If you’re thinking about selling a house to get out of a sticky situation or don’t want the invasion of privacy that comes with putting your home on the market, you may feel lost. Many people don’t know that they have options, sell with an investor or sell with an agent. Generally, people selling a house go through this process…
- Contact a Real Estate Agent
- Work to pin down the perfect sale price and time
- Get as many people to walk through the house as possible
- Gather offers and pick the winner
- Go through an extensive home inspection
- Continue working with the buyer or repeat the process
Sell with an investor
This process has historically been the best for every person wanting to sell. But with real estate popularity growing, so are your options. Some people don’t feel like having so many people drudging through their home during walk throughs. Some people need to sell quicker than the 30 to 60 days it normally takes when selling on the MLS. Others may be worried about passing the inspection. For these people, it may be best to sell with an investor.
Where does one find these investors? Have you seen those signs or billboards that read, “We Buy Homes Fast!”? These are the people we are talking about. The people who specialize in all-cash transactions. More than likely, you’ve never had to sell with an investor, so let’s walk you through the pros and cons:
- When considering alternative payment methods, the sky is the limit: Investors work around your needs to offer you what works best for your situation. Do you want the investor to pay you a lump sum of cash? Done. Maybe you want the investor to pay you $50,000 cash up front and payments over X months after that until the rest of the sum is paid. Done. Do you just want the investor to take over the existing mortgage, covering any outstanding balances so you can walk away? Done.
- Forget the worries of home preparation: If you sell with an investor, they will buy your home as-is. Retail buyers won’t. If you put your home on the market, buyers will try and bargain for you to replace the roof, fix the siding, replace carpets… there’s always something. Investors understand your situation and don’t expect you to fix anything. In fact, they will let you leave any trash behind that you don’t want and they will take care of it for you!
- The quickest closing you’ve ever dreamed of: Putting a home on the market can take anywhere between 40 days and 6+ months! Investors are able to make all-cash transactions and often wave all contingencies, which often slow down transactions. The investors we work with are able to buy your house in as little as 10 days.
After reading those pros you may be thinking, “Why would anyone sell their home on the market? I’m going with an investor!” Slow down and read these cons first. Selling with an investor isn’t for everyone.
- Beware of scams: Large sums of money are dealt with on a daily basis in real estate. This means it attracts a ton of scam artists! People are caught wiring money to “investors” for “application fees” when they have no intention of purchasing their home, and this money and lost time is gone forever. We work side-by side with qualified investors and agents so you don’t have to worry. We aim to please!
- You will almost certainly sell below the market value: Let’s be honest, investors are not buying your home to move in with their family and enjoy the area. They want to make money. The only way for them to make money is to offer you under market value. Make sure you weigh the benefits with the loss in earnings carefully. We will help you make this decision by doing an analysis of all available options with you.
Contact us and we will help you make an educated decision on the path you should take. We are one of the few out there who is happy no matter which option you choose, as long as you are happy in the end!