3 Reasons Why Motivated Sellers Need To Sell To Investors
By Michael Otranto
We have all seen the ads, signs and online postings that say “We Buy Houses” and have wondered what it would be like to sell a home to an investor. As in any type of major purchase you must do your due-diligence and research the company you will be doing business with.
Below are 3 advantages of selling your own home to an investor:
1. Speed/fast close
The first advantage of selling to a professional investor is speed. An investor will come to the table with cash which is the fastest way to buy a house outright. There will be no waiting for the long and costly loan approval process.
The other way is to take over payments in which case the investor will be writing a check to your mortgage company and completing the necessary paperwork to buy your house–fast and simple! Many loans can take as long as 60 days to close. That means if you found a buyer today you would have to wait 60+ days for a check. With an investor, you can receive a check in as little as a couple of days.
2. As is – no repairs
Experienced investors are used to making repairs to a property. There will be no need to go over a nit-picky inspection report and fix all the little things on there. Most investors will even buy houses that need major repairs. This is what is meant by taking the property “as-is”. We buy the properties as they are in their current condition. You’d be amazed at how picky the first time home buyer is! Who could blame them? Modern home builders wow them with modern appliance & upgrade packages and the homes are in mint condition after sale. Most come with a 1 year warranty for free! When you sell to an investor you don’t have to endure the home inspection process and the anxiety associated with figuring out how to afford to do all the repairs at your home. Investors buy your house as-is.
3. No Commissions/closing costs
Do you want someone to buy your house or do you want to pay someone over $10,000 to find you a buyer? By selling directly to an investor you won’t have to pay an agent a 6% commission to “find a buyer”. The investor is the buyer and you probably found them! With the typical real estate transaction the commission on a $200,000 house is $12,000! Think of the huge benefit of not having to paying commission by selling your own home.
If you have a home that you need to sell fast go online and start doing research to find the credible investors in your area. Contact them and ask how it works. The worst thing you can do in a distress situation is nothing. It is nice to be able to choose the date of your closing and not have to endure open houses and picky home buyers who do not understand your situation.
3 Big benefits of selling your distressed property to an investor. There are more benefits than these 3, do you know any? I am sure the advantage of a cash transaction is a huge one. Not worrying about banks, appraisals and underwriters is a huge benefit to selling to investors.
Visit Mike Otranto for more information at http:/mikeotranto.com
Leave me your comments below and consider sharing this with your social media contacts.
Great information. My “problem” is what do I say to the seller to let them know I am an entrepreneur, not investor, wanting to control and resell the property?