Selling your home can be a stressful process, and it can be confusing to navigate the process on your own. Many homeowners list their homes and then see advertisements for real estate investors that promise to buy their homes quickly and for an excellent price. Making the decision to sell to a real estate investor is a big one, and you should keep the following in mind to make the best decision for your future.
The Benefits of Selling to a Real Estate Investor:
1. They’ll pay cash. Many real estate investors are willing to pay cash for your house, which leads to faster payment. Instead of waiting for loan approval and haggling a lower price, real estate investors are able to offer an immediate cash price for most homes.
2. They’ll buy your home without visiting, so you can avoid paying for repairs. Most real estate investors will buy a property without inspecting it, which allows you to put off costly maintenance or home improvement projects.
3. There are flexible payment options to fit your needs. Most investors will have a variety of payment options including scheduled cash payments, certified funds, or assuming the old mortgage completely. This makes it easier to find a payment that best fits your needs.
4. The process is fast! Many investors will be able to close the property deal in a week. This makes investors a great option for those looking to move quickly or increase their liquid assets.
The Downside to Selling to Real Estate Investors
1. Beware of scams. While there are countless reputable real estate investors available, there are also scam artists looking to take advantage of those who haven’t done their research. Protect yourself and your home by doing research on your potential real estate investor. Find them on the Better Business Bureau to view their ratings, ask directly for references, or enlist the help of a real estate agent to decide whether your investor is legitimate.
2. You might make less money in the sale. All the benefits of selling to a real estate investor come with a cost, which means that investors can purchase a home for less than the original asking price. For some homeowners the benefits outweigh the loss of income, but you should be aware that investors will probably pay less than traditional buyers.
3. Your real estate investor may not be licensed. Real estate investors are not required to have a license, so it can be hard to tell whether you should trust them. Doing research, asking for references, and getting the help of a real estate agent can help you make the best choice when it comes to investors.
When it comes to selling your home, there can be an overwhelming number of options available to you. When using a real estate investor, you can make a quick sale without making costly renovations to your home. This quick cash sale can come at the cost of losing potential revenue or working with a fraudulent investor. If you decide to sell to a real estate investor, make sure you do research on the investor with the help of an agent before proceeding.