The steps to selling a house the traditional way involving real estate agents and open house showings can be stressful. It can also be particularly stressful if you are having financial difficulties or the house you are living in is damaged. Some home owners are at a loss at what to do when their home becomes more of a burden than a dwelling, and in these circumstances, real estate investors can be a good source of help. Here are few reasons why selling a house to an investor may be the right choice for you.
Quick Turnaround Time
The average time that house stays on the market from its listing date to sale date is around three months depending on the local market. Many homeowners do not have three months to wait for the sale, and during slow seasons or a buyer’s market, the turn time for a sale can be months longer.
A quick home sale is also hindered by the legal paperwork. An offer from the buyer may include certain conditions such as waiting for the buyer to be approved for the loan or conditional on a secured mortgage rate from the buyer. Regardless, if the home owner is not careful, even when a seller receives an offer, the offer may involve some conditional measures that will leave the house on the market for weeks longer than anticipated.
With investors, this is their business and they have gotten the steps of the legal process down to a step by step procedure. What this means for you is that good investors already have the legal and financial process completed from their end, and so all that is needed is for both parties to come to an agreement for money to change hands. A quick home sale can be finalized in as little as two weeks when using an investor.
Selling The House As Is
Since investors are looking to make a profit off the house they will usually look for house in need of repairs because that typically has the best profit potential. If you as the homeowner decide to sell the house the traditional way you might have to put out a lot of money to get everything fixed up before you can even list it on the market. When a house falls into disrepair it usually means that the current owners have had some major life event that has caused them to not be able to take care of their house. The idea of putting time and money into a house is usually not an option for these type of sellers.
Unlike the majority of home buyers who want move-in ready homes, seasoned real estate investors will buy houses "as is" as a matter of course. When speaking with investors you will probably not need to spend any money on home inspections or appraisals yourself because the investor will want to do such work himself.
Getting Through Negotiating Difficulties
Companies who buy houses have a greater range of financial options that you as a seller can take advantage of. Investors are interested in profits, and many times, the most profitable solution is often the most beneficial solution to home owners. For instance, many home owners turn to investors for foreclosure help. Investors can buy the mortgage for a certain period of time as the home owner sets his finances in order and then rebuys the home in the future. Investors have bought a house from a home owner and then created a lease agreement in which the occupant becomes a renter–a win-win for both parties since the investor does not need to find a tenant and the previous home owner does not need to move out. Investors can provide the money upfront all in cash or schedule cash payments over time. Regardless, investors are much more flexible in providing financial payment options or housing needs for you depending on your situation.
In conclusion, if you need foreclosure help, need money fast, or are thinking of selling a house that needs major repair, contacting an investor may save you a lot of time and stress.