Selling Your Home to an Investor over a Traditional Buyer!
Even with increasing demand for homes, selling your property might not be an easy task. The real estate landscape has evolved in the last two decades, and both buyers and sellers have their list of concerns. Most homeowners use real estate agents to get their properties listed, but the whole process of negotiation can take a lot of time. If you are looking to sell the house for a particular price, you might need to wait for months before getting a good offer.
Sadly, this system doesn’t work for everyone. Many homeowners are in need of quick cash, owing to a number of reasons, including divorce, foreclosure, liens, pending payments and relocation. Thanks to investors, homes have become liquid assets for sellers. It is likely that you have seen ads like ‘we buy houses Nashville’ or ‘get cash for your homes’. These ads are designed by investors to lure customers looking to sell their home without any delay. What are the things you need to know before talking to a real estate investor? We have some quick ideas below along with a few pros and cons.
Investors vs. traditional buyer
A standard buyer would take his time to evaluate the house. Also, he might need to get his loans approved, which can again delay the final deal. If you don’t have the time to wait, investors are always a better choice. Such services will complete the deal within a month, and based on the terms and conditions of your contract, you can expect to get the full payment within a few weeks. Investors also offer flexible arrangements for payment. For example, some may take over your loans and existing payments, while others may offer pre-scheduled cash payments.
As a seller, you don’t need to renovate or spend on repairs with investors. Most investors would buy homes in any condition, even if there is unexpected water and fire damage. In fact, if you have been dealing with unruly tenants, a genuine investor will be still interested in the property.
Sealing the deal
There are a few things to note before selling your home. Firstly, you need to do a background check of the concerned investor or service. There are many scammers around, and sellers need to be prudent for making the right choice. The best idea is to ask for a few client references, so that you can crosscheck their claims. Secondly, don’t miss on checking their evaluation process. Usually, sellers need to fill up an enquiry form, following which the investors will take an appointment for checking the property. Depending on the condition, location and other factors, an offer would be made. You can try negotiating the price, especially if you are aware of the current market value of the house.
Once both parties have agreed, you have to see the overall contract and related papers in detail. The sale and its terms and conditions should be as transparent as possible. If you have any payment terms to be followed, make sure to have everything in writing.