What if I told you that selling your house quickly and receiving the most amount of money you possibly can is easy when you’re working with the right party?
Would you think it’s too good to be true?
I have good news and bad news…. Which one would you rather hear first?
Okay since you insist here is the good news first…
It is very possible when you’re working with the right party.
The bad news…
Before you even consider a fair offer on your house, you need be realistic with your expectations.
A lot of people say they want to sell their house fast but at the end of the day, they don’t know how much they want.
They also make the mistake of overvaluing their house due to thinking it’s worth more than it is.
Or they may make the mistake of undervaluing their house out without knowing what other houses in their area are selling for.
At the end of the day you’re only human.
Selling your house is a huge decision. There is a lot of emotion, stress, doubt, uncertainty, and more that comes along with your decision.
Most of us are acquainted with buying and selling our homes through the Multiple Listing Service (MLS) with the assistance of a real estate agent.
We make the house look as good as possible in the hopes that someone would appreciate it enough to make an offer on it.
While selling to an investor isn’t normal, it is more common than most people believe. Why do some people approach investors rather than real estate agents? When a seller wants to sell a house fast, they turn to investors.
They don’t have enough time to list it with a real estate agent and wait for a buyer.
How much would an investor offer for your home? Can you get the promised funds as soon as you’re informed, and how much will you receive?
Are companies that claim to “buy homes” actually legitimate? Continue reading to learn what you need to know about selling your house to a professional home investor.
What you should know before selling your home to a real estate investor
A professional home investor is an individual or a corporation that purchases residential properties as part of a business or investment plan.
Individual owners can purchase only one or two investment properties (which they either hold and rent out or flip and easily resell), but businesses that buy houses often do so in bulk.
Different types of home investors
A buy-and-hold owner plans to buy and hold a property for an extended period of time without residing in it.
Long-term profits from rental income and land appreciation are expected by these investors.
A buy-and-hold investor can be a newcomer to the real estate who wants to try their hand at becoming a landlord.
A buy and hold investor looks for single-family homes or condos in a rising community that are preferably in turn-key condition for optimum rental potential.
Buy-and-hold owners bid equal to (but still slightly below) market value depending on the state of the home.
House flippers use the buy low, sell high strategy. They buy properties in bad shape at a steep discount, make the requisite repairs and improvements to lure a buyer willing to pay a higher price, and sell it normally within a year.
Investors who purchase assets and then resell them easily (without making any improvements) are using a strategy known as wholesale investment.
They purchase houses for well below market value with the aim of reselling them to another investor for a better profit.
Successful wholesalers typically have a wide list of customers signed up ahead of time and use targeted selling to find inactive or off-market homes to purchase cheaply.
iBuyers, the most recent breakthrough in the home investment industry, aims to have a streamlined online home-selling interface in return for a convenience or service fee.
Rather than buying one or two homes a year, iBuyers convert a larger number of good-condition homes on smaller per-flip profit margins.
What To Consider When Selling To An Investor
When you have a house you’re looking to sell quickly, no one wants to have a process that lingers on for months and months.
You may be looking to get the process over with due to a recent divorce, foreclosure, property tax issues, vacant property, you’re looking to downsize or you’re just a tired landlord.
There are multiple key benefits to selling to an investor like ourselves:
1. Fast Closing
As long as there are no title issues such as liens, taxes problems with the city, etc… We can typically close within 14-21 days or less since we typically use CASH for each transaction.
2. Never Pay Closing Costs
We take care of all closing costs. Depending on the purchase price of your property, closing costs can typically save you $1,500 – $3,000
3. You Deal Directly With The Buyer
Unlike a traditional real estate transaction with a realtor, all communication is done directly with us. You don’t have to deal with multiple buyers who may have long inspection periods and haggle you on price.
4. You Pay ZERO realtor commission
When you hire a realtor as a seller, you’re typically on the hook for a 5-6% commission fee on top of your closing costs, the repairs you need to make to the house and more.
5. We Buy As-Is
It doesn’t matter what condition your property is in, we will buy as is. No repairs are necessary, we take care of it all! You can also leave any unwanted items you don’t want and we will take care of it for you.
6. Sell When You’re Ready
As investors, we are all about convenience and we are extremely patient. Our goal is to make sure you’re happy at the end of the day and we work around your schedule to ensure that you’re satisfied.
How to stop home investor scam
You would need to do an extensive investigation to ensure that the bid you are accepting is valid and that you are not being taken advantage of.
Fraudsters are betting on you not doing your research before investing. By doing your own digging, you will keep them at bay. It’s not enough to request additional detail or references; fraudsters have no reason to correct you. Take the time to do your own studies.
Know who the salesperson is
Spend some time researching the person promoting the investment before you invest.
Often check to see if the salespeople who call you are allowed to sell securities in your state and if they or their companies have had any problems with regulators or other investors.
The SEC and FINRA now have web databases where you can look up a broker’s or adviser’s disciplinary records for free. Additional details could be available from your state’s securities regulator.
If it sounds too good to be true, it is
Comparing promised yields to actual returns on well-known stock indices is a good way to go. Be wary of promises that investment would yield amazing returns, since these are also signs of high risk or outright fraud.
Is selling to an investor the best option for you or should you look for a real estate agent?
With a better understanding of who homeowners are, as well as the advantages of dealing with them, your next question could be, “Is this the best decision for me?” Let’s go over those questions that will help you decide.
1. How fast do you need to sell your house?
If time is of the essence, selling your house to an investor ensures a fast transaction with little to no planning work.
2. What is the shape of your property?
Investors aren’t going to live on the house, so they don’t need the emotional attachment and they will look beyond aesthetic and maintenance problems to determine the investment worth of your house.
3. Are you relocating for work?
A workplace relocation always necessitates a shorter-than-usual turnaround period. Selling to an investor can be more appropriate than looking for the right customer.
4. Do you have any foreclosure issues?
If you’re behind on payments and need to sell your home fast, an investor might be a good idea.
Tips keep in mind when selling to a home investor
- Don’t be concerned about cleaning or repairing the house.
- Be ready to close and sell fast.
- You get to choose how many investors to speak with and who you want to sell to.
- Feel free to inquire as to how they came up with their deal.
- Allow the investors to assist you in preparing to vacate the property if they are willing.
It is certainly possible to sell your house fast and if you chose the right party. To avoid selling your home for less in return for speed, make sure you carefully weigh your choices and seek advice from the right professionals.
Investors can close on your preferred day, even though it is just a few days out, and in some situations, they can provide tailored options for each seller’s unique situation.
Hopefully, you found my guide to selling your house fast helpful and that you can bring it to good use. You will have a better understanding of the choices and what it would take to complete the job done.