Should You Sell to a Local or National Homebuyer | Pros and Cons
If you’re stuck between selling your house to a national or local homebuyer, we can help. The guide below walks you through the pros and cons of selling to local and national companies, and we’ve included a helpful chart with the similarities and differences to help you decide which “we buy houses” company to sell to.
Let’s start with the pros and cons of selling your house to local and national home buyers.
Selling Your House to a Local Homebuying Company
It may feel safer to sell to someone who is local, and local homebuying companies tend to know your market best. They are familiar with similar properties and you can probably find others who have used them. But just because they feel like your neighbors it doesn’t mean there aren’t downsides.
- They know your area and what will sell for a higher value after they flip the property.
- If your home has these features, they’ll be more eager to buy.
- You’ll get a real person coming to your home to tour it which adds trust and credibility.
- Many local homebuyers do not have an office so if something goes wrong, you have to hope they’ll pick up their phone.
- If the homebuyer does not have a website then you may not be able to find honest reviews, ratings or testimonials.
- Many local homebuyers do not have the cash-on-hand, and if their current project fall through, they may come up short and you won’t be able to sell, or for the amount you are hoping.
Now that you know about local homebuyers, let’s go over the pros and cons of a national company.
Selling Your House to a National Homebuyer
National companies may make you feel like you’re a number in a system vs. a neighbor, but that isn’t all of them. Good home buyers will treat you like family, and many have deeper pockets to help ensure you can sell your house without problems.
- It is easy to find real reviews, ratings and customer testimonials on their website, social media and to locate executives.
- There are going to be more reviews on third parties like Google, the BBB and TrustPilot.
- More cash on hand means they have the money to pay for your house and keep your deal from falling apart.
- If they do not have an office in your town, they may not tour your home lowering the offer.
- Instead of getting a fair offer, national homebuyers have flat fees for unfamiliar regions.
- When they do not have demand in your area, you may get passed to a local or other national partner.
Now that you know the pros and cons of selling your house to national and local homebuyers, lets look at how they are similar and different.
Local Homebuyers vs. National Homebuyers
|Local Homebuyer||National Homebuyer|
|Customer Service||Send staff to meet you and tour your house||May not send someone to your house|
|Reviews||May have fewer, harder to find reviews||Lots of reviews visible on Google, BBB, and Trustpilot|
|Online Presence||Fewer social media channels and less in-depth website||Active on most social media with user-friendly website|
|Financing||If another property falls through may not have money to buy your house||Cash in bank to buy your house|
|Local Knowledge||Familiar with area and offers more money for up-and-coming neighborhood||Flat prices for each area; may not operate near you|
Now you know the differences between a national and local homebuying company, as well as the strengths and weaknesses of each one. You’re also equipped to ask each company the right questions to make sure they have your best interests at heart and can pick up on any quick ones a sketchy company could pull.
Make sure you're dealing with a reputable company that keeps their word, so you don't end up in a lose-lose situation.
If somone cannot answer yes to all of these questions, how can you trust them to do what they say?
Work with Express Homebuyers and you'll have both Peace of Mind and Cash In Your Pockets.
- Do they have proof of $$ in the bank that shows they are making an honest offer?
- Do they have an A+ rating by the Better Business Bureau?
- Do they have video testimonials from actual customers that they can show you?
- Will they provide up to a $10,000 cash advance to help with expenses when moving?
- Do they have a physical office and staff to help you through the entire process, or are they just working out of their car?