So you’ve decided that selling your property to a home investor is in your best interests. Now, it’s time to choose which home investment company you’re going to do business with.
And no, all home investors are not created equal. Some will give you a fast, easy experience which alleviates your stress and solves your problems. Others are going to give you the run-around and frustrate you far more than they should.
Here are some things you should take a look at before you make your final choice.
How quickly do they respond to your request for a quote?
The speed the company uses to get a quote to you could indicate how quickly they’ll get their cash to you. Just take a look at what this respondent on a Trulia.com forum had to say about her experience.
“In my experience, the one that took the longest to give me a quote was better by about a thousand bucks, so I chose them and I found out that the longer they take to give you a QUOTE, the longer they take to get your YOUR MONEY!!! I wish I simply went with the one who was the fastest to respond (and were VERY professional too).”
You’ll also note that a higher offer does not necessarily translate into a better experience for the seller!
Are they problem solvers?
People who reach out to home investors are usually dealing with some kind of very difficult situation. We’ve talked to homeowners who have just gotten a job offer halfway around the country, who are in the middle of a divorce, who just inherited a home after losing a beloved family member and who are in trouble with their mortgage. These homes have repair problems, liens, or tenants that must be accounted for during the home sale process.
If you work with the right kind of home investor, then you’re going to get a team of experienced real estate experts into your corner. Imagine working with people who are going to seek solutions with multiple professionals. Imagine working with investors who are going to work tirelessly to clear every obstacle that might stand between you and the sale you need to make.
Some real estate investors see the purchase process as a way to score a “deal” on a cheap asset. We see it as an opportunity to use our expertise to help homeowners!
Are they established?
Real estate investment is not a regulated profession. There’s no test. You don’t need a license. All you really need is the money to buy a house.
On one hand, this is a great thing. It means that enterprising souls can launch an exciting business that they’ll really have some fun with.
On the other hand, it means that it’s very easy for fly-by-night scammers to come in and spin you a story about the great “deal” they’re offering you. Once they have what they want, they’ll be in the wind. You’ll be left to clean up the mess.
The only real way to guard against unprofessional investors is to meticulously investigate the reputation and longevity of the company you’re thinking about selling your home to. Look for companies which have successfully navigated good markets and bad. We thrived in the 2008 recession and continue to excel in today’s current markets.
Investigate their reputations. This information is literally a click away. Find out how many happy sellers they’ve left behind them. You’ll soon find that some companies stand out as trustworthy and easy to work with, while other companies have left a long line of frustrated buyers in their wake. Sources like the BBB will always give you a grasp of a company’s trust value.
Are they responsive?
You’re trying to sell your home quickly. You want people who are going to answer the phone and answer your questions.
We have people in our Dallas and Houston offices every single day to make sure sellers can reach a live human being when they need to. We even answer seller questions free of charge, and will take the time to explain why the sale may be advantageous for you. These interactions don’t incur any type of obligation. We just see this as one of the things that a reputable home investor ought to be doing for their customers.
You’re going through enough stress. Don’t go through more. Make sure you take the time to understand all of your options, even before you start asking home investors to make you an offer.