If you need to sell your home quickly, listing with a real estate agent may not be an option. Selling to home investors could be a viable solution. Especially in cases where you are in pre-foreclosure or you’ve inherited a home you don’t wish to live in. Read on for more information about the benefits of working with cash buyers.
Fast Closing
Home investors typically have their own financing, unlike most buyers who plan to take out a mortgage for the house. In some markets, it’s tough for buyers to get approved for a home loan, so you may have your house sitting on the market waiting for a buyer. However, with home investors, they can give you check in as little as two weeks sometimes, since they won’t have to wait for bank approval.
Sell the House As-Is
Many home investors plan to flip the property or renovate it before renting it out or re-selling. They’ll often buy the house as-is, planning to take care of needed repairs as they complete the remodel. Selling to home investors means that you don’t have to spend your money making costly repairs on the property. If the house has been damaged from fire or flooding, you may not have enough money to repair it yourself, even after you’ve received an insurance settlement. Cash buyers can make you an offer and allow you to find a new home.
Receive a Cash Offer
Selling to home investors means that you can have cash in hand fairly quickly. In cases where you need the cash fast, or if you have an urgent need to sell your home, then having cash in hand can help you out of a financial bind. In other situations, you and other heirs may have jointly inherited a house, and selling for cash means that you can get your inheritance faster.
A cash offer can be helpful if you need to settle medical debts, or in cases where there’s a death in the family or divorce. Selling your home fast can help alleviate financial burdens for you.
Or, Have Your Mortgage Taken Over
Some home investors may take your mortgage over or may offer you structured payments for your home. Flexibility in purchase options may work for your situation. Selling to home investors can give you smart payment options. If you’re in pre-foreclosure on your home mortgage, having options can help you avoid trouble with the bank and a strike on your credit report.
No Commissions
Home investors aren’t like regular home buyers, and they don’t work through real estate agents. When you work with investors, you’ll be doing a direct sale. Home investors use proprietary software to determine a fair market value for your house, considering the location and the condition of the home. They determine a price based on this and make you an offer. You can either accept it or not. But when you do, selling your home can be as simple as buying a loaf of bread. Because there are no real estate commissions, every penny of the sale price goes to you. Instead of paying 5 to 6% to real estate agents.
Is Selling to Home Investors Right For Me?
There are many good reasons to work with a home investor. These individuals or companies have their own money to buy your house, instead of getting loans from a bank. Even if you have buyers that are pre-approved for a mortgage, their actual financing may fall through before closing. Which can leave you, the home seller, back at square one.
There are other reasons that people need to sell their homes fast. If you’ve received a job offer in a different city, you may not have the money to pay for your current mortgage plus renting or another mortgage on a home in the new location. Or, if you’ve recently had a death in the family or divorce, you may wish to sell your home quickly and downsize.
If you’re ready to sell your home quickly, for cash, Need To Sell My House wants to work with you. Give us a call or visit us online to receive a fair market value on your home. We can work with your schedule, closing at any time to accommodate your move.
4 Replies