Comparing Local vs. National Home Buyers
If you need to sell your house fast and want to avoid the hassle of a traditional home sale, you can sell your property to a company that buys houses in Coventry, Rhode Island. A home buyer can appraise your property and make a cash offer. A cash home sale allows you to get rid of your property or get out of your mortgage without jumping through hoops in a traditional home sale.
However, not every buyer that makes an offer on your house is from the Coventry area. Many buyers are national house-buying companies that land real estate deals across the US. Although local and national buyers both buy houses, they do operate in the same way. Knowing the difference between a local and national buyer may help you decide which one works best for you when you sell your house.
What Is a Local Home Buyer?
A local home buyer is a real estate investor, wholesaler, house-buying company, or individual buyer that looks for real estate investments in the area in which they live and work. For instance, a local buyer in this area is actually from Coventry and works with home sellers in Coventry.
A local buyer has experience buying and selling houses in the local area. They know the people and real estate market in Coventry. They understand the challenges of selling a home in this market and know the value of a property based on local real estate factors.
What Is a National House-Buying Company?
A national house-buying company also looks for real estate deals. The primary difference is that they invest in properties across a wide range of real estate markets in the US. Although based in one city or state, they scope out and buy properties in other states.
Expanding the market allows national home buyers to secure more properties and work with more home sellers. Larger companies also have the capital and resources to move deals quickly. They can secure a deal with a home seller in as little as a week regardless of their location.
What Are the Biggest Differences Between a Local and National Buyer
There are several things that differentiate a local home buyer from a national home buyer.
Real Estate Network
A national buyer has a massive real estate network built on endless business relationships with real estate professionals. A larger network provides resources that may not be available to a local home buyer. However, a local buyer’s network is tighter, built on day-to-day relationships with local real estate professionals. Local relationships can be more beneficial when you need to sell your house fast.
Reputation and Credibility
A national home buyer has worked hard to build a business that puts them in touch with real estate markets across the US. Therefore, it is possible for a larger company to establish credibility with home sellers at the local level.
However, local home buyers are more accountable to sellers due to proximity. A local buyer’s reputation relies solely on relationships they build with the local community – something not accessible to a national company.
Sense of Community
A local buyer is more than just the person who buys and sells houses. Their role in the local real estate market is valuable because they contribute to the rise in property values. A buyer can purchase a house, fix it, and sell it for more money, which is a benefit to the surrounding community. An experienced buyer understands their importance and works with the local community to improve the quality of real estate.
When structured properly, it is possible for a national company to give each seller the attention they need to sell their house. However, there is a missing element in that the company is not available to spend time with the seller. Local home buyers live in the same neighborhood as the sellers they buy houses from. Therefore, they can give each seller personal attention and help them with their sale.
Sell My House for Cash in Coventry, Rhode Island
If you need to sell your house fast but don’t want the hassle of a cash home sale, contact Prime Real Estate Investments. We buy houses as-is for cash. We can make a fair cash offer and close the sale of your house in as little as seven to 21 days. Call 401-256-2667 to get a fast cash offer on your house.