Depending on your particular situation, there are many benefits to selling your home to a real estate investor, instead of going the traditional route of working with a realtor and waiting weeks (even months) for your home to finally get a buyer.
For starters, you don’t have to worry about inspections or contingencies, which means that you can still sell your home as-is no matter what the home inspector will find. Likewise, you won’t have to lose sleep wondering if the bank is going to greenlight the buyer’s loan, only for the deal to fall apart at the last minute.
But selling to a real investor can also be risky, especially if the investor you’re working with observes less than desirable business practices. With that being said, be sure to look for these 5 qualities in a home investor to stay safe.
1. Familiarity with the Market
A reliable home investor has in-depth knowledge of selected real estate markets and current housing trends, including changes in consumer spending, mortgage rates, and even the unemployment rate, to name a few. Although it’s rare for a home investor to make an offer on a home that’s close to its fair market value, this information will still help them make a reasonable offer that doesn’t rip off a seller.
2. Honesty
Real estate investors are not obliged to follow a particular degree of ethics. Naturally, there are some investors who take advantage of this situation, but there are also those who maintain high ethical standards. Because real estate investing involves working closely with people, a reliable home investor knows the importance of upholding a reputation of integrity and honesty.
3. Clear Niche
It’s important for a real investor to develop a focus on a particular segment of the real estate industry to become successful. Only large firms will specialize in everything because of the considerable toll it takes on both their time and resources. So, be sure to work with an investor whose services match your needs.
4. Referrals
A reliable home investor will have several satisfied clients willing to recommend to their services. Aside from customers, be sure to look for referrals from business partners (e.g. home investors and contractors), associates, renters, or anyone whom the investor shares a business relationship with. The best real estate investors pay attention to the details, listen to clients’ concerns and complaints, and represent their business in a professional manner.
5. Transparency
A reliable home investor won’t be afraid to be upfront with the caveats of their services. They’ll tell you that even though they’ll offer a quote on your home that’s lower than its fair market value, in exchange, they’ll pay in cash, won’t require you to make repairs to your home, and will be ready to pay after making an offer.
If you have a home or property you just want to sell as-is right away, sell it Blue Hen Homebuyers. As a home investor, we buy all kinds of homes, regardless of their age or condition. Call our offices today at 910-802-2222 to learn more about how we can help you.