Frequently Asked Questions
If you’re thinking about selling your house for cash to a Portland real estate investor, you probably have some questions. We’re here to help! If you don’t see your question below, please contact us directly at (503) 200-8730.
What’s the fastest way to sell a house for cash?
The fastest way to sell a house for cash is to sell it yourself to a local real estate investor.
What is a cash buyer?
A cash buyer is someone who doesn’t need to secure lending to purchase your home. In a traditional home sale, finding a cash buyer is rare. However, when you sell to a real estate investor, an all cash offer is expected.
How quickly can a cash buyer complete a home transaction?
A reputable cash buyer can make a cash offer within 24 hours of visiting your home. Once you accept, you can close in as little as 2-3 days.
How do you sell a house for cash?
Selling a house to a home investor for cash is the easiest, simplest way to sell your home. Here’s how it works:
- The home investor will visit and evaluate the property
- The investor will make a cash offer within 24 hours
- If you accept the offer, you’ll decide on a closing date
- Closing takes 2-3 days and there are never any closing fees, hidden costs, or agent commissions.
A trusted real estate investor will give you a fair cash offer for your home. You’ll have the cash you need and the peace of mind knowing that the sale of your home was completed quickly and professionally without the drawbacks of dealing with a traditional real estate agent.
What are the benefits of selling a house for cash?
Whether you’re selling a home for the first time or are a seasoned pro, there are many benefits to selling your house for cash:
- All cash offer
- $10,000 earnest money deposit
- Quick sale
- No commission fees
- No need to make repairs (sell the house as-is)
- No cleaning costs
- Fast and flexible closing timeline
Why would someone sell a house for cash only?
Cash is king when it comes to a real estate deal. Why would someone sell a house for cash only?
- House needs a lot of work and repairs but the seller doesn’t want to do, pay, or give credits for them
- Seller doesn’t want to risk the sale falling through — cash sales happen quickly so there’s no last-minute letdowns
- Seller wants to avoid foreclosure
- Sellers are going through a divorce and need to sell the property quickly
- Seller is relocating and and needs to purchase a home somewhere else as fast as possible
- Home is part of an estate and wants to settle it in a quick and straightforward sale
- Home has been sitting empty and on the market for a long time and won’t sell
Are there any closing costs in a cash sale?
In a traditional home sale, both buyers and sellers pay closing costs. Most sellers pay at least 2% (and often up to 4%) of your home’s price. When you sell to a real estate investor, it’s different. You won’t pay closing cost fees like title insurance, HOA fees, or prorated share water and mortgage bills.
Do you pay a commission when selling for cash?
No! You do not pay a real estate agent commission fee when you sell to a real estate investor. This is a huge savings as this commission fee is one of the largest fees that a home seller has to pay. In Oregon, real estate agents take around 6% commission on your home sale.
Is selling your house to an investor a good idea?
Every situation is different, but selling your house to an investor can be a lucrative transaction. When you need to sell your house as quickly as possible (30 days or less), don’t want to do any repairs or maintenance, and don’t want to pay any commissions or fees, selling to an investor is a great option.
What’s the difference between a real estate investor and a real estate agent?
A real estate agent wants to help you sell your home, while a real estate investor wants to buy your home for cash.
Another big difference between a real estate investor and a real estate agent is how they make their money. You don’t have to pay an investor (they pay you!), but you do have to pay an agent. Real estate agents typically require up to 5% commission of every sale they facilitate. Conversely, real estate investors make a profit when they eventually resell or lease the property.
Are companies that buy houses for cash legit?
Yes! Real estate investing is a safe and legitimate business. However, selling to a real estate investor does require some due diligence on your part. Make sure you work with a reputable real estate investor by looking for a company that:
- Is local
- Has good reviews
- Has been in business for many years
- Offers you an earnest money deposit
- Doesn’t charge you any fees
- Buys the house from you as-is with no contingencies of any kind
Should I sell my house to an iBuyer?
We do not recommend selling to an iBuyer. iBuyers are companies like Zillow, Opendoor, and even Redfin that use technology to make “instant” offers on your home.
