cash or have a property difficult to sell traditionally, We Purchase Distressed Homes can be a practical solution. While they have a solid reputation and positive reviews, it’s important to do thorough research to avoid scams. Consider the convenience and speed they offer versus potential undervaluation. Carefully review all documents and understand all terms before proceeding.
This method is ideal for distressed or unattractive properties, but exercise caution to ensure a smooth transaction.
