What are these “We Buy Houses” signs!?
We’ve all seen them, these signs saying, “We Buy Houses” in big, bold, black lettering with with a phone number to call. You see these signs in all the busy intersections and roads like Route 9 in Wappingers Falls – especially near the malls! Looking at these We Buy Houses signs on telephone poles, you’ve probably wondered “what are these signs?” “Are they even allowed here?” And why do some of them look like they’ve been done professionally, while others look like they’ve been scrawled on cardboards, penned by a kid in kindergarten?” Really, some could use the help. And then other questions started flooding in, more serious questions. “Do these people really have the money to buy a house? My house? How does it work? What’s the catch? Is it a scam?”
Who hangs them up?
House flippers! Flippers are real estate investors who buy houses exactly as they are (“As-Is”) with all it’s faults and renovate them into gems to sell to someone looking for a fresh, clean, ready-to-move-in home. They buy with cash (they don’t try to get a mortgage). And since they are buying with cash, they don’t have to abide by any bank rules on the condition of the house they are buying. Also, with cash, no one has to wait months for a bank to decide if the buyer and/or house is worthy.
Why do they hang “We Buy Houses” signs?
First off, it’s cheap. Second, they really work. We Buy Houses bandit signs, whether big or small, are one of the best ways to get the word out that an investor has money – cash – to buy your house. But these We Buy Houses signs are ugly. Even though I hear all kinds of success stories of my colleagues in Dutchess and Putnam counties using these signs, I see it as littering and I don’t hang them on public poles. Hey.. I live here too and have to look at these things.
Cash now? What’s the catch?
There’s a lot of convenience with selling your house… as it is, and right away. And as with any convenience, there is a cost tradeoff. The tradeoff is that investors who will buy your house quickly (like in 2 weeks) with all it’s flaws (that might make it nearly impossible to sell via an agent) will buy the house at a discount. Just like when you don’t mind paying more for food at the Quickie Store because it’s convenient and fast, so too, sometimes a seller may be happy as punch to sell a little cheaper to get it done… now, without having to do any repairs.
Mystery solved? If you are thinking of selling your house or condo in Dutchess, or Putnam counties, give me a call or an email and let’s start a conversation going.