GREENSBORO, N.C. — We've all seen the ads in which some companies offer to buy homes for cash. They pop up on telephone poles, on television, and in the newspaper. With the housing market still very active, it may seem like a great offer, but is it right for you?
Melissa Greer is a realtor for Berkshire Hathaway HomeServices Yost & Little Realty in Greensboro. She said selling your home for cash means being able to close a deal quickly, but it can also mean missing out on some extra money.
"There are third-party companies that come in and make people offers for cash," Greer said. "They're companies that put them in inventory or they'll offer for cash at a lower price and then they'll turn around and flip them."
If approached for a cash offer on your home, Greer said there are some red flags to look out for.
"There are companies that make offers to people directly for homes that are not on the market and that's really when a consumer needs to be careful, a homeowner needs to be careful and make sure they get advice and know what they're getting into," Greer said.
To get the best possible price for your home, Greer recommends seeking help from a local realtor who you can work with face to face.