While seemingly convenient, iBuyers charge up to 10% in transaction fees and closing costs, often require inspections and repairs, and up to 60 days closing time. If you want to reap the benefits of selling your home for cash, it’s better to sell to a local investor.
Do I need to fix up my house before I sell it for cash?
No! You don’t need to make any repairs before selling to a real estate investor. Even if your roof is damaged, your kitchen hasn’t been remodeled since the 70s, or you have major foundational or electrical issues, a real estate investor will be interested. They see value in your property and the potential it has.
Will the Oregon foreclosure moratorium be extended?
The Oregon Foreclosure Moratorium allows homeowners to make an agreement with their mortgage lenders to temporarily halt or reduce mortgage payments. However, the moratorium is set to expire. If you won’t be able to make mortgage payments when the moratorium ends, contact us.
How do I sell my house when behind on payments?
If the fair market value of your home is greater than what you owe on your mortgage, you can sell your house and use the proceeds to pay back your lender. If not, talk to your bank about a short sale agreement.
How has COVID-19 affected Portland homeowners?
We work with homeowners who are facing difficult financial situations and major life changes as a result of the coronavirus, including:
- Losing a job
- Needing more space now that they’re working from home
- Wanting to get away from the city or be closer to family
- Being unable to pay their mortgage
- Foreclosure on their home
- Needing to sell a vacation or rental property
Will selling my house for cash help me avoid foreclosure?
Selling your Oregon foreclosure home to a real estate investor like Columbia Redevelopment can help you avoid dealing with a bank and protect your investment. It will also help you avoid a foreclosure on your record, including:
- 150+ point hits to your credit score
- Difficulty getting a mortgage in the future
- Debt that will take years to overcome
How does working with Columbia Redevelopment compare to working with a real estate agent?
Real estate agents work on commission. Even if they wanted to, they can not guarantee a fast sale because they are selling the property, not buying it. That’s why a real estate agent is not your best option if you want to sell your home quickly. Columbia Redevelopment is different. When you work with us there are no inspections, no waiting for bank financing, and no haggling with other buyers. Plus we don’t take a sales commission like a real estate agent. Our goal is to give you the best possible cash value for your home.
Still have questions?
Keep reading to find out more about what to expect when selling your house to Columbia Redevelopment.
Or contact us online to learn more.
How does your process work?
We offer quick, straightforward solutions for sellers. When you contact Columbia Redevelopment, we’ll meet you at your property, make you an as-is cash offer within 24 hours, and deposit $10,000 earnest money into your account. We handle all the paperwork and draft the sales documents for you to review. Finally, you pick the closing date, and we’ll pay you in cash at closing.
Do you buy houses for cash near me?
We’re based in Portland, Oregon, but we buy properties of any type, size, and condition all over the Portland and Vancouver areas, from the Oregon Coast all the way out to Clackamas. If you’re looking to sell a property near us, we’d love to hear from you — even if you don’t live in the area.
How long have you been buying homes?
We’ve been buying homes since 2008 and we haven’t looked back since. We’re based in NE Portland and love what we do!
Is your offer contingent on the investor flipping the house?
No. Many cash buyers make their offer contingent on being able to flip and resell your house immediately. If they can’t resell it, the deal is off, even though you signed on the dotted line.
That’s not how we do things.
We are the final buyer. When we buy your home, the deal is done. You’ll always get your cash and you’ll never worry about us getting cold feet and leaving you hanging.
Do you buy fixer-uppers?
Yes, we have been renovating homes for years and know how to deal with old and damaged properties. We buy homes in any condition, including fixer-uppers, vacant lots, and messy homes. You don’t even need to clean out your basement (we donate any unwanted items to charity). We also buy houses with extreme damage from mold, fires, rot, oil tank leaks, and more.
What happens to my house after I sell it to you?
After you sell your property to Columbia Redevelopment, we’ll renovate it and put it back on the market to be resold within 6-months or less. One of our goals is to give back to the neighborhoods we serve. Once a project is done, we donate to a local charity that does good work in that neighborhood. If you’re interested in seeing some of our work, take a look at some of our past projects.