Is it worth selling your home to a real estate investor? When we think of selling a house, the image that comes to mind is selling to a first-time homeowner or a family looking to move into the neighborhood.
But depending on where you live, the local market could be in the cellar. Many areas in the country are still recovering from the housing crisis in 2008. Many millennials, who by now should be ready to buy their first home, choose to stay with their parents for many reasons, among them high student debt and uncertain employment prospects.
Fortunately, you can still sell your home “as-is” to investors, or companies that buy houses, fix them up and sell them at a marked-up price to homebuyers. But how do these investors work, and when is it worth selling your home to them?
When Is Selling to a Real Estate Investor a Good Idea?
There are situations that may require you to sell your home “as-is” right away.
• Your home needs repairs that are too expensive and/or time-consuming
• You’ve inherited a house
• Your house is in foreclosure and you need to sell immediately
• Your home can’t qualify for traditional financing
• You need to sell your home right away (e.g. you are moving to another state
or city, you are moving to a smaller or larger home)
Why Sell to an Investor?
As you probably may have figured out by now, the most notable benefits of selling your home to a property investor are a quicker closing process and convenience. We take a closer look at these advantages below.
• Faster Closing – Selling a home through conventional financing
often delays the closing process and extends the length of time your home
spends in escrow. If you don’t have time for financing, you can sell your home
to an investor, who often purchase using cash, which means you can close
quickly or at a date of your choosing.
• Willingness to Buy Almost Any Property – Most investors
don’t usually care about the condition of your home because they’re not looking
to move into the property. What they do care about is the house’s potential
value, so its present condition is usually not an issue. So, if you have a home
that’s in disrepair or has been uninhabited for years, investors offer a quick
and easy way to sell it.
• Flexibility – Unlike regular buyers, investors can be flexible
on your agreement/payment terms, especially when it comes to closing dates,
conditions, and moving arrangements among others. In fact, most investors don’t
care if you want to leave some of your possessions at the house.
What’s the Catch?
Selling a home as-is doesn’t excuse you from disclosing the property’s known defects, nor does it protect you from any liability for lying about its true condition. While these issues will influence the investor’s offer, you are not obligated to fix these issues before you can sell the house.
If you have a home you’d like to sell right away, you can sell it as-is to an investor like Blue Hen Homebuyers! We buy all kinds of houses, regardless of their age or condition. Call our offices today at 910-802-2222 to learn more about how our services can help you.