Wondering if you should sell your house for cash to an investor like Sell Your Homes Houston. Here are the 7 pros of we buy houses companies.
- Stop feeding the money pit
Selling your home directly to we buy houses company will stop the bleeding. You do not have to continue dumping cash into that old house that is causing you headaches.
Many homeowners have this issue with older houses. The good news is, by selling your house fast for cash, you won’t have to worry about it anymore.
This is especially true for homeowners with a second home that isn’t occupied. You won’t have to stress about paying a second mortgage, utilities, taxes, and other expenses that are burning through your money.
- Easy streamlined process.
If you are a distressed homeowner and you need to sell your home quickly, selling to an investor is your best option. Cash offers are processed faster than conventional financing and it is less risky for the seller.
A traditionally financed home can take 30-60 days to close and there is always a chance that a change in the buyer’s finance causes their loan to be denied.
Many investors purchase houses sight on seen. In many instants, all the investor needs are pictures and a working knowledge of the market and they are able to offer you a competitive price for your house. The process is usually three steps.
- Information is gathered about the house via appointment.
- The property is evaluated for the best no-obligation offer.
- After the offer is accepted, the transaction can close in as little as 7 to 30 days.
3. No repairs needed
Houses are purchased in as-is condition. The homeowner does not have to spend thousands of dollars on expensive repairs to sell their house.
A substantial part of how an investor makes a profit is through forced appreciation. That means the house is purchased with the opportunity to increase its value through renovation.
4. Maximizing your profits
Selling directly to an investor can save you tons of money from fees and commissions
- Double closing cost for you and the buyer (buyers usually ask for you to pay closing costs) Typically 2-5 percent and you will have to pay this twice since you are paying for the buyer as well.
- Other related fees such as carrying costs, taxes, etc.
- Double realtor commissions for your agent and the buyer’s (typically around 6%)
Note: More than 75% of homes are sold below asking price and according to Zillow a house spends between 65 and 93 days on the market
Selling directly to an investor like Sell Your Homes Houston will streamline the process reduce the headaches and allow you to keep more money in your pocket.
5. Peace of mind “priceless”
Selling directly to an investor alleviates a lot of pressure on you to sell your house. If your house is distressed in need of repairs, you are behind on your taxes or you are facing financial difficulties. A good option is to sell your house to an investor.
No matter the condition of your home or the circumstance that you are in. I am sure there is an investor willing to buy it.
The transaction can go very quickly depending on your timeline, and you do not have to wonder if your loan is going to fall through at the last minute.
6. No realtor needed.
Ok let’s talk about the elephant in the room “a real estate agent” and do you really need one.
With technology today and companies like Zillow and Trulia to name a few you are more than capable of selling your home yourself however, its allot of work.
You do not need a realtor to sell your home, but its great to have experienced representation with you.
Note: If your goal is to not pay realtor fees, keep in mind as the seller you are responsible for paying the buyer’s agent commissions in Texas.
As for an investor you should have a few real estate agents on your team.
To serve the homeowner best, you need options and a realtor gives you added benefits.
Not all houses need to be a fix and flip or a rental, that is one dimensional. As an investor, you should always seek to serve the homeowner the best you can. That does not always mean you purchase their home.
They are reaching out to you to solve a problem; your job is to help them.
Next time a homeowner brings a property to you that needs light repairs, or their situation isn’t that dire, help them out.
Let’s say the property needs $10,000 in repairs and they can get full price on the open market.
Introduce the homeowner to your trusted contractor, painter, plumber, etc. I am sure some homeowners can find a creative way to get the money they need to do a light rehab.
As an investor, you are not doing the work for them but providing a little help to the homeowner that goes beyond just buying their house fast for cash.
After the work is done you can recommend the homeowner use your realtor to list the house on the MLS.
The scenario does not generate income for the investor. However, you created value and income for the homeowner, realtor, and contractor.
- Don’t waste time with for sale by owner
Selling your home can be stressful enough as it is, with packing, moving, cleaning, and relocating.
Often times the money you save by not paying a realtor is replaced with headaches, anxiety, and stress.
For sale by owner isn’t easy, here are some of the task you will be responsible for:
- Market research
- Conducting showings
- Answering the phone from potential buyers
- Working knowledge of real estate laws and guidelines
- Negotiation
- Qualifying buyers
- Giving tours of the property
- Prepare documents (contracts, deeds, closing statements, etc.)
- Advertise the property
If you are up for the challenge no problem some homeowners are. But if you are looking for and easier stress-free process, you should sell directly to an investor.
Conclusion
Selling your house to an investor can be a viable option. The traditional way of selling your home is great but it has some drawbacks like anything else, it isn’t perfect.
If you are thinking about selling your home for cash STOP before you do and read this article. It will tell you the 7 pros of we buy houses companies.
ARE YOU SURE YOU SHOULD TRUST A CASH BUYER